Capitalism and Communism

Topics: Capitalism, Adam Smith, Free market Pages: 1 (447 words) Published: April 3, 2012
Capitalism and Communism
Capitalism lives thrives and still lives long here in the United States and few other nations, while Communism also lives long in other nations. They are two opposite types of governments that have challenged each other throughout history and have almost cause catastrophe throughout the world years ago. Both governments have their successes, while they both have their downfalls. Capitalism is based on a free-market and communism is based on a command market. A free-market is based on the concept of laissez-faire, or the thought that governments should not intervene with the working man in order for him to achieve the most and be successful. A command market conceptualizes the thought that with government control over the industry, problems within the economy will not happen, and people will be left with no worry. With these two concepts in mind for both types of government, they have their downfalls. In a free-market someone is given the choice to succeed or not depending on their confidence and willing to try their hardest to earn what they want. The government does not limit a person to thrive in the economy. This is outlined in document G by Adam Smith in his book, “The Wealth of Nations”. Someone who comes up out of nothing can try their hardest and end up at the top. But sometimes even trying to end up at the top you can find problems caused by the richer class of the country which is portrayed by document E, “Pyramid of Capitalist System”. People can end up unemployed due to the richer class and lobbyist who try to influence the politicians whom regulate the economy sometimes. There are many cases where this happens in the United States. A command market keeps everyone working and regulates/limits the economy to what is needed in order for the country to stay alive. No one in a free market is ever without work. This is even explained by a 16 year old child who lives in Moscow, depicted in document A. No worries about being too...
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