What are the advantages and disadvantages to Capitalism?
Capitalism means that most land and businesses are able to be owned privately and is not owned by the government which allows businesses to be in charged of their own profit.
The advantages to living in a capitalist country is that business owners have the freedom to run their own business and can control their own profit. Many people after earning their hard earned money do not want to have to give it back to the government. In the exercise we did during class with chocolates, we won our chocolates by beating our partner in rock,paper,scissors, shoot! and at the end we had to give them all back and divide equally among people. No one liked giving what they had earned back. People that live in a communism environment do not have the advantage of controlling their own profits because the government takes the money from them and gets to decide how much money everyone makes. Another advantage to capitalism is that it also adds competition in the market. There is also lower taxers compared to people living in a communist country.
The disadvantages to living in a capitalist country is that there is the chance your business is going to fail because the government is not going to help to bail you out. The economy can turn out to fail when all these small businesses start failing because they can no longer compete with the big businesses. There is a minority of people in America is that has most of the money making some big businesses and a lot of small businesses. Another disadvantage is that there is no benefits like health care, daycare, and schooling. Americans pay out of pocket for things like health care, daycare, and schooling. College is expensive and many Americans go into debt over paying for school which makes them not want to spend a lot of money on a lot of other things which can cause the economy to fail. In a economy based on capitalism, a economy has a chance to either strive or to completely fail.
How can the disadvantages be minimized?
To minimize the disadvantages to capitalism is to make it easier for small businesses to strive, give less handouts to big businesses like when the government helped out big car companies and some of those car companies ended up giving bonuses to their CEO's, and to help more people with less money that need daycare, or desperately need health care, and people that want to further their education.
Hey Erin, I thought you did a good job explaining capitalism in your blog. One of the things I really liked that you did was you compared capitalism to communism. To be a capitalist in today’s modern day society you really are throwing yourself out there and taking a huge risk. It’s kind of like an all or nothing type deal. A lot of people don’t make it in the capitalist world. If you fail you have no one to help you out and its rough. Unemployment is now a huge issue in the United States and it affects millions of people across the globe. Also I thought the pictures you used in your blog were very appropriate for the post. Overall I thought it was very well put together and I thought you did a great job.
ReplyDeletehey Erin your blog is awesome. I love the fact that you have included so many information and facts in this prompt. the use of pictures and links really add to the emphasis of your argument. You seem like you have blogged very often.
ReplyDeleteThis was an awesome post. You incorporated pictures, and you did a great job answering the question. I agree with your advantages and disadvantages because everything you stated was very true. I also believe that there is more advantages then disadvantages for having a capitalist government. I thought your comment about minimizing the disadvantages was very interesting. I didn't even look at it that way when I answered that question. The government should definitely help the people with less money instead of focusing on bigger businesses. Your post was really attention-grabbing and made me want to keep reading good job!
ReplyDeleteI loved this post. I think you did an amazing job on showing the differences between the advantages and disadvantages. Also the pictures created a nice visual to better understand what you were saying. I agree with all the points that you made and also believe that you did a great job comparing communism and capitalism. I also agree with your comment of the disadvantages and how they can be minimized. Capitalism is very difficult to survive in because if you are alone and have no help your business could fail. I agree with your statement saying “The economy can turn out to fail when all these small businesses start failing because they can no longer compete with the big businesses.” Overall I thought your post was very detailed and you could tell you put a lot of time into it.
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