Show MoreLeadership and Group Theory Midterm Essay
Capitalism vs. Socialism
September 21, 2013
Although Capitalism has a different meaning in various groups, the term is commonly acknowledged as “the private ownership of the means of production, and the coordination of the economy by the market” (Bresser-Pereira, 2012, p. 22). On the surface, the meaning of capitalism seems straightforward; referring to an economic system in which private individuals, rather than governments, own property and businesses. But beneath the surface, strong currents of opinion and theory swirl about the term. Yet in contrast, Socialism is more collective, it allows for everyone to benefit from the economy, instead of only…show more content…
In order for Socialism to be successful, leaders will need to employ influence that will reach groups who will exert a restraining influence. The group of Stakeholders or Wall Street want to keep Capitalism alive, because as it allows them to remain profitable. In a socialist economy they would not be able to use the decision method they are most noted for using, which is the “majority rules.”They would be required to be effective leaders. Make sound decisions and actually care about the benefit of everyone. Socialism allows for equal rights, and for any leader to be successful there has to be a group with his same vision. Member commitment is the key to positive behavior and attitude. When members of a group are included and treated equal, they are more apt to remain loyal to their leader and committed to the group’s goals. With Capitalism, there is always one goal and that is profits. Private businesses that continue to allow abuse of labor laws and wage contradiction will always favor Capitalism, because it will always generate profits and they do not care about what the “rest of the group thinks”. It is my strong belief that Socialism supports leadership and group dynamics, because of the nature of the term. Everyone is included as well as their input. When I vote for an elected official, I want them to have everyone’s best interest. Using a consensus system that allows anyone qualified to run for office regardless of their social status, and everyone
Communism, Capitalism And Socialism Essay
Capitalist Economic System
Capitalism is an economic system that is based on the private ownership of capital goods, or the means of production, and the creation of goods and services for profit. Elements central to Capitalism include capital accumulation, competitive markets, and a price system.
There are multiple variants of capitalism, including laissez-faire, welfare capitalism and state capitalism. Capitalism is considered to have been applied in a variety of historical cases, varying in time, geography, politics, and culture. There is general agreement that capitalism became dominant in the Western world following the demise of feudalism. The term capitalism gradually spread throughout the Western world in the 19th and 20th centuries largely through the writings of Karl Marx.
There are a number of different elements in the capitalist socio-economic system. Capitalism is defined as a social and economic system where capital assets are mainly owned and controlled by private persons, where labor is purchased for money wages, capital gains accrue to private owners, and the price mechanism is utilized to allocate capital goods between uses. The extent to which the price mechanism is used, the degree of competitiveness, and government intervention in markets distinguish exact forms of capitalism.
Capitalism and capitalist economics is generally considered to be the opposite of socialism, which contrasts with all forms of capitalism in the following ways: social ownership of the means of production, where returns on the means of production accrue to society at large, and goods and services are produced directly for their utility (as opposed to being produced by profit-seeking...
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