Answer:
Both the economies are essential. However monetarily, capitalism provides greater benefits
Explanation:
Capitalism and socialism are forms of formal economies which operate under certain policies and regulations.
While Capitalism issues economic freedom & growth and consumer choices socialism talks about social welfare and reduces business fluctuation. Socialism is governed by the government bodies.
Capitalism is market based and the major intention is to earn profit out of all goods and services produced. In this economy, government has no major role except in devising policies
Socialism talks about production by public enterprises and selling the goods and services at compensated rates to benefit individuals
Answer:
Homestead Act of 1862
Explanation:The Homestead Act of 1862 stated that any current or future citizen, with a mere ten dollars, could claim a homestead of up to 160 acres of government land, and “improve” the land by putting it to use as a family plot. This meant erecting a dwelling and farming the soil for a period of five years.
It reduced corruption because it established that government positions would be granted based on merit, and not on political affiliation. It was successful because parties had to become successful at businesses to earn funding.
