Capitalism vs Socialism

Topics: Capitalism, Socialism, Communism Pages: 1 (271 words) Published: August 31, 2013
Capitalism vs. Socialism.
“The US is a capitalist there corporations can sue and be sued. They can buy and sell property. They can perform many of the same actions as individuals. A capitalist system is a free market economy or free enterprise.” Belgium is socialism everyone works for wealth that is, in turn, circulated to everyone. Capitalism you work for your own wealth. A socialist economic system operates on the foundation that what is good for one is good for all. Everyone works for their own good and the good of everyone else. The government decides how wealth is spread among the people.” “In a socialist economy, there is no market as such. The government provides for the people. The taxes are usually higher than in a capitalist system. There may be government-run health care and a complete system of government-operated education.” “Capitalism increases the opportunities in the marketplace for personal economic growth. It increases opportunities for entrepreneurs to increase their personal wealth and for societies to grow as well. Hard work is rewarded under a capitalist economy “Socialism seeks to promote equality among people by providing them with many of the same social benefits. Examples of benefits that individuals in a socialist society are provided are educational, health care, and care for the elderly. Socialism means paying for things without necessarily expecting a financial return.” “Consumers and companies control the free market in the US.“ I would rather live in the US than in Belgium no one wants the government too control there money and wealth u worked for it. bizfinance.about.com/od/smallbusinessissues/qt/CapvsSoc...

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