Many people do not understand the significance of a capitalist economy versus the disastrous communist economy. I will begin by describing both economic systems.
Communism, otherwise known as Marxism, is an economic system in which everyone wins the same amount of money, no matter their work hours, job nor effort. For many people, this system can be alluring. This especially is appealing to the lower classes- the hard workers. There is another point about communism: everything is government owned. This means that you cannot have a private business and all the goods are government owned and that all the goods are distributed among society “for each according to his ability, to each according to his need”.
In the modern world, a Marxist society would be very appealing. The idea that everyone has an equal share, even though it can be defined by taking from the rich and giving to the poor, seem fair. There is, however, a flaw to the plan. A Marxist world would require a type of human nature that is not present. It would have to eliminate greed and jealousy and it would require the best effort from everybody in order for the society to be stable. If everybody did little effort, expecting to get paid equally as the people who work hard, the economy would be unstable and, eventually, collapse. Also, humanity has a lot of jealousy and greed that would be evermore present if everyone gets paid equally with different work hours. Marxism would work if those who work the hardest and have higher abilities are willing to get paid equally as those who have fewer abilities and work less. This is very unlikely. Communism would lead to slacking and inefficiency.
Communism in the 20th and 21st centuries hasn’t worked. In the cases of China and the Soviet Union, there has been a rather totalitarianistic way of government. There is an upper class that decides all the decisions and everything is government owned. The government cannot put 1 sixth of the world population into one big communist society.
Meanwhile capitalism is an economic system that allows private ownership. Dictionary.com describes capitalism as:
“An economic system in which investment in and ownership of themeans of production, distribution, and exchange of wealth is madeand maintained chiefly by private individuals or corporations,especially as contrasted to cooperatively or state-owned meansof wealth.”
This allows that the ones with higher abilities win more than the ones who don’t. In my opinion, this is the fairest deal. I would not want to be in a job in which I had to work 12 hours a day and receive the same amount of money as my next-door neighbor who only works 2 hours a day.
Capitalism uses willpower to foment business and economy.
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