Friday, March 9, 2018

Capitalism vs Socialism vs Communism

 Three of the most common government systems are Capitalism, Socialism and Communism to decide which of these three government systems is the most rational and efficient we will dissect each one listing their pros and cons. Starting with Capitalism, a system in which trade and industry are owned by private companies rather than by the state which allows economic freedom and growth and favors the choice of the consumer. However in the hands the wrong people capitalism can become imbalanced. Socialism is the segue from Capitalism into Communism. Both Communism and Socialism are when trade and industry are regulated by the government which looks good on paper but doesn’t take the individual consumer into account. Taking these statements into account I can concur that Capitalism is the most rational system.

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