Question

Discuss the benefits and problems of capitalism and socialism, and evaluate which system provides the greater overall benefit to society.
Answer in photo

Answer 1

Answer:

Capitalism affords economic freedom, consumer choice, and economic growth. Socialism, which is an economy controlled by the state and planned by a central planning authority, provides for a greater social welfare and decreases business fluctuations

Capitalism is the preferred economic system to bring the masses out of poverty and to make them productive citizens in our country and in countries around the world. Capitalism rewards merit, socialism rewards mediocrity.