Notice: Payments for answers will end 4/10/2017. Click for more info.
You have new items in your feed. Click to view.
Question and answer
Q: What are the benefits and drawbacks of living in the US, a capitalist system, versus living in Belgium, a socialist economic system?
A: The benefits of living in the US , a capitalist system are ; 1. The right to own property is central to man?s existence. [ Private ownership of property (including land, businesses and goods) gives individuals security and a means to control their own affairs. Ownership brings responsibility and allows individuals to plan for the future so as to provide for themselves and their families. 2. In
capitalist systems, society is ruled by the individual. Who would want to live any other way? 3. In capitalism, the market determines price, including pay - the price of labour. If some people are paid huge sums, that is because other people believe they have unique talents which are worth paying for. If they fail to perform, then they will stop being rewarded so highly. This is all part of a dynamic capitalist system which values individuality and rewards ability and risk-taking. The drawbacks are as follows : 1. The wealth of the earth belongs to all men or to none. Under capitalism, property is concentrated into the hands of relatively few well-off people, leaving the many with nothing and at the mercy of the rich for work, charity, etc. This leads to gross inequality, exploitation and misery. Socialism seeks to redistribute wealth and to ensure that the means of production are at the service of the whole of society, so that all can benefit and none will go without. 2. Capitalism rewards people in perverse ways. Some footballers or company chief executives earn a thousand times more than nurses. Wealth is concentrated in the hands of the few. The rich get richer, the poor get poorer. The poor are fooled into thinking that they can gain in capitalism, when really all their wages do is hold them in place ? their savings are swept away in the first moments of unemployment, a concept central to capitalism but one that socialism destroys. 3. Capitalism may use the language of human rights, but it only really respects the right of the weak to starve in the gutter, and the right of the strong to keep them there. ]
bongche|Points 1705|
Question
Asked 4/25/2012 9:00:35 PM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
26,802,803 questions answered
Popular Conversations
What does throttle mean?
4/16/2018 10:25:30 AM| 3 Answers
What is the best way to control Type II diabetes?
Weegy: Type 1 diabetes (previously known as insulin-dependent diabetes) and Type 2 diabetes (previously known as ...
4/10/2018 6:12:01 AM| 2 Answers
Error 401- Unauthorized
4/13/2018 4:59:54 AM| 2 Answers
What's one way we can check our answer to 2 ×10 = 20? A. 2 ÷ ...
Weegy: A throttle body is part of the air intake system that helps control the amount of air that gets into the engine. ...
4/13/2018 7:46:31 AM| 2 Answers
The science of the creation of maps and charts is called ...
Weegy: The science of the creation of maps and charts is called cartography. User: Which of the following would ...
4/13/2018 8:36:16 AM| 2 Answers
Weegy Stuff
S
R
L
R
Points 160 [Total 298] Ratings 0 Comments 20 Invitations 14 Offline
S
P
L
P
P
P
P
Points 144 [Total 570] Ratings 0 Comments 144 Invitations 0 Offline
S
1
L
L
P
R
P
L
P
P
R
P
R
P
R
Points 132 [Total 12935] Ratings 0 Comments 122 Invitations 1 Offline
S
Points 50 [Total 50] Ratings 0 Comments 0 Invitations 5 Offline
S
P
L
Points 35 [Total 126] Ratings 0 Comments 35 Invitations 0 Offline
S
Points 11 [Total 11] Ratings 0 Comments 11 Invitations 0 Offline
S
Points 10 [Total 15] Ratings 1 Comments 0 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
S
Points 6 [Total 6] Ratings 0 Comments 6 Invitations 0 Offline
S
Points 3 [Total 3] Ratings 0 Comments 3 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.