Communism Vs. Capitalism

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Capitalism vs. Communism By: Christopher Hernandez For many years the United States as looked upon communism as an evil plague and must not be able to spread to other countries. The Cold War is a perfect example of this. We spent 40 years in terror due to this way of thinking. Now we understand that communism is not an evil idea just another way of organizing a country. Capitalism and Communism has its own ideas on how a government should run, whether it’s through advancement of people or global dominance. According to Minsky capitalism is not just the market economy, but it is also a financial economy. Minsky states that there are two sets of prices. The first set is the prices of current output and the second set consist of the prices of assets. Capitalism is an economic system characterized by freedom of the market. It is different from many other economic ideas by the fact that capitalism gives individuals freedoms with minimal government interference. In a market capitalist system land is private property. From this business can be formed by individuals by buying the land and equipment. A business organizes and directs production of its merchandise. The United States is known as a post-industrials economy, which means that the United States is a service economy. There has been several different types’ of capitalism that has influenced the world. First, was Adam Smith’s idea about capitalism, which is privately owned businesses in capitalism. A global assembly line is a capitalist’s dream come true. It allows companies to do business in free trade zones to manufacture goods throughout the world at the lowest possible cost to the company. This assembly line enables companies like Nike, with corporate headquarters in the U.S. to shut down their factories here, and move over seas where there are less restrictions and cheaper labor. Where as the production
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