In this post I will discuss arguments for capitalism and the next examining arguments against capitalism. Let us start:
1.In a laissez-faire, the market controls the prices, this Includes pay. If an indiviual is being dilligent in his job, he will be reward by either being promoted or a raise in his salary. If one is lazy, he will not be rewarded by his employer. In a socialistic society, the government determines the prices and people are not as movitated to work because "The government will take care of them".
2. In a society whose economy is based on the principles of capitalism, society is run by the indivual. In a socialist society, it is run by the state. The people know whats best for society and as a result are leaders and innovators. These are the principles that have made America a great nation. In socialism, the government regulates everything. They hamper innovation and productivity because, as I said above, people are not as motivated to work because everyone is equal. They only work because they are forced to do so to keep the economy functioning.
3. Competition in a capitalistic society produces better and more efficient products. If you think about, the United States is a leader in medicine, food products, and military. The United States has the best healthcare in the world, the former Soviet Union didn't. More people have come to the United States for treatment for a variety of ailments that includes cancer and heart problems. The United States is also on the top of the worldwide food chain. If this country falls, there could be potential of a global famine. Finally, the United States has the best military. Due to the innovation of engineers and others, the U.S. has built high tech weapons that not even the Soviet Union could match up with.