Which economic system do you think is better and why?
2007-10-13 16:03:00 · 8 answers · asked by N/A 3 in Social Science ➔ Economics
They both have shortcomings. Socialism tries to make everybody equal and so there aren't as many opportunities for people to become really rich and successful. There aren't really poor people either. It's more like everybody has pretty much the same standard of living. Some people are happy with that while others aren't. Capitalism means that just about anybody has a real shot at becoming very rich if they are willing to work for it and get very lucky. Its big drawback is that this system also relies on a huge permanent underclass that supports a privileged few. They are the ones who have all the money and power while everybody has to live on just a few dollars a day. This type of system exists in a lot of 3rd World countries today.
In my opinion, I think a balance between the two is the best.
2007-10-13 19:10:33 · answer #1 · answered by RoVale 7 · 1⤊ 0⤋
Capitalism is the better. History has shown us the failures of Socialism.
Capitalism is unequal distribution of wealth.
Socialism is equal distribution of poverty.
There is no incentive in Socialism. You stand at the end of a long line waiting for a loaf of bread. To pay someone who you just annoyed because you are there. A very slow cashier.
In Socialism you wait 2 years for an MRI that you could of had in a day under capitalism. A nurse that is going to give you an injection with a used needle because the state doesn't have enough money to insure you get a new unused needle.
2007-10-13 16:22:21 · answer #2 · answered by Tinman12 6 · 1⤊ 2⤋
Your question answers itself: Look at the economic success of the United States versus the few socialist states that exist. Capitalism is obviously better; any introductory level course in economics will prove that.
2007-10-13 16:35:38 · answer #3 · answered by Viginti_Tres 3 · 0⤊ 1⤋
Socialism can be compared to Communism, so Socialism is really a two-way street. Plus, like another answerer said, captialism is more productive, but that is the reason why the majority of the world hates us. U.S. corporations=Capitalist piggies. I'm sorry, but that's reality.
2007-10-13 16:45:48 · answer #4 · answered by ga_tx_1992 4 · 1⤊ 0⤋
Capitalism is obviously more productive.
But, there is no such thing as only having polar opposites in real life. There must be balance.
Socialism l--------^---l Capitalism ; I would say the scale to the left sums it up.
2007-10-13 16:37:33 · answer #5 · answered by Nep 6 · 0⤊ 0⤋
I personally think that Capitalism is better because Socialism doesn't really work in most situations. While Socialism gives everybody the same pay and benefits, it causes people to slack off because they know that it won't affect their pay.
2007-10-13 16:08:10 · answer #6 · answered by DLoc1337 2 · 0⤊ 2⤋
Capitalism.
The ability to generate and keep wealth is a huge motivator. For the US it has resulted in unprecedented prosperity.
Take that away in deference to socialism, and everyone turns into slow-motion people waiting for handouts.
2007-10-13 16:08:55 · answer #7 · answered by ready4sea 4 · 1⤊ 2⤋
(>'-')> <('-'<) ^('-')^ v('-')v <('-'<) ^( )^ (>'-')> ^(^-^)>
2007-10-13 16:10:43 · answer #8 · answered by dragonslayer 1 · 0⤊ 0⤋