This website uses cookies to ensure you have the best experience. Learn more

Capitalism Versus Communism Essay

1277 words - 6 pages

Some may argue that capitalism is a cruel economic system that has been known for the corruption, exploitation of poor people and where greed overcomes anything good. However, the majority will agree that capitalist system is best system in the world of economics. It drives people to do better, as the certain amount of effort will bring the same level of result. There are examples in the history where individual’s wealth was affected by the corporate greed, but with the government regulations history will not repeat itself the same way. Capitalism is all about choices and these choices are made based on the amount of economic benefit we receive at the end of the trade.
The connection ...view middle of the document...

To ensure business ethical conduct if free markets, government has to regulate businesses. Even though the inventions and business growth are most important factors for the economy, federal and state regulations are needed to ensure public and environmental protection. With the free market system every individual is free to invent, trade, and offer his services and capital to others for his own profit; however, it is believed that in some occasions person’s greed may overcome the honesty. Without certain rules there is nothing that would stop individual executing dishonest transactions or harm an environment for his personal benefits. According to Adam Smith one of duties of the government, “ includes a judicial system, the rule of law-a system of justice that would, in effect, enforce contracts and other legitimate business transaction, as well as mediate disputes ,and, perhaps most important, define property rights” (Smith p.222). Another government duty in the free market world according to Smith is to provide security. In present days there are many corporations that are sitting on huge piles of liquidity; however they restrict themselves to use the liquidity because of economic uncertainty. In the free markets government cannot stay away and not being involved with regulations and restrictions but at the same time it can’t allow itself to take complete control over the markets as it will move from capitalist to a communist market system.
The communist system is dramatically opposite to the capitalist. The communist system restricts individual’s liberty, the right to own property and completely restricts private business. Everything is owned by the government and the government is operating for its own benefit, not necessarily for the benefit of its people. In free markets government intervenes to ensure equal distribution of resources, regulate pricing or imply tariffs on foreign products. Capitalist’s government basically protecting environment, nation’s industries and profitability of the private sector by intervening. However, sometimes the outcome may differ dramatically from the government expectations and government finds itself more involved regulating more than it needs too, or one industry receives more benefits than another. Certain business groups appeal to government for preferential treatment and increased profitability, or calling for government for certain action that will benefit these business groups. The government role in free markets should be limited, with main responsibility to protect the people. The legislative part of the government should represent people’s concerns and needs versus making decisions for the people and plan people’s future. The government and its representatives should not be allowed to impose their goals, dreams and vision over society as it is against our individual liberty (Ebeling p.607).
In the free market system all the businesses operate to attract the...

Other Papers Like Capitalism Versus Communism

Truman Doctrine Essay

771 words - 4 pages themselves. This idea is supported by the fact that at this time communism was beginning to look more appealing to many nations as it spread. Also, following the war most countries were financially unstable and therefore were looking for an alternative method to capitalism, once again boosting the popularity of the Soviet union and their own ideology. Furthermore, there were numerous other events taking place at the time contributing to the

Policemen of the World Essay

1671 words - 7 pages incidents outlined previously. 1. Communism versus Capitalism - The world was divided between communism and capitalism or rather democratic countries. The America and Russia were leading both groups and international decisions were taken on behalf of this. The Korean War is an evidence of this when two different ideologies collides with each other. 2. Unrest in sub-Saharan countries - Unrest in sub Saharan countries and in the Middle East

The Positive Aspects Of The Cold War: 1946 - 1991 Describes The Positive Aspects And Outcomes Of The Cold War, And How It Helped To Create A Stable World Economy And Political Structure

1518 words - 7 pages and willing servant of American policies. But gradually, the Americans became more and more involved directly in the war, with American involvement climaxing in 1965 when over 500 000 American troops were in Vietnam. The war essentially became a war of Communism versus Capitalism and Democracy. The Americans were eventually forced to pull out from the war after suffering large numbers of casualties and with support of the war at home diminishing

Marxist Aproach of International Relations

2580 words - 11 pages main substitute to the mainstream realist and open-minded customs.” He asserts, “…where realism and liberalism took the national system for granted, Marxism open both a diverse description for universal encounter and an outline for basically changing the existing international order.” (Walt, 1998) The conceptual origin for orthodox Marxist theory “…saw capitalism as the crucial root of global conflict. Capitalist countries battled each other as a

Berlin Wall in Germany

1569 words - 7 pages relationship between the Allied powers turned Germany into West versus East, democracy versus Communism. In 1949, this new organization of Germany became official when the three zones occupied by the United States, Great Britain, and France combined to form West Germany (the Federal Republic of Germany). The zone occupied by the Soviet Union quickly followed by forming East Germany (the German Democratic Republic). This same division into West

Okpala Document

3620 words - 15 pages the world, the view has often been that democracy accompanied by capitalism, offers the best, most efficient use of resources and governments guided by those principles assure the best outcomes for their populations. Other countries have adopted very different governing principles. Communist doctrine, as adopted by some nations, endorses the establishment of an egalitarian, classless, stateless society based on common ownership of the means of

Huntingtons Clash of Civilizations

1410 words - 6 pages , wrote a thought-provoking article; “The Clash of Civilizations” was published by Foreign Affairs in the summer of 1993. (Foreign Affairs). Huntington’s article given in nine topics, gives the reader a big-picture look at the world which nerved to imagine that a bi-polar rivalry between communism and capitalism was about to be reinstated by a multi-polar world of contradicting civilizations. He argues that the short-term warfare between ideologies is

Ray Bradbury

2962 words - 12 pages growth in weapons of mass destruction was the most worrying issue. A clash of very different beliefs and ideology - capitalism versus communism - each held with almost religious conviction, formed the basis of an international power struggle with both sides vying for dominance, exploiting every opportunity for expansion anywhere in the world. McCarthyism The Cold War era in the 1940s and 1950s was perhaps the most repressive time in

Social Stratification |

4257 words - 18 pages , Soviet officials argued that they created the first modern classless society. However, the institution of communism that replaced the feudal system and was claimed to be classless was flawed. Analysts point out that occupations in the Soviet Union fell into four unequal categories. Each category was associated with a different standard of living and different degree of social prestige. At the top were the high government officials followed by

Summary Of Chapter

9679 words - 39 pages colonial powers, countries needed to reestablish their identity and political structures → hostility + Maoist experiments in China 2. 1975-1997 Relative calm period, stable growth, export to foreign countries, rise in FDI a. Mao’s death: collapse of communism → socialist market economy b. Japanese miracle c. Impressive growth of the South-Korean economy 3. Ersatz capitalism → Asian crisis in 1997: inefficient use of capital was covered up

Tolkien's Lord of the Rings as a Catholic Epic

3984 words - 16 pages beautiful. The enclosures and various other economic measures ended Western Society's communal nature. The great present-day expressions of these forces of modernity are Capitalism and Communism, with all they represent. JRRT's feelings about such things are clear. In The Hobbit, we are told of Goblins that "they invented some of the machines that have since troubled our world, especially the ingenious devices for killing large numbers of people at once

Related Essays

Communism Vs Capitalism Essay

599 words - 3 pages Communism versus Capitalism A capitalist government is better than a communist government for many reasons. The basic concepts of communism and capitalism contrast quite sharply. In communism, everyone is equal; therefore everyone receives the same amount of income. Communist societies are made up of one large state instead of many different states. All means of production and property are owned by the large state. The basic concepts of

Social Theories Essay

3112 words - 13 pages done). For Communism (to distribute production according to needs), it is necessary to first have production so high that there is enough for everyone's needs. In an ideal Communist society, people work not because they have to but because they want to and out of a sense of responsibility. Political differences Socialism rejects a class-based society. But socialists believe that it is possible to make the transition from capitalism to socialism

The Cold War And The War On Terror

1024 words - 5 pages , defines the enemy as a worldwide conspiracy…with operatives infiltrating the United States.” In both wars, America was not just fighting a group of people; America was also fighting an idea. In the Cold war, America was fighting of Communism. The USA believed they were truly free, and that in order for other countries to be truly free they had to embrace capitalism and consumerism. America tried to spread capitalism to Vietnam and Korea by

Czech Republic And Vietnam Communism: Past Versus Modern

872 words - 4 pages Czech Republic and Vietnam Communism: Past Versus Modern Keith Leung 7-1 January 10th 2014 Communism is a political thinking ideology. Communism has been used by various nations not only in the past, but also now. Changing to another government system is a tough choice. Countries have to be able to observe the stability and the economic growth rate of the system. Both Vietnam and Czechoslovakia (Now Known as the Czech Republic) “are” and