Saturday, 1 September 2012

Communism vs. Capitalism

by Charlotte Wright

Communism and capitalism provide two very different ways of life. Is one better than the other?


communism vs capitalism, communism, capitalism, economics for teens, economics for teenagers
An interesting opinion!


Let’s take a look at communism first.

The overall idea of communism is to have a ‘class-less’ society where everyone is equal. At peace. No gender or racial discrimination. The basic fundamentals are:

• Recourses that are needed for production are completely owned by the community.
• All profits made are shared equally between everyone.
• Society is above individuals.
• The community runs the economy.
• All work is shared fairly taking into consideration age and ability.
• There is no private property, everything is everyone’s.

Sound like an ideal world? 

To a few, maybe, but what about the majority of us who have charisma, determination, potential and want the freedom to be the people we want to be? There is no place in a communist world for us. In some cases a few signs of this could result in a death penalty.

So is the communist world all it sets out to be? Even though Karl Marx’s original aim was probably communism in its purist form, where everyone really is equal, human nature is quite simply not capable of carrying this out. Everyone strives to be better than their peers.  Even in supposedly communist countries there will generally still be a leader/ dictator who lives in a bigger house, has a better car and who makes all the decisions.

Is this proof that communism had failed before it even started?


All animals are equal but some animals are more equal than others, animal farm, George Orwell
''All animals are equal but some animals are more equal than others.''
- George Orwell, author of Animal Farm

Now let’s take a look at capitalism.

The overall idea of capitalism is where each individual is free, success is rewarded and failure is frowned upon. ‘Winners win and losers lose’. Each man is to himself. The basic fundamentals are:

• Recourses that are needed for production are owned by private companies.
• All profit belongs to the owner of recourses used to make the goods.
• Wages that you earn depend on your job. For example, doctors get paid more than dustbin men.
• The economic system is self-regulated.
• Individuals are responsible for their own work; if they want a pay rise they will have to work harder.
• All property is private and belongs to the owner.


express yourself

Why do the majority of the world’s countries runs on a capitalist system? What is so appealing about it? Is it the fact that individuals have the right to express themselves?

Some people say the capitalist system exploits individuals. What do you think? Personally I do not agree with that statement as living in a capitalist country means you are free to do whatever you want, if you don’t want to work then all you have to do is resign, but it is all your choice and no one can force you to do anything.

Now we have looked at both of the different social systems, which do you prefer: capitalism or communism?

4 comments:

  1. Great job on this article, Charlotte! I found what you said about the capitalist system exploiting individuals especially intruiging; I've never thought of things that way. Keep up the good work! I'm really looking forward to your next one ={ )

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  2. I really can appreciate this article. I completely agree that there is no exploitation in a true laissez-faire economics system, because there is no one forcing you to take any job or purchase any items.

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  3. Hmmm, I would have to disagree to an extent that capitalism exploits people. While yes, exploitation does happen in a capitalistic society,I think Communism is more exploitative. The motto of it, as I've heard before, is 'From each according to their ability, to each according to their need.' Yes, while on the face that seems just great, but think about it. Regardless of the skill of someone, regardless of how hard they work, they all get the same thing. A doctor who saves lives? Same paycheck as the drunk who serves food at your local diner. I think that demanding someone work the hardest they can, and then giving them the bare minimum for their work, is true exploitation.

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  4. I have to say,this article expresses the real lack of knowledge/intellect.I expected something with dimensions from The Teen Economists.However,let me say it in my own words - Capitalism can be a lot more dictatorial and unchangeable to the poorer part of the society and moreover,it leads to imperialism,which according to Ernst Renan is not the sign of a true 'nation'.Moreover,the history of Soviet is not the only example of Communism.There still lies a modern concept called anarcho-communism.By the way,the George Orwell quote was really nice!

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