CAPITALISM VS. COMMUNISM
vs.
Capitalism and Communism are two very different economic systems and philosophies. Capitalism
is an economic system characterized by freedom of the market. The means of production,
distribution and exchange are privately owned and operated. Communism can be defined as an
economic and political system in which all means of production are collectively owned and directed
by the state.
In a capitalist economy each person has individual freedoms with limited government interference.
In a free enterprise economy, we often take for granted the freedom that we have. We have the right
to a quality education and freedom to advance our education. We are able to choose an occupation
for ourselves. We choose whether or not to own our own business or to work for someone else.
Unlike in communist economies, we have the ability to leave jobs and move on to others that allow
us to “climb the professional ladder.” But the downside to this is that not everybody will have a
job, and government help is limited. Another major benefit of capitalism is private property, the
concept that people have the right and privilege to control their possessions as they wish. In a
capitalist economy the role of government reflects the desire and goals of its citizens. When
communism mostly puts emphasis on equality, capitalism emphasizes freedom, quality and
independence.
One of the advantages of communism is that everybody has a job. Because of a steady job, workers
seldom face unemployment. In a communist society, everyone is equal. People are expected to
work according to their ability and receive according to their need. The government provides for
the basic needs of all people, from food to health care. Therefore, there should be no greed in a
communist society. Unfortunately, communism rarely works because of human nature. There will
always be corrupt people who don’t follow the rules. People in communist countries are usually
poor. The government only gives them what they need, and rarely more. In addition, the
government decides what everyone needs and, of course, government officials “need” and get more
than citizens.
Another problem with a communistic society is that there is no incentive to work harder than the
next guy. Why work harder if you are only going to get the same reward in the end anyway? The
problem with this is that the country does not benefit from having ambitious people who are
motivated to pursue newer, better ways of doing things. In a capitalist society, the economy grows
faster because people have the incentive to find better, more efficient ways of doing things. In a
capitalist society, inventors, like Larry Page and Sergey Brin (inventors of Google), Bill Gates and
Henry Ford are rewarded.