Socialism and Capitalism Economies
Although socialism and capitalism economies are both formal economies, they have major differences. The United States has an economy which is a capitalist economy. This economy allows economic freedom, and consumer choice. Then there’s a socialist economy which is controlled by the government and provides for a much greater social welfare.
When looking at the two, it shouldn’t take a rocket scientist to figure this out. Quite simply, would you would rather have more freedom or having the government dictating price of goods and services?
Furthermore, you can point out the key differences between socialism and capitalism economies through the following bullet points.
A capitalism economy provides:
-A market based economy that has buyers and sellers
-Good and services are produced with the outcome to turn a profit for the buyer
-The government never interferes within the economy of a free market
-There will always be a need for the production of goods and services to operate
-The government never uses economic resources as private enterprise
A socialist economy provides:
-The means of production are owned by the state
-There is equal opportunity for all, however the returns from the indutries must be returned to benefit the society as a whole
-Economic inequality is seen as being unfair, so the government is mainly responsible to reduce it by programs to benefit the poor
Now looking over the major points for socialism and capitalism economies, which sounds better? It’s quite simple that the free market of capitalism provides more opportunity and a better life. Within a capilalist economy there’s consumer choice and economic growth. Furthermore, there’s a hashtag going around #BigGovernmentSucks and that’s exactly what socialism is. In fact, when you have the government telling you what you can and can’t have, how fair is that? You get exactly that while you trade for free government programs. By doing this, you are at the mercy of the government making all of the right decisions for you.
To read more on this issue of socialism and capitalism economies, click on the link below from economist Dr. Thomas Sowell.
In conclusion, we have updated headlines dealing with all things socialism. By offering this, you can become more informed exactly what’s going on with our current government decision makers and how they feel about socialism. Click on the link below for our socialism in the news which will take you to that page directly.