Capitalism and Socialism
An economic system in which the investment in and ownership of production, distribution, and exchange of goods or wealth is made by private individuals or corporations, which is in contrast to cooperatively or state-owned means of wealth or socialism.
Capitalism and Socialism are contrasting in this area. Socialism advocates that the community owns the means of investment, production, and distribution. Or in essence every product is owned by the community. Individual ownership is nonexistent. This type of system alleviates the stress of capitalism by removing the competitive nature of a capitalistic society.
Free capitalism and enterprise can be used interchangeably. Enterprise is taking on important or difficult ventures (businesses?) that require a certain level of boldness and energy to complete. In essence free capitalism = free enterprise. American capitalism was founded on the simple idea that you should be rewarded for the work you put forward. Ambition is rewarded for the few who have the drive and energy to realize their dreams. Along the way America’s form of capitalism has become hybrid of capitalism and socialism. Free enterprise is abundant, ambitious Americans are rewarded for their boldness and energy in the form of large paychecks, or companies that have become empires and have turned a brand name to common knowledge.
Democracy Capitalism could be the best definition for America’s current economy. The use of private companies where ambitious men and women thrive and the socialistic behavior of monopolistic energy companies, rail roads, mail system, firemen, policemen, etc. This hybrid was a result of democracy, and the rights the people have demanded. Our economy wouldn’t function nearly as well if every city or every state had its own unique set of rail road tracks, or way of sending mail, or policemen and firemen working under contract of a certain willful individual. Let alone our national defense, the nation would be prone to all manner of attacks if the nation’s defense was only the local militia.
Is our system horribly flawed by not staying true to one way of doing things?
Should we adopt pure capitalism or pure socialism?
Capitalism and socialism have their own good and bad parts, but this form of capitalism democracy seems to be working best, at least for now.