Capitalism vs. Socialism Essay Example | Topics and Well Written Essays - 1000 words

Capitalism vs. Socialism - Essay prototypeAs the essay discusses capitalism increases competition whereas fabianism discourages competition. Every country needs domestic nutriment production for its own national security and independence. Domestic food production can be increase only with the help of competition. In nom-competing economies or in socialist countries, the absence of competition makes people lazy. The resources in this world are fixed whereas the population size is increasing. It is difficult for the increasing population to find emend living standards if they adhere to a particular level of productivity. Socialism on the other hand does not believe much in competition. It works on certain impractical principles which may appear costly at a glance.This discussion stresses that none of the socialistic world or communist countries succeeded in achieving the objectives of socialism which is the major reason why communism wiped off from Europe and on the verge of destr uction in other parts of the world as well. Not only China, even Cuba has recently announced crowd of scotch reformation policies which were earlier black listed by these countries as the bi-products of capitalist economy. Capitalism utilizes the willpower of individuals, particularly entrepreneurs, to foment economic activity. Capitalism is based on the assumption that individuals operate based on egotism interest however, by doing so they not only help themselves, but also propel others towards economic success. (Socialism vs Capitalism). One of the major criticisms against capitalism is that it makes two types of citizen in a country rich and poor. However, it should be remark that even after years of implementation of socialistic principles, countries standardised China, Cuba and Soviet Union failed to reduce the chess opening surrounded by the rich and poor in their territory. On the other hand, it should be noted that capitalist countries like America and Britain not o nly remain wealthy, but also succeeded in reducing the gap between t