Saturday, September 29, 2018

Economy / Week 4 / JaeSeong Lee


The graph above is a demand-supply graph of capitalism.
Source : https://en.wikibooks.org/wiki/Introduction_to_Sociology/Economy#/media/File:Supply-and-demand.svg

1.Summary
Economy is the way people use the environment to meet their material needs. Capitalism and socialism are the main economic systems. Capitalism is an economic system dominated by capital for profit-seeking purposes. The operating principles of capitalism include goods, money, labor, production means, and production. Such capitalism is also criticized for its unfair distribution of wealth and power. Socialism is an economic system that values the interests of society as a whole. Socialism is criticized for not being compatible with civil liberties.

2.What was interesting / What did you learn
I am very interested in socialism. (However, I am not a socialist.) Among them, the most interesting was the example of the United States. In a 2009 Rasmussen poll, 53 percent of American adults thought socialism was better than capitalism. It was quite interesting to note that such opinion polls have come out in countries where liberalism is most likely to prevail.

3. Discussion Point
In my opinion, socialism is theoretically a more perfect system than capitalism. However, today's pure socialist system is either hard to see or mostly destroyed. So why couldn't socialism succeed?

2 comments:

  1. Socialism is theoretically ideal, but socialism seeks equality of all its members rather than individual efforts. So I think that the individual's desire to work is suppressed.

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    Replies
    1. I agree with you. When comparing the amount of work with others, who would work if they were paid the same salary, even if there were big differences?

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