Capitalism vs Socialism Term Paper

Capitalism vs Socialism Term Paper:

Capitalism and socialism are the two opposed philosophies and worldviews which are reflected in economics and the structure of the human society and every philosophy has its own idea and image of the proper way of the development of the human civilization. Capitalism is a bit older school of thought in economics and it appeared with the rapid changes introduced by the industrial revolution, when the industrious countries started to introduce machinery into production and made the process of production faster and cheaper and it opened wide opportunities to earn more money. The main differences between capitalism and socialism are the equality of the people (there are no rich and the poor) and the role and duties of the government in the maintenance of these ideas.

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Capitalism is based on the thought that the world is divided into the rich and the poor, because everyone has the opportunity to use his brains and brand new ideas to start his own business and earn much money. The market is free for competition and new ideas and only the strongest and the best survive; it can be also called the variant of the natural selection in economics. On the contrary, socialism has the main idea in the equality of the whole society and the role of the government is to provide the people with free health care services, education, security, etc. The resources of the country are supposed to be shared among the people equally in order to destroy the existence of different classes of people (the rich and the poor).

The two schools of economics have their own advantages and disadvantages, but the probability of the establishment of socialism is fairly questioned and the majority of the economists believe that it is impossible, because the human nature has its own characteristic of striving to be better than others and possess more things than other people, so the point of equality is difficult to achieve. If one wants to complete a good term paper on capitalism vs. socialism, he will have to learn the general core aspects and principles of each school of economics and define their pluses and minuses. The student is required to organize a logical paper and the professional analysis of the topic supported by the reliable evidence from the high-quality sources.

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