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Capitalism vs Socialism - School Essays

Capitalism vs Socialism

When attempting to run a system or fulfill an action, extremist views should be avoided to ensure the highest quality and duration of your action(s). Extremes are for the extremely desperate, and when the desperate hold positions of power, their views are imposed upon the lesser. Extremism when applied to the political spectrum is no different, it should be avoided. The two extremes on this spectrum are pure socialism and pure capitalism. In socialist systems, the means of production and assets are government-owned and prices are also government-controlled. Capitalism, on the other hand, is a system of economics in which the means of production, assets, and prices are controlled by the ...

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state holds even more power in the economy and makes more decisions. If this occurs: most prices will be set by the state, the movement of resources will be strictly controlled, factors of production will be mostly owned by the state, individual risk taking will not be allowed, economic decisions about all aspects of production will be made by state officials, and taxation will be used to redistribute the income. Through these government actions, a classless social system is created and everyone is brought to about the same level economically. This government behavior discourages competition and practically eliminates any sense of purpose the masses may have when conducting their work.
Capitalism is on the other side of the political spectrum and can be just as harmful, or even more harmful, to the masses as socialism. Of course there can be different forms of capitalism, and some may improve the economy, while others may end up impeding the economy. These different types are: ...

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PAPER DETAILS

Added: 4/18/2012 09:55:27 PM
Submitted By: dannielle77
Category: Economics
Type: Premium Paper
Words: 746
Pages: 3

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