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Capitalism And
Socialism

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What
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Capitalism is an economic system where the means of production are

owned by private individuals. "Means of production" refers to resources
including money and other forms of capital. Under a capitalist economy, the
economy is substantially run by individuals who own and operate private
companies. Decisions over the use of resources are made by the individual
or individuals who own the companies.
In a theoretical capitalist society, companies that incorporate are treated by
the same laws as individuals. Corporations can sue and be sued; they can
buy and sell property, and they can perform many of the same actions as
individuals.

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Under capitalism, companies live by the motivation for profit. They exist to
make money. All companies have owners and managers. In small
businesses, the owners and managers are generally the same people, but
as businesses grow, the owners may hire managers, who may or may not
have any ownership stake in the firm. In those cases, the managers are
called the owners' "agents."
The job of the management is more complex than just making a profit. In a
capitalist society, the goal of the corporation is maximizing shareholder
wealth.

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Under capitalism, it's the government's job to enforce laws and

regulations to make sure there is a level playing field for privately run
companies. The amount of governing laws and regulations in a
particular industry generally depends on the potential for abuse in that
industry.

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Capitalist
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1. Hong Kong
2. Singapore
3. New Zealand
4. Switzerland
5. Australia
6. United States
7. Mauritius
8. Georgia
9. Canada
10.Ireland

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Advantages
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1. Encourages competition - In capitalist societies, it's survival of the fittest when

it comes to businesses. New businesses are frequently created and compete with
others in the same industry. A competitive market means that higher-quality goods
and services are being produced and provided.

2. Provides consumers with choices - One byproduct of the competitive market

is that consumers have more options to choose the products and services they
prefer.

3. Potential for economic growth - With more businesses and more choices,
there's more spending by consumers, which means that companies can hire more. All
of these factors can lead to economic expansion.
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Disadvantages
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1. More inequality - The basic premise of capitalism is survival of the fittest. People
who don't have in-demand skills may have a hard time catching up once they fall
behind. The gap between the rich and the poor widens; the rich get richer, and the
poor get poorer.

2. Lack of social safety net - There might not be as many provisions for social
benefits programs such as universal health care in capitalist societies.

3. Opportunities for corruption - In capitalism, there isn't always a separation of

government and private business. That means wealthy business owners may lobby
for favor among politicians, further increasing the gap between those with power and
those without.
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What
Click Is Socialism?
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Socialism is an economic system where the means of production,

such as money and other forms of capital, are owned to some degree
by the public (via the state). Under a socialist system, everyone works
for wealth that is in turn distributed to everyone.

A socialist economic system operates on the premise that what is

good for one is good for all and vice versa. Everyone works for their
own good and for the good of everyone else. The government
decides how wealth is distributed among public institutions.

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In a theoretical socialist economy, there is a more limited free market

than in an archetypal capitalist economy, and thus the taxes are
usually higher than in a capitalist system. There are government-run
healthcare and educational systems for taxpayers. Socialist systems
emphasize more equal distribution of wealth among the people

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Socialist
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1. China
2. India
3. Bangladesh
4. Vietnam
5. Tanzania
6. Nepal
7. North Korea
8. Sri Lanka
9. Portugal
10. Laos

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Advantages Master title style
Socialism

1. Reduces income inequality - In socialism, wealth is distributed

among the population, and relative poverty is reduced.

2. Social stability and infrastructure - With programs such as

universal basic income, universal health care, and tax-funded education,
individuals may be less likely to fall upon hard times.

3. Greater rights for workers and individuals - Socialism protects

workers from exploitation, because they own the means of production.
There are often strict labor laws in place as well.
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Disadvantages title style
of Socialism

1. Depends on cooperation - In socialism, the idea is that everyone is

working together toward the same goals. However, there is no guarantee that
individuals will always want to cooperate with each other.

2. Government may abuse power - The government decides how wealth

should be distributed, but a corrupt government could mean that resources
and wealth are not distributed fairly.

3. Fewer rewards for innovation - Socialism doesn't depend on competition,

which means that workers and businesses might not be interested in
continually improving their products and services.
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Information
Revolution

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What
Click is Information
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Information Revolution refers to the period of change where
technology has reduced the role of human labor and shifted it from a
manufacturing-based economy.

Computers and other technologies are beginning to replace many

jobs because of automation or outsourcing jobs offshore.

The term information revolution describes current economic, social

and technological trends beyond the Industrial Revolution.

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The main feature of the information revolution is the growing economic,

social and technological role of information. Information-related activities
did not come up with the Information Revolution. They existed, in one form
or the other, in all human societies, and eventually developed into
institutions, such as the Platonic Academy, Aristotle's Peripatetic school in
the Lyceum, the Musaeum and the Library of Alexandria, or the schools of
Babylonian astronomy. The Agricultural Revolution and the Industrial
Revolution came up when new informational inputs were produced by
individual innovators, or by scientific and technical institutions. During the
Information Revolution all these activities are experiencing continuous
growth, while other information-oriented activities are emerging.

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Thetotheory
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The term information revolution may relate to, or contrast with, such widely used terms
as Industrial Revolution and Agricultural Revolution. The following fundamental aspects
of the theory of information revolution can be given:

1. The object of economic activities can be conceptualized according to the

fundamental distinction between matter, energy, and information. These apply both
to the object of each economic activity, as well as within each economic activity or
enterprise. For instance, an industry may process matter (e.g. iron) using energy
and information (production and process technologies, management, etc.).
2. Information is a factor of production (along with capital, labor, land (economics)), as
well as a product sold in the market, that is, a commodity. As such, it acquires use
value and exchange value, and therefore a price.

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3. All products have use value, exchange value, and informational value.
The latter can be measured by the information content of the product, in
terms of innovation, design, etc.
4. Industries develop information-generating activities, the so-called
Research and Development (R&D) functions.
5. Enterprises, and society at large, develop the information control and
processing functions, in the form of management structures; these are
also called "white-collar workers", "bureaucracy", "managerial functions",
etc.
6. Labor can be classified according to the object of labor, into information
labor and non-information labor.
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7. Information activities constitute a large, new economic sector, the information sector
along with the traditional primary sector, secondary sector, and tertiary sector,
according to the three-sector hypothesis. These should be restated because they are
based on the ambiguous definitions made by Colin Clark (1940), who included in the
tertiary sector all activities that have not been included in the primary (agriculture,
forestry, etc.) and secondary (manufacturing) sectors. The quaternary sector and the
quinary sector of the economy attempt to classify these new activities, but their
definitions are not based on a clear conceptual scheme, although the latter is
considered by some as equivalent with the information sector.
8. From a strategic point of view, sectors can be defined as information sector, means of
production, means of consumption, thus extending the classical Ricardo-Marx model of
the Capitalist mode of production (see Influences on Karl Marx). Marx stressed in many
occasions the role of the "intellectual element" in production, but failed to find a place
for it into his model.

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9. Innovations are the result of the production of new information, as new

products, new methods of production, patents, etc. Diffusion of
innovations manifests saturation effects (related term: market saturation),
following certain cyclical patterns and creating "economic waves", also
referred to as "business cycles". There are various types of waves, such
as Kondratiev wave (54 years), Kuznets swing (18 years), Juglar cycle (9
years) and Kitchin (about 4 years, see also Joseph Schumpeter)
distinguished by their nature, duration, and, thus, economic impact.
10.Diffusion of innovations causes structural-sectoral shifts in the economy,
which can be smooth or can create crisis and renewal, a process which
Joseph Schumpeter called vividly "creative destruction"

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