1. Summary
(I concentrated on capitalism in this article.)
There are capitalism and socialism in the global economic system. While socialism does not recognize individual property, capitalism recognizes individual property. Capitalism has evolved from 16th century Europe, and in capitalism, individuals exist in the economy as consumers, laborers, and investors. The company produces products by means of money and labor provided by individuals. Also, Capitalism's income is determined by demand and supply.
Capitalism is criticized for causing economic instability and causing social inequality. Marx also criticized capitalism for reasons of exploitation of labor.
2. What I learned/was interested
(I concentrated on capitalism in this article.)
There are capitalism and socialism in the global economic system. While socialism does not recognize individual property, capitalism recognizes individual property. Capitalism has evolved from 16th century Europe, and in capitalism, individuals exist in the economy as consumers, laborers, and investors. The company produces products by means of money and labor provided by individuals. Also, Capitalism's income is determined by demand and supply.
Capitalism is criticized for causing economic instability and causing social inequality. Marx also criticized capitalism for reasons of exploitation of labor.
2. What I learned/was interested
Our country's economic system is capitalism. So I was interested in learning about these capitalism. I've never studied the history of capitalism before, but now I found out that the economy is a complex thing that works by various factors.
3. What I want to discuss with you
Despite the fact that capitalism is receiving much criticism, the main economic system in the world is capitalism. And states with socialist economies are hardly exist. Also, China, a socialist nation, has tried to introduce capitalism partly to society by attempting to establish a market economy. Why this situation is happening?
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