1.summary
The topic of this article is the economy. It deals with the history and functions of the economy and focuses on two themes, capitalism and socialism. According to this article, the economy began to appear when the advent of goods and services began and economy has become more complex as a result of society growth.
Capitalism is privately controlled by means of capital and production or means of production. The goods, capital and labor produced in capitalism are traded in the market, profits are reinvested for reproduction or the owner takes them, and wages are paid in return for labor.
Socialism is the theory of the economic organization that advocates the management of the means of production or the ownership of the workforce. It argues that a balanced distribution of wealth should be achieved. Most socialists take the view that capitalism controls capital and creates wealth through exploitation and make an unequal society.
2.interesting/new things I learned
I usually had negative opinions about socialism. But after reading the article, my view has changed. The distribution of wealth in capitalism is uneven and biased. The rich become wealthier, and the poor become poorer. But socialism has a concept of pursuing the interests of social communities, not individuals. As socialist claims, the ideology of socialism in pursuit of equal distribution of wealth seems to be quite a good idea.
However, the problems of socialism can not be ignored either. The means of production are communized and controlled by the government, the freedom of the individual is deprived. This may possibly hinder development.
Of course, I don't think the perfect system can exists. Can we not develop a system combining the virtues of capitalism and socialism?
3.Discussion
What is a new system to replace capitalism? What happens to our society when the evolution of artificial intelligence is rapidly replacing the human workforce? Will capitalism still exist? I would like to discuss whether or not capitalism can survive in a rapidly evolving society, and think about the new system to replace capitalism.
The topic of this article is the economy. It deals with the history and functions of the economy and focuses on two themes, capitalism and socialism. According to this article, the economy began to appear when the advent of goods and services began and economy has become more complex as a result of society growth.
Capitalism is privately controlled by means of capital and production or means of production. The goods, capital and labor produced in capitalism are traded in the market, profits are reinvested for reproduction or the owner takes them, and wages are paid in return for labor.
Socialism is the theory of the economic organization that advocates the management of the means of production or the ownership of the workforce. It argues that a balanced distribution of wealth should be achieved. Most socialists take the view that capitalism controls capital and creates wealth through exploitation and make an unequal society.
2.interesting/new things I learned
I usually had negative opinions about socialism. But after reading the article, my view has changed. The distribution of wealth in capitalism is uneven and biased. The rich become wealthier, and the poor become poorer. But socialism has a concept of pursuing the interests of social communities, not individuals. As socialist claims, the ideology of socialism in pursuit of equal distribution of wealth seems to be quite a good idea.
However, the problems of socialism can not be ignored either. The means of production are communized and controlled by the government, the freedom of the individual is deprived. This may possibly hinder development.
Of course, I don't think the perfect system can exists. Can we not develop a system combining the virtues of capitalism and socialism?
3.Discussion
What is a new system to replace capitalism? What happens to our society when the evolution of artificial intelligence is rapidly replacing the human workforce? Will capitalism still exist? I would like to discuss whether or not capitalism can survive in a rapidly evolving society, and think about the new system to replace capitalism.
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