Economy
1. Summary
The economy means all the activities that make, distribute, use the goods and services needed for human life, including the order and system surrounding the activities.The ancient economy was a subsistence economy. But someone made and distributed goods and services as economy grew. The larger the economy, the more complex it becomes. From the medieval times, the economy has no longer for the living owing to invention of letters. For these reasons economy expanded globally.
Capitalism and Socialism are typical examples of economic systems. The former was evolved by five items. They are commodities, money, labor power, means of production, and production. Capitalists invest capital into means of production. Then, they put the labor to produce the commodities, which return as money in the market. This money becomes the interests of the capitalist. This process is working principle of capitalism.
The latter is a reaction to capitalism. Most socialists claim that it is unfair to focus solely on the capitalists with power and wealth, and their wealth comes from exploitation. They also argue that capitalism caused class and inequality. Thus, they advocated socialism, an ideal economic system, which distributes the force and the wealth to everyone. In the past, many countries, including the Soviet Union, have adopted socialism and now they have failed. That countries are currently choosing a liberal economic system.
The latter is a reaction to capitalism. Most socialists claim that it is unfair to focus solely on the capitalists with power and wealth, and their wealth comes from exploitation. They also argue that capitalism caused class and inequality. Thus, they advocated socialism, an ideal economic system, which distributes the force and the wealth to everyone. In the past, many countries, including the Soviet Union, have adopted socialism and now they have failed. That countries are currently choosing a liberal economic system.
2. Interesting contents
Capitalism's history is very interesting. Originally, economy is subsistence economy and then it changed. I think imperialism's major cause is capitalism. Due to surplus products, capitalists need to consumer to make profit. This imperialism had a tremendous impact on the political, economic, and society of the colonies. Therefore, it is important that economic systems can change all aspects of the country.
3. Discussion
What is the new economic system that will replace socialism and capitalism?
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