Answer: Let's start with a definitive description of each.
Capitalism: is a free market economy, where goods and services are produced by private firms. The goods produced are determined by market forces of Demand and Supply.
Socialism: is an economy where each member of the public owns an equal fraction of the means by which goods and services are produced. The goods produced here are determined by the government.
Explanation: I am going to list some of the Advantages and Disadvantages of each so that you can pick the advantages of the system you are supporting and the disadvantages of the other system in your essay.
Capitalism
Advantages:
- It ensures that only the goods needed are produced as the market is controlled by demand and supply.
- It encourages innovation and personal development as better skills and products lead to higher income.
Disadvantages
- It can neglect to produce necessary goods in the economy when focus is only on goods that give the highest return.
- It leads to inequality between the people in an economy.
Socialism
Advantages:
- It leads to equality, people enjoy equal standards of living
- It corrects market problems such as monopolies, price fixing and cartels.
Disadvantages:
- There is an absence of innovation due to lack of competition, so there is no drive to improve on the current goods, services or methods of production.
- It leads to bureaucratic bottleneck as decisions usually have to be taken by several government officials in a bid to ensure that rules are followed.
<span>They suggested the fittest societies would prevail over others. </span>
In a Confederacy government, states function independently of one another.
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Explanation:
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In the year 1861, during the period of the civil war, 11 southern states joint together on a common agenda and they carried out the affairs of their government separately.
This group of 11 states formed an alliance and this group can be called a confederation. This confederation of states will govern their own region as well as work on a common agenda.
This confederation of 11 southern states is called American confederacy that fought the civil war against northern states. Northern states had different perceptions about the confederacy of southern states. Confederacy of southern states believed in the reliability of the slavery system.
In a Confederacy government, sovereign states acts independently and delegate powers to the central government.
Well I do know Athens wasn't as military as Sparta, seeing as Sparta was the home of the Spartans, some of the greatest worriers the world has ever seen.
The four social structures of Haiti were White Elites, Noirs, Affranchis, and Petits Blancs.
