Compare and Contrast Free Market Capitalism to Socialism – M…

In a brief Word document, comparing contrast, free market, capitalism to socialism. There has not been one historic case of socialism working in any country in the world. Socialism always leads to some form of command, economy, or variation on communism in which very few people, typically led by a dictator or oligarchy control all of the means of production, supply and income.

Free market, capitalism, or mix the colonies, as we have had here in the United States, for most of our history, have led to the greatest inputs to the world at large, including income, jobs, creation, and opportunities for freedom. In socialist or communist, run countries, the means of production, forced work mandates and ownership control always significantly lie with the government. We only need to look at country, such as Cuba, China, Russia, and North Korea for these examples.

Note that the philosophy and theories presented about socialism and communism oversell the shared benefits to all, which is a reality that is never attained. Typically, we find that under socialism or communism, there are limited employment, opportunities, typically very high inflation, devaluation of a country’s currency, and overall economic freedoms, as well as other personal freedoms are extremely limited.

For this assignment conduct research using at least two sources outside of course materials to offer a 3 to 4 paragraph comparison of capitalism or free market, economies, and socialism/ communism. Submit your assignment as a word document or a PDF file. Use APA style to list your references at the end of your document. Not more than 10% of your submission should be content that is paraphrase or directly quoted from your sources used. Additionally, any submission that is AI generated will receive a zero grade.