Capitalism Vs. Communism

Capitalism is an economic system based on private ownership where the people control the market. In other words, Capitalism is a free market, where we are free to own and operate our own business and make personal profit. We can buy, sell, and trade whatever we want here in America. Like most of the other thriving countries in the world today, United States is run by Capitalism. Unlike Communism, Capitalism allows the government to be less involved the economy. Capitalism is based on the economy run by the people, and allowing the market to wholly determine the economy.

Communism is a system of social organization in the hopes of creating a classless society. Property and the means of production are held in common amongst the people. The term Communism can also be applied to the movement aiming to overthrow Capitalist order and create a society in which all goods would be commonly owned. Communism has proven to be less successful than Capitalism, as the Capitalist countries have thrived while some Communist countries are poor and are struggling.

Overall, the system of Capitalism allows more personal freedom for the people. In a system of Capitalism, we can control our own destiny. After researching this topic I am glad to be living in a society of Capitalism rather than a society of Communism.