The Role of Capitalism

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Capitalism is an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state. Socialism is a political and economic theory of social organization that advocates for the means of production, distribution, and exchange being owned or regulated by the community as a whole (1).
In this assignment, you will write a 2–3 paragraph essay comparing capitalism and socialism:
Briefly define, in your own words, the concepts of capitalism and socialism.
Identify three pros and cons of each.
This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course. Check with your professor for any additional instructions.
The specific course learning outcome associated with this assignment is:
Examine the role capitalism plays in corporate decision making.

Sample Solution

Capitalism is an economic system where the production and distribution of goods and services are based on a free market. It relies heavily on private ownership and the pursuit of profit, with emphasis placed on competition, innovation, and self-interest. Capitalism allows individuals to own their own businesses in the hopes of making a profit; therefore generating money for their lifestyle. However, it also can create wealth disparity as those who have more resources have an easier time taking advantage of opportunities than those who do not (Wright 2019).

Pros:
• Encourages competition which leads to innovation
• Rewards hard work/effort
• Allows entrepreneurs to start their own businesses comfortably

Cons:
• Can lead to income inequality
• Makes some people too wealthy while others are left behind without basic needs met
• Can cause environmental damage by incentivizing companies to maximize profits over sustainability measures

Socialism is an economic system that focuses primarily on social equity rather than individual gains or profits. It emphasizes public ownership, shared resources, and government planning as opposed to capitalism’s focus on private property rights, market forces, and entrepreneurship. Socialism strives for equality among citizens by providing everyone with access to education, healthcare, employment opportunities regardless of one’s ability or background (Wright 2019).

Pros:
• Achieves greater equality between genders/races/economic statuses • Provides access to basic needs such as healthcare & education • Increases job security due to government intervention in labor markets

Cons: • Disincentives entrepreneurs from taking risks since there is no potential reward • Government control might lead to inefficient allocation of resources • Can stifle personal freedoms due lack of options available.

 

11 Dec ‘14339964.5/5

Brush with death

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By Nicholas Klacsanzky

GanpatipuleI was on an excursion in Ganapatipule, which is a town on the coast on the west side of India, arranged right on the Indian Ocean. I was with my long-term companion, Janu, and his mom, remaining in an inn for a couple of days. The get-away so far was the epitome of unwinding: eating crisp mangoes, getting up late, feasting out constantly (for the most part fish curry), swimming a couple of times each day in the Indian sea, and kidding around with old buddies.

Around three toward the evening on a cloudless day, the sea shore on our side was vacant of individuals other than my companion, his mom, and I. It was liberating to be distant from everyone else on this immense sea shore, known to be a blessed spot among Hindus. Ganapatipule is named after the god Ganesh, and there is a popular Ganesh hallowed place close there where a swayambhu (a model raised from the earth itself as a divine being) is venerated. Washing in the sea around this region should scrub individuals of their pessimism and visiting the place of worship decontaminates people also.

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As I began to swim in the warm sea, hopping over waves, I abandoned my companions. I was wearing a white kurta, or a conventional clothing for men in India, which was overwhelming in the water, however my feet was effectively contacting the sea floor consistently. I generally washed my garments by swimming in the sea when I was there.

In any case, at one moment, I felt that my feet couldn’t contact the sea floor any longer and I dove into the water, weighted somewhere near my garments. The waves continued coming and now they were threatening, as I was getting sucked into the profundities each opportunity they came—regardless of whether I emerged from the water and attempted to swim back to the piece of the sea where I could get an a dependable balance. I had been sucked into a riptide, truth be told, and was stuck in a plunging valley, in spite of my hard endeavors to arrive at security and my hollering to my companions out yonder.

In the wake of battling intensely for a couple, long minutes to conflict with the suction of the riptide, and yelling to my companions out there close to the shore without much of any result, I started to unwind, tolerating my destiny. I never again battled to arrive at the edge of the sea valley to get a decent footing, and during the time spent being maneuvered into the sea and returning up to the surface, I conversed with God so anyone can hear. I talked about what I had fouled up in my life and what I did well. I closed in reflection that my life was satisfying generally speaking, and I felt prepared to bite the dust, tolerating the current condition as the real world.

However as soon I gave up myself to the circumstance, a gigantic wave came and pushed me out of the riptide and the profound valley I was sucked into. On the float of the wave, I arrived close to my companions, who appeared to be bewildered at my demeanor and my expressions of depiction. They were ignorant that I experienced been difficulty. However, it didn’t make a difference at that point—I was glad to arrive at land again and felt my life was reestablished.

I later took in the time I swam was foreboding for swimming at Ganapatipule, as the locals accept the god Ganesh washes around three in evening in the sea there. Maybe Ganesh pardoned me for the interruption, and discharged me from the resentment of the sea against divine convention.

 

 

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