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Capitalism Vs. Communism Essay

756 words - 4 pages

Capitalism vs. Communism
By William Vaughan

The United States, for many years as looked upon communism as an evil and must not spread to other countries. The Cold War is a perfect example of this; we spent 40 years in terror due to this way of thinking. Now we understand that communism is not an evil just another way of organizing a country. Capitalism and Communism has its own ideas on how a government should run, whether it’s through advancement or control of the people.

According to Minsky capitalism is not just the market economy, but it is also a financial economy. Minsky states that there are two sets of prices, first is the prices of current output, and second consist of the ...view middle of the document...

First everyone has a job and is treated the same. Communism can be defined as an economic and political system in which facts of production are collectively owned and directed by the state. In a perfect society, communism would be desired to live in. This can be said because no one would try to be better than anyone else. In communism everyone has a job and is paid the same. Unlike capitalism, in a communistic society, the government makes all the decisions for you. According to Lang the biggest advantage communism has compared to capitalism is job security, no one faces unemployment. Communism and capitalism may be complete opposites, but they both have similar ideas, and that is helping their citizens. When communism mostly puts emphasis on equality, capitalism emphasizes freedom and quality.

Regarding capitalism, communist believe that capitalism is progressively herding the dispossessed into the constrictive gloried work camp called suburbia. But on the other hand capitalists would prefer to live in this society. To live in a community with your riches with a family by your side is the ideal situation a capitalist would want. “There are so many more advantages for being a capitalist than being a communist including better working conditions...

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