Mercantilism Vs Capitalism Essay

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Socialists differ from communists in that they do not believe that the workers will overthrow capitalists suddenly and violently.

Nor do they believe that all private property should be eliminated.

Capitalism is based on private ownership of the means of production and on individual economic freedom.

Most of the means of production, such as factories and businesses, are owned by private individuals and not by the government.

These laws of supply and demand work in a cycle to control prices and keep them from getting too high or too low.

Karl Marx, the 19th century father of communism, was outraged by the growing gap between rich and poor.Communism is based on principles meant to correct the problems caused by capitalism.The most important principle of communism is that no private ownership of property should be allowed.Communist China now allows its citizens to keep some of the profits they earn.These categories are models designed to shed greater light on differing economic systems.Their main goal is to narrow, not totally eliminate, the gap between the rich and the poor.The government, they say, has a responsibility to redistribute wealth to make society more fair and just.Socialism, like communism, calls for putting the major means of production in the hands of the people, either directly or through the government.Socialism also believes that wealth and income should be shared more equally among people.Supporters of Microsoft say that forcing Microsoft to allow companies to bundle arch-rival Netscape's web browser with Microsoft Windows is not unlike making Coca-Cola include a can of Pepsi in each six-pack it sells. In a capitalist system prices are determined by how many products there are and how many people want them. If prices drop, demand usually increases until supplies run out.Then prices will rise once more, but only as long as demand is high.


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