Capitalism vs Socialism
There are different types of economic systems the countries use to run their governments. Capitalism and Socialism are the most common systems adopted by the governments and generally these systems have been characterized to be the opposite of each other. On one hand, Capitalism is based on the premise that the means of productions or resources, in all of its forms, are owned by individuals, therefore the economy would depend on the profits of those individuals could generate, making this system dependable of the private sector. On the other hand, the Socialism is based on the principle that the sources are owned and controlled by the State or public and the government is in charge to make all the economic decisions …show more content…
This system is called socialism. Under a socialist system, “everyone works for wealth that is in turn distributed to everyone”, unlike capitalism “where you work for your own wealth” (Peavler). A great example of a country with a socialist system was Libya under the regimen of Muammar Al Qaddafi. Despite the belief of many people about the country, “Libya, which western media described as a military dictatorship, was in actual fact one of the world 's most democratic States” until the overthrow of the government in 2011 by rebel’s groups (Chengu).
Defending a socialist economy, Qaddafi believed that aspects as, healthcare, housing, education, and primary services, like electricity and water, were human rights and therefore, they should not be restricted to anyone nor have to pay a high price to obtain them.
Healthcare was free to all the citizens, and since it was not dependent on private corporations but running by the government, the medical assistance was equally imparted among the …show more content…
Capitalism propose a system based on the management of the resources by individuals with the right to privatized them and make profit of them, which conduces most of the times to a corrupt and immoral system with governments at the service of a few wealthy groups. This opens a wide gap between their people resulting in social unrest. On the other side, is the socialist system, based in the control and distribution of the resources by the government. And while some people may argue that this system is almost utopian because it also depends on the people who is in power, at least this system in its essence, propose a fair distribution of wealth among their people, resulting in the creation of a society with equality between its
There are different types of economic systems the countries use to run their governments. Capitalism and Socialism are the most common systems adopted by the governments and generally these systems have been characterized to be the opposite of each other. On one hand, Capitalism is based on the premise that the means of productions or resources, in all of its forms, are owned by individuals, therefore the economy would depend on the profits of those individuals could generate, making this system dependable of the private sector. On the other hand, the Socialism is based on the principle that the sources are owned and controlled by the State or public and the government is in charge to make all the economic decisions …show more content…
This system is called socialism. Under a socialist system, “everyone works for wealth that is in turn distributed to everyone”, unlike capitalism “where you work for your own wealth” (Peavler). A great example of a country with a socialist system was Libya under the regimen of Muammar Al Qaddafi. Despite the belief of many people about the country, “Libya, which western media described as a military dictatorship, was in actual fact one of the world 's most democratic States” until the overthrow of the government in 2011 by rebel’s groups (Chengu).
Defending a socialist economy, Qaddafi believed that aspects as, healthcare, housing, education, and primary services, like electricity and water, were human rights and therefore, they should not be restricted to anyone nor have to pay a high price to obtain them.
Healthcare was free to all the citizens, and since it was not dependent on private corporations but running by the government, the medical assistance was equally imparted among the …show more content…
Capitalism propose a system based on the management of the resources by individuals with the right to privatized them and make profit of them, which conduces most of the times to a corrupt and immoral system with governments at the service of a few wealthy groups. This opens a wide gap between their people resulting in social unrest. On the other side, is the socialist system, based in the control and distribution of the resources by the government. And while some people may argue that this system is almost utopian because it also depends on the people who is in power, at least this system in its essence, propose a fair distribution of wealth among their people, resulting in the creation of a society with equality between its