Socialism Or Capitalism

Essay by PaperNerd ContributorHigh School, 12th grade January 2002

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The question has been around for a little more than two centuries, and it will not leave economists mouths until one of the systems dies and the other system survives, capitalism or socialism? I firmly believe that socialism is far better economical system than capitalism in the way it works and its theories on economics. Socialism is a system of equal opportunity, which gives every person an opportunity to be successful no matter his or her social class or social status. A socialist economy also has the advantage that the economy will not rise to almost no unemployment to a sudden fall in the economy to where the unemployment rate skyrockets through the roof, in which case a socialist economy is not as unstable as a capitalist economy is. One more advantage to a socialist economy is that all the revenue of a nation are equally distributed among all people, except for personal items, instead of tax cut in capitalist economy, which distributes more money to the wealthy minority than to the working majority.

Socialism, over time, will come through to be the system that the world will come to use.

Socialist ideas allow anyone to succeed in life no matter where they live, what they look like, or what their total income is. In other words, a young child living in a bad neighborhood doesn't have to sell drugs to move up in social status. Economist major and my brother, Eloy Alvarez states this about socialist ideologies: "A kid from Compton or Watts has the same opportunity to go to an Ivy League School [if they have the grades] as a kid that lives in Beverly Hills or Westwood." Capitalists disagree however, they say no matter where people live or what their social class is they can succeed...