Capitalism: all or most of the
land, factories and stores are owned by individuals, not the government, and
operated by profit. Before I start to explain the advantages and disadvantages
of a capitalism society I put the definition of capitalism. The main reason I
did this is because it helps to understand what the capitalist really do. One
advantage for living in a capitalist society is you have the right to own your
own property, whereas in a socialist society the government owns almost
everything of yours so typically it’s not yours at all. With you owning your
own property there’s no one saying what you can and can’t do, there’s no
government controlling your ideas. You’re basically free. Another advantage of living in a capitalism
society is you can own a business and keep all of the profits you make. You don’t have someone from the government
knocking at your door telling you to give them all of the money you made
because they can do that. If you were living in a socialism society you wouldn’t
be able to keep any money that you make, and plus that business probably wouldn’t
even be yours to start off with.
One of the big disadvantages in
living in a capitalist society is competition. What I mean by competition is if
you open a fast food restaurant in an area where there are already three fast
food restaurants then you probably won’t get as many customers as you planned
because they are used to going to the other three. But also you can have a lot
more customers than you planned on because they all want to go to the new
place. And with more customers than planned you would run out of food to make
and won’t have enough. Another disadvantage to being in a capitalism society is
taxes. With owning your own business or house the state can take a lot of taxes
out. You could be paying a lot for something you own just because half that
money is taking out for taxes and for the state.
A good example for living in a
capitalism society is, “Roosevelt’s four additional Rights,”
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Freedom of speech and expression
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Freedom to worship in your own way
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Freedom of want
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Freedom of fear
I agreed with most of your points here. I liked that you included the definition to help clarify what capitalism is. There is something that I disagreed with when you were talking about owning your own property. You said that with owning your own property, no one can tell you what you can and cannot do. This is true for the most part. However, our government does regulate what we do to an extent by requiring permits for several different things.
ReplyDeleteI disagree with you that competition is a disadvantage e. Competition is what helps consumers benefit from a capitalist society. Competition is what keeps prices low for us as the consumer. While it may not necessarily be the best for businesses, it is what keeps this economy going. Our prices are varied and changing because businesses have to compete with each other in order to keep our business. Also, while taxes are a disadvantage, I feel as if it is better to get taxes taken away than to not be able to own our own businesses.