Capitalism Is Best For Our Economy - 1326 Words

We live in a small city with a population of 70,000 citizens. Although we are in the center of the most productive area in the world, we suffer from high poverty rates and unemployment rate per capita in our nation. How is it that amongst all the wealth coming in to our city, there are people that are struggling on a day to day basis to obtain some of that affluence? Is it possible to create a new and improved economic system that can benefit everyone? If so, will it even help our economy or just make it worst? I strongly believe that a combination of both socialism and capitalism is best for our economy because it will lower the poverty rate, lower the unemployment rate and improve the education system. If we integrate certain concepts from both socialism and capitalism we can create a whole new economic system that will benefit everyone in our city extending to our nation as a whole. In order to do this we have to pick and choose what ideas are best in the long run. In our city, on e of the biggest problems that we face is the high poverty rate. Many citizens are being affected by this first hand. They’re lacking stable jobs that will allow them to take care of their priorities such as bills, mortgages, car payments, etc. Most of these people are living paycheck to paycheck. Hard-working people should have stable jobs and be able to maintain their priorities. As of right now, our economic system in the United States is capitalistic. If we continue down this path ofShow MoreRelatedSocialism - The Best Economic System Essay1461 Words   |  6 Pagesover politics and which economic system works the best. How needs and wants should be allocated, and who should do the allocating, is one of the most highly debated topics in our current society. Be it communist dictators defending a command economy, free market conservatives defending a market economy, or European liberals defending socialism, everyone has an opinion. While all systems have flaws and merits, it must be decided which system is the best for all citizens. When looking at both the financialRead MoreThe Corporate American Model Of Capitalism1316 Words   |  6 PagesCapitalism is good. In reading the articles, it seems scholars are either pro or anti-capitalism. The corporate American model of capitalism is built upon free enterprise and encourages competition. It’s also called the Liberal/Social Democratic model. Our economy, supposedly, encourages and rewards competition and equality. Yet the lack of competition and equality in our economy are issues scholars take aim at the most. George (2013) wrote in his editorial, â€Å"In the United States, income inequalityRead MoreEssay on The Rise of Capitalism955 Words   |  4 Pagesa great system of economics, which would change our lives forever, was formed. That system was called capitalism. Capitalism is an economic system that was created by combining many parts of many other economic systems. 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