1.
Summary :
Economy is something that play a major role
in the society. People material needs need to be fulfilled in order for them to
survive in this world. Material needs included food, clothes, shelter, and
other primary or secondary essential
that helped with an individual’s life. For economy of a bigger scale
like a country or an organization, it includes production, exchange,
distribution, and consumption of goods and service of that area. When I say
that economy play a major role in the society it’s because in this modern world
everything most of the standard in society is based on one’s economics.
There is a new theories that talk about economics such as
Capitalism theory and Socialism theory. Capitalism theory is about an economic and social system which the owner
is the one who get profit from the production and they will pay a certain
amount of money/goods to the labor. Meanwhile Socialism refers to an economics
which they do direct worker ownership Socialism don’t use the labor service because
they think it will make an unfair power and wealth distribution between individu.
2.
What was interesting/ what did you learn :
While reading the subject I learn that Socialism theory is
kind of against the Capitalism theory. And they hold a very different perspective
towards economics and how to use it. I found that Socialism is tend to want
everything to be equal meanwhile in Capitalist they don’t use that.
3.
Discussion Point :
As I learn about the differences of the two theories, I want
to know which theory is more useful in this modern era? As the world gets more
and more globalize, of course the needs is also will be different than the old
days. And I also want to know which theories/ideology that is used by most
countries in this world?
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