Argumentative Essay about Economic Systems
by: Dawson Simeroth
Capitalism is defined by Webster's Dictionary as: "a way of organizing an economy so that the things that are used to make and transport products (such as land, oil, factories, ships, etc.) are owned by individual people and companies rather than by the government." Capitalism is much more superior than socialism because it accommodates for both the needs of the individual person as well as the needs of the society as a whole.
For example, capitalism allows the prices of all goods and services to be set by the market. One can observe this even today with the prices of certain goods rising and dropping due to supply and demand. Some might say that unstable prices make for an unstable economy. To address this, socialism has regulations so that prices stay fixed and the economy remains stable. However, this is not the case with capitalism. The changes in price create a constantly fluctuating market, which encourages consumers to purchase certain products when the price is low, and then when the price of the goods rise, the consumer purchases a different product. This allows for a wide range of products to be produced and sold, resulting in a very stable economy. Overall, Capitalism's market pricing is a positive aspect that benefits both the producers and the consumers.
In …show more content…
Capitalism is greatly beneficial because of its positive aspects such as; allowing the prices of goods to be set by the market, establishing competition between producers, and giving producers the freedom to manufacture what the market desires. Capitalism has been tried and found successful many times, but socialism has been found wanting time and time
by: Dawson Simeroth
Capitalism is defined by Webster's Dictionary as: "a way of organizing an economy so that the things that are used to make and transport products (such as land, oil, factories, ships, etc.) are owned by individual people and companies rather than by the government." Capitalism is much more superior than socialism because it accommodates for both the needs of the individual person as well as the needs of the society as a whole.
For example, capitalism allows the prices of all goods and services to be set by the market. One can observe this even today with the prices of certain goods rising and dropping due to supply and demand. Some might say that unstable prices make for an unstable economy. To address this, socialism has regulations so that prices stay fixed and the economy remains stable. However, this is not the case with capitalism. The changes in price create a constantly fluctuating market, which encourages consumers to purchase certain products when the price is low, and then when the price of the goods rise, the consumer purchases a different product. This allows for a wide range of products to be produced and sold, resulting in a very stable economy. Overall, Capitalism's market pricing is a positive aspect that benefits both the producers and the consumers.
In …show more content…
Capitalism is greatly beneficial because of its positive aspects such as; allowing the prices of goods to be set by the market, establishing competition between producers, and giving producers the freedom to manufacture what the market desires. Capitalism has been tried and found successful many times, but socialism has been found wanting time and time