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Capitalism Vs. Communism: An Everlasting Debate

1093 words - 4 pages

Salem 2
There is a long-running debate about whether communism or capitalism is preferable and shows more of beneficial aspects. Capitalism is defined as an economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations. While communism is a system of social organization in which all economic and social activity is controlled by the state. The principle of capitalism is if one is successful and hardworking will keep improve and progress in life. While the principle of communism is to keep all the people the same, a lot of people may say that this is a good thing but when talking about real life this would add laziness and demotivation because hardworking people would gain the same credit as lazy people. Capitalism and communism are the two main economic systems that are used by governments nowadays. Obviously capitalism is a much better economic system to be used by a state; practical uses and statistical facts qualify capitalism as much more successful. Also, capitalism is more beneficial to the state, common citizens, and business owners. It would be very useful to test the two systems according to practical uses of the two systems on states and monitor which states succeeded and which states failed.
One of the best ways to end the capitalism-communism debate is by testing the two systems practically in real life uses. For example, USA and Germany are two economic superpowers that use capitalist based economy; USA has the best economy in the world and the highest GDP ($15.68 trillion) in the world while Germany is ranked the fourth country in highest GDP (3.4 trillion). China and North Korea are two communist countries, although China is an economic superpower it is said to be economically overrated as its GDP is $ 9, 020,309 million while the GDP per capita is $ 6,091. Chinese citizens are extremely poor relative to their country's enormous GDP that’s why china is said to be economically overrated. Bill Gates the well-known billionaire said "capitalism has worked very well. Anyone who wants to move to North Korea is welcome. In this quote bill gates wanted to describe the communism failure particularly in North Korea. North Korea's economy is in depression around 1-3 million people have died in famine that began in the mid-1990s also they face major economic problems like unemployment and accumulated debts. Although communism main principle is that wealth is distributed equally to the people, most of North Korea's population is starving to death. It is clear that communism is a failure when testing it practically and with statistical facts.
Capitalist states (also known as free economy) don’t interfere in the economy as much as communist states (also known as planned economy), this would help the country to use its recourses more efficiently and also to concentrate more on its political issues and help the country to...

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