SOCIALISM

Advantages of Socialism

 In environments with plentiful resources, socialism provides all members with their
survival needs, creating a stable social environment.

 Members that cannot participate economically - due to disabilities, age, or periods of

poor health - can still impart wisdom, emotional support and continuity of experience to
the system.

 Freedom from work provides opportunity for some societal members to explore non-
economically-productive pursuits, such as pure science, math and non-popular arts.

Disadvantages of Socialism

 Since there is no culling and no economic advantage to working harder, socialistic

systems provide no inherent incentive to participate. This makes socialism internally
unstable.

 Due to a lack of incentives, socialistic systems tend not to be competitive, making them
externally unstable.

 In times of plenty, immigrants are drawn to the free resources offered by socialistic
systems, while potentially adding nothing economically productive.

 In times of scarcity, resentment of non-economically-productive members of society

increases, causing a destabilizing effect on the society and economy.

Advantages--people's needs are a priority. Food, housing, education and health are paramount in
a socialist society. You would not have million dollar mansions subsidized and lying vacant
while homeless people abound. If you are poor you can get required medical treatment.
Education is free and available to all.

Disadvantages--Corporations and rich people are not the priority in a socialist country; they
would pay a considerable tax so that the above advantages can be realized. You could not
develop a piece of land in opposition to people's wishes in the community. If you have resources
you are expected to pitch in for the less fortunate. Taxes will be higher. Corporations would be
subject to democratic control.

The above is an idealization; the practice in reality probably varies.

advantages of socialism

 == Socialism provides the government with control of virtually all functions of a society. It
can be used to provide all citizens with their survival needs, creating a stable social environment
as long as production of those needs meets the demand for them and absolute power over the
economy does not corrupt the government that has it. ==
 == People who cannot participate economically (due to mental disabilities, age, or poor
health) are still valued and cared for as long as the government is more compassionate than the
family (who would be empowered and responsible under free enterprise). ==
 == When their basic needs are provided whether they work or not, there is opportunity for
citizens to explore non-economically-productive pursuits, such as pure science, math and the arts
or drugs, sexual promiscuity and television. ==

Read more:
http://wiki.answers.com/Q/What_are_some_advantages_of_socialism#ixzz1A1xjXV00

CHARACTERISTICS OF SOCIALISM

1. government ownership of resources other than labor

2. centralized economic decision-making

3. removal of exploitation.

4. lack of competition.

5. economic inequality.

6. employment opportunities

7. Central economic planning

8. Public ownership of the means of production

9. No profit
CAPITALISM

ADVANTAGES OF CAPITALISM

Capitalism is an economy in which the entire economy is left in private hands. The government's
sole task is only to provide a safe legal framework in which capitalism can operate safely without
fear of fraud etc...

Producers compete to see who can have the best and cheapest product in order to survive
economically. This means the consumer will be given cheaper and better products.

People have to work hard in order to survive (as opposed to socialism and welfare states)
keeping everyone working hard.

Innovators and inventors can take advantage of the free market to make a profit. This makes
capitalism countries the primary sources of innovation and new technology.

If people work harder, they can make greater profit and improve themselves. (human nature).
Therefore, people work hard. By contrast, in socialist states where the money is taken by the
government for distribution, there is little urge for economic betterment and hard work because
no matter how hard you work, you always make the same.

If capitalism is not followed, many disadvantages will come about. Example: The U.S. The more
money that the United States taxes from the taxpayers and businesses and pours into social
programs (aka wellfare), the less will be the taxpayers desire to work hard as his ability to obtain
economic betterment is eliminated. The wellfare recipients will loose the push to work created
by potential starvation and continue to not work (don't blame them, there's no reason to).
Eventually more and more taxpayers will stop working and stop paying taxes in order to join the
welfare recipients in order to live with no work. This has and will cause nearly all of the U.S.'s
economic troubles.

DISADVANTAGES OF CAPITALISM

 It is not acceptable in most modern societies to allow portions of their population to be

"culled".

 Those in power tend to construct rules that limit diversity and competition, thereby
weakening the flexibility and strength of the system as a whole.
 Vast imbalances in opportunity encourages revolt, which disrupts and destablizes the
system.
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Characteristics of Socialism