Communism V.S Capitalism

Topics: Karl Marx, Communism, Economic system Pages: 3 (845 words) Published: April 17, 2005
Capitalism vs. Communism

Throughout history, there have been many systems developed in order to have a better society. Two of the most analyzed, and debated systems that have tired to change an economy for the best are communism, and capitalism. Communism, and capitalism have been compared on many levels, such as why they will or will not work, and which one works better. Throughout this essay I will concentrate on the differences, and similarities of how each operates, along with the benefits, and problems that each of them produces.

Both of these economic systems theories came about around the same time, in the late 17th to mid18th centuries. One of the main contributor for capitalism was Adam Smith, writing The Wealth of a Nation in 1776, and Karl Marx for communism publishing the Communist Manifesto in 1848. These both were looked as a manual or guide for achieving such advancements. Communism called for the people to not be selfish and work for the benefits of the community rather for their well being. It asks them to see that what benefits the whole, benefits themselves. Capitalism on the other hand is focused on working for individual growth, and personal ownership to provide wealth for one's self. Communism plans to have a higher power or government control the economy to create a better way of living, by which all goods are equally distributed. As capitalism wants the government to not play a big role in the system, but instead wants it to be up to private ownership to produce and distribute the goods. This is the theory of a free market, based on supply and demand to take care of the consumer welfare. Capitalism gives people the freedom to do as they wish, and allows them the opportunities to work to gain great wealth, or to just survive in the society. While communism sets direct demands on the work you do and what you need to produce, so others can benefit as well as you from your hard work.

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