An Analysis of the Benefits of Capitalism over Socialism

An Analysis of the Benefits of Capitalism over Socialism

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Category: Economics Essay
Subcategory: International Economics
Words: 686
Pages: 1
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Document details
Category: Economics Essay
Subcategory: International Economics
Words: 686
Pages: 1

I sat down to watch a movie, after a while feeling a little thirsty I called out to mom instinctively asking her for Coca Cola. Theres no Coca Cola today beta, the last bottle just finished, but I did make some meethi lassi today, do you want some? Lassi!!! I said my eyes almost popping out of their sockets in shock, how could ami have possibly thought that I(emphasis and a lil pose), a product of this age,the modern age, care for something so, so Socialic so local so, UNCOCA-COLIC. Mom has to remember that to survive in this age we have to eat coca cola, sleep cococola and drink only cocacola. My fellows, for saying this I have my own reasons, Coca Cola is a product of a capitalistic economy and lassi of a socialistic one. Coca Cola a product of a capitalistic market, and lassi a product of a socialist nation. To understand this it is essential to understand just how capitalism is better than socialism and what they really are. Capitalism is an economic system in which private individuals and business firms carry on the production and exchange of goods and services through a complex network of prices and markets. However, Socialism is an economic and social doctrine which demands state ownership and control of the fundamental means of production and distribution of wealth. In Capitalism, basic production facilities that is land and capital are privately owned, economic activity is organized and coordinated through the interaction of buyers and sellers. Consumers are free to spend their incomes in ways that they believe will yield the greatest satisfaction. This consumer sovereignty as it is called, reflects the idea that under capitalism producers will be forced by competition to use their resources in ways that will best satisfy the wants of consumers. Self-interest and the pursuit of gain lead them...

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