Communism V.S Capitalism Essay example - 856 Words

Capitalism vs. Communism Throughout history, there have been many systems developed in order to have a better society. Two of the most analyzed, and debated systems that have tired to change an economy for the best are communism, and capitalism. Communism, and capitalism have been compared on many levels, such as why they will or will not work, and which one works better. Throughout this essay I will concentrate on the differences, and similarities of how each operates, along with the benefits, and problems that each of them produces. Both of these economic systems theories came about around the same time, in the late 17th to mid18th centuries. One of the main contributor for capitalism was Adam Smith, writing The Wealth of a Nation†¦show more content†¦Since it is harder for people of communism to see direct results from their hard work, there can be a tendency of people doing less, but still receiving the same as everyone else. Thus, there needs to be some type of point system, which makes sure e ach person does enough work to show for the goods received. If the work is not done then something needs to be done, such as not giving them their share, jail time, or kicked out of the community, resulting in poorer living standards. Capitalism however, gives each individual a choice of the benefits they will receive from working hard or not. You still have the chance to be poor, but unlike communism you have the chance to become rich. In communism the hardest workers receive the same, but in capitalism the hardest workers reap the most rewards. Communism asks the government to decide what is needed for each individual to live and be equal. They tell the community what demands need to be meet to produce and distribute enough materials equally for everyone. Capitalism depends on supply and demand instead of direct commands, in order to make sure there is not to much or to little of certain products. If there is not enough of a product wanted then the price will rise, and since you can receive more money for this product the production will increase. Once there is more then enough of that product on the market, the demand will begin to drop,Show MoreRelated Free Trade V.S. Command Economy Essay797 Words   |  4 PagesFree Trade V.S. Command Economy =============================== Introduction: Politicians, countries and ideologies from all over the world have for years been torn between what they should follow and believe. Countries quarrel over which policies should be adopted and what, how, for whom have been the economists fundamental question. Adam Smith preached for market economies often referring to the invisible hand Karl Marx preached for command economies often referring to The Read MoreAnalysis Of The Cold War : A New History By John Lewis Gaddis2049 Words   |  9 Pagesidolize them. 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