Question

Based on the information in the article, do you believe you are more of a capitalist or a socialist/communist? Explain. Capitalism by Jessica McBurney

Answer 1

Socialism is the more viable form but it cannot be done away with in terms of capitalistic endeavors.

Explanation:

Human society has absorbed and adopted capitalism for a large time and it was in this period of time when the world experienced its fastest economic growth and prosperity reached a large number of people.

Doing away with capitalism in a globalized world is impossible and would lead to terrible consequences.

Instead, we must look at ways to include socialist ideas and cultural and social welfare in a functional capitalistic society and keep its worst instincts in check through social harmony and strong governance.