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Source Why Capitalism is Good Capitalism and socialism: These systems present two very different futures for our world, and both have strong supporters and opponents. Capitalists cover quite a chunk of the right and center spectrum, including everybody from moderates to libertarians to every-man-for-themselves money grubbers.
Same for socialists; there is definitely a fair amount of contrast between the far left and the center. What I mean by capitalism is a free market governed by supply and demand and private property, including the ownership of the means of production.
What I mean by socialism is public ownership on varying levels, but always the means of production.
When you go towards the extremes, there are of course far more differences, but my views deal with the more viable and debatable center. So before we go further, allow to me to write a quick summary of why neither extreme works.
Source Why Both Extremes Fail Like I said before, my views are comfortably in the center, the reason being that going too far to either side will simply not work. Capitalism Capitalism, in its right-most form, is every man for himself.
A capitalist society is set up so that those who work hardest and smartest not counting get luckiest in this explanation get more resources - which makes good sense, as until there are enough resources to accommodate everyone, there will always be conflicts of interest.
The only way to get more resources, after a certain extent, is to create it, which can only be done through improving technology, like agriculture, electricity, and the Internet. If we must divide our resources, it seems reasonable structure our system so that it provides incentive for productivity.
How would this happen? If we go to the extreme of having little or no government intervention, like no tax estate, income, etc. Without wealth distribution, those who are born poor must remain poor.
This is - for lack of a better word - bad for their happiness, as well as detrimental to all of society on several levels stability, for one. As the wealthy have more influence, they have connections to politicians and appointed officials - very dangerous in a representative democracy. The government must represent the entire constituency, which will certainly not be the case if the wealthy own our political processes.
Basically, products necessary for everyone will be in the control of only a few. Without government to check them, those who are greediest and most selfish will rise highest in society.
Socialism Far left socialism is no less dangerous. Though I think the socialist ideal of a worldwide and local cooperation is good, the socialist model is not the way to do it.
The problem with the really far left model, involving equal work and equal distribution, has already been discussed in depth by many, so I will only cover it briefly.
Europe is still great, but the cracks are starting to show. The two major reasons are 1. Socialism discourages work and effort by shifting consequences positive and negative onto others.Significant Energy E vents in Earth's and Life's History as of Energy Event.
Timeframe. Significance. Nuclear fusion begins in the Sun. c. billion years ago (“bya”) Provides the power for all of Earth's geophysical, geochemical, and ecological systems, with . Executive Summary. Is Capitalism the best route to human happiness?
After evaluating the options between capitalism and communism, it was decided that including a few identified faults capitalism can lead to overall happiness. Capitalism: The Best Option The current American economic landscape has been less than perfect for several years.
The stock market has seen substantial losses, the banking industry has been dealt crippling blows, and the government has financially bailed out many major corporations out of taxpayer monies and the economy as a whole is suffering.
A monthly meeting with a focus on free markets, Objectivism, and investing. TED Talk Subtitles and Transcript: Have you wondered why politicians aren't what they used to be, why governments seem unable to solve real problems? Economist Yanis Varoufakis, the former Minister of Finance for Greece, says that it's because you can be in politics today but not be in power -- because real power now belongs to those who control the economy.
The United States is one example of capitalism, but it's not the best. In fact, it doesn't even rank within the top 10 countries with the freest markets. That's according to both Global Finance Magazine and The Heritage Foundation, a conservative think tank.