Capitalism vs. Socialism : Research Paper

Topic 

Capitalism vs. Socialism : Research Paper

Instructions 

Compare U.S. capitalistic economy to socialist economy (choose from Russia, Iran, Venezuela, Greece, Uganda, Argentina, or Guatemala) from business perspective. Which system yields greater business formation with proven economic success?

Which system hinders broad-based economic growth? Why? Discuss how price is determined, incentives, property rights, taxation, global competitiveness, government regulation, economic planning, stability, inflation, UE, per capita GDP.

Give economic policy recommendations, counter argument, and defend your recommendations using economic facts from the book.

Answer Preview 

A capitalist system is founded on private ownership of the production means as well as creation of products or services in order to gain profits. On other hand, a socialist system is based on social ownership of the production means. For example, common ownership, direct ownership, cooperative business organizations or autonomous state organizations. This paper seeks to compare the United States capitalist economy to Russia’s socialist economy from a business perspective. More importantly, the paper will discuss which system yields more business formation with evident economic effectiveness, which system prohibits broad-based economic development and why.

Word Count: 1700