Essay, Research Paper: Capitalism And Communism

Capitalism and Communism are two totally different economic systems. Capitalism is a much better economic system than Communism. Capitalism is an economic system characterized by freedom of the market and is the economic system where you do not have freedom because the government will make most of your decisions for you. Capitalism has many pros to go along with its economy. The government will change gradually, but is able to adjust to it with ease. Each person also has individual freedom with lack of government interference. We also have the freedom to choose what we want and when we want it. On the other hand, not everybody will have a job, and the government will not help him or her find one. If you do have a job, everyone will be getting paid the same amount of money as you do. It all depends on what you do, whom you work for, and how long you decide to work. Communism has many drastic chances at a time, but is able to handle them. The bad things about communism is that everybody has a job, but no matter how much you work or whom you work for, you will always be getting paid the same amount of money as everyone else. Another bad thing about communism is that consumers will not always get what they want because the government decides on what you will buy. When you go to the store, you have a choice of what you want to buy. If you are communist, the government decides for you. Because of this, you cannot always get what you want which is why communism is not a good economy to live in. In our economy, you must work to make money. The more you work, the more you will get paid and now you will be able to buy what you need, and what you want. In a communist economy, you can work as much as or as little you want, but you will still get paid the same amount of money as everyone else. Why would you want to work so hard if you were going to make the same amount of money? If you hardly ever put any effort into your work, you still would be getting paid the same as everyone else so why over Philosophers who studied and wrote books about the economy. Smith, who wrote “Wealth of Nations”, is known for his strong belief in capitalism.


Word Count: 410