Summary)
Capitalism is an economic system dominated by capital for profit. Labor, goods and capital are traded in the market. Profits are taken by the owner or invested in technology and industry. Wages are paid to labor. The working principle of capitalism develops from the interaction of the five items of commodity, money, labor force, means of production and production. This capitalism has gradually spread to other parts of Europe and the world. But capitalism is criticized for its unequal distribution of wealth and power. Environmentalists also criticize that capitalism will inevitably deplete the earth's limited natural resources and other widely-used resources.
Socialism is to emphasize the
interests of society as a whole, rather than to assure the individual's will
and freedom as much as possible. The critique of socialism is argued that the
socialist economic and political model condemns a particular socialist state
because it is ineffective or incompatible with the freedom of civil society.
There is criticism that it can not make a reasonable economic decision.
New/Interesting
things I learned)
Currently, the Korean economic system adopts a free economic system centered on the capitalist system, in which the government intervenes in the economy. I was interested in the limitations of capitalism on the basis of our country. First, capitalism is criticized as being related to the unequal distribution of wealth and power. Capitalism has a monopoly or oligopolistic tendency; Imperialism, anti-revolutionary war and various forms of economic and cultural exploitation; There are limitations such as the oppression of workers and union members, social alienation, economic inequality, phenomena such as nemployment, and economic instability. This capitalism is considered unreasonable in that many socialists do not plan for production and economic direction, and inconsistencies and internal contradictions arise and must be controlled through public policy. Ravi Batra argued that excessive income and negative inequality would lead to the collapse of capitalism and the emergence of a new social order as the root cause of the financial crisis and the economic downturn. And environmentalists have argued that capitalism will require sustained economic growth and will inevitably deplete the limited natural and other widely-used resources of the planet. I have come to think that capitalism has many limitations and that there must be a way to overcome these limitations.
Discussion Point)
by.http://donamsado.blog.me/220538191128
There are many inequities in society. Capitalism is
also criticized as inequality, as the graph above shows that the top 10% of
people account for 45% of their total income in 2012, the top 5% It accounts
for 30% of income. The bottom line is that the graph with these statistics
supports the claim that income inequality is getting worse. Of course, some
degree of inequality can exist with innate abilities. But it is the problem of inequality, as if someone lives wasted, and some people starve and barely live.
I would like to discuss in detail the reasons for income inequality in social
inequalities and their solutions.
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