Before I can go ahead and explain both Capitalism and Socialism and discuss the pros and cons of the two terms. First what is Capitalism and what is Socialism? When people think of Capitalism they think of Wall Street Tycoons and high commodity traders. Capitalism is "an economic and political system in which a country's trade and industry are controlled by private owners." Meaning if you have a business and it's striving the government will come to you for funding projects and that means you control the government. For an example of Capitalism, our current President of the United States of America Donald Trump, who might buy property and sit on it until prices go up and by that he is taking advantage of the free market. By him doing this
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Another con about Capitalism is that when a company grow and get huge they are allowed to buy out, crowd out or even push out a company so if you are a small business you would have to watch out. That is the end with the whole Capitalism charade, now moving on to Socialism. Socialism is similar to capitalism but different in this way instead of one person owning everything and decided how the country should, socialism relies that the community should be the one in charge of trading goods and just not one person. Looking at the pros of Socialism is that every citizen will have health care and have a good education. Another Pro is that is makes everything balanced no one is richer or poorer which makes everyone more equal. A last good pro is that with socialism it makes a classless society. Cons of socialism one thing is that taxes will be much higher because we will legit be paying for everyone's medical and education. The last con of socialism would be the fact people would have to deal with government almost all of the time which no one likes. Looking at both terms and realizing the pros and cons of the two. We needing a perfect society would have to come with a something in-between capitalism and socialism because they are both beneficial but to a certain
Another con about Capitalism is that when a company grow and get huge they are allowed to buy out, crowd out or even push out a company so if you are a small business you would have to watch out. That is the end with the whole Capitalism charade, now moving on to Socialism. Socialism is similar to capitalism but different in this way instead of one person owning everything and decided how the country should, socialism relies that the community should be the one in charge of trading goods and just not one person. Looking at the pros of Socialism is that every citizen will have health care and have a good education. Another Pro is that is makes everything balanced no one is richer or poorer which makes everyone more equal. A last good pro is that with socialism it makes a classless society. Cons of socialism one thing is that taxes will be much higher because we will legit be paying for everyone's medical and education. The last con of socialism would be the fact people would have to deal with government almost all of the time which no one likes. Looking at both terms and realizing the pros and cons of the two. We needing a perfect society would have to come with a something in-between capitalism and socialism because they are both beneficial but to a certain