Question

Do you favor a capitalist or socialist economy? Please list three positive things about the economy you least favor. What are three negative things about the system you DO favor?

Answer 1

I favor socialist society as it provides equal opportunity and standard of life to all the people where the government controls and distributes wealth.

Capitalist societies support individual rights where more freedom is given to individuals that help them perform well. Individuals have the right to different things and one among them is right to property, so they work hard and accumulate wealth. Social security measures are very strong in capitalist societies that help individuals, elders, children and women.

In socialistic society, government plays more dominant roles in the lives of individuals. This type of government treats everyone equally, so everyone whether they work less or work more, they get almost the same. It needs more resources to provide everyone equally thus the quality and standard of living is low.