Capitalism vs. Socialism

Topics: Communism, Capitalism, Socialism Pages: 2 (356 words) Published: February 4, 2013

Economical Debate
Jennifer Woods
Everest University


Economical Debate

Recently, there has been a lot of controversy concerning socialism verses capitalism Economic forms of governments. There are many pros and cons to both economical forms of government. In this essay I will give you a look at what a person from the opposing side of each form of government would say about the other. We will be looking at a Belgium socialist “Jean- Paul” and a US capitalist “Julie” having a conversation about why there country of residence is the better place to reside.

Jean Paul living in the US with its capitalist government is much better than living in Belgium socialist economy. It is in a capitalist economy that hard work is rewarded. Everyone is not paid the same, nor are our jobs picked for us like in Belgium. We have entrepreneurs who do well and are able to better their business, make more money, and grow. The consumer market facilitates the manufacturing of products not the government. This opportunity makes US residents happier and more motivated toward finical freedom. That is why there are far less personal debt here and our taxes are lower.

Julie you Americans are so self-centered. Your consistent production of products are going to ruin our planet, eventually we will have no natural resources due to over production. We are a planned economy, so we have an efficient use of our resources. Profit will not be the aim of our policy making as it is in a capitalist economy. There is no extreme inequity because social welfare is our goal not personal wealth.

Jean Paul I think you are wrong, in your economy you have no freedom. The state dictates where you will work and what products you have to choose from. Citizens there work out of fear of higher authorities. Belgium even has lack of technology due to its fear that innovation will alter the state’s plan. I could never live without...

References: Text Book-Understanding Business : Nickels, McHugh, McHugh
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