... to live their life in any manner he/she chooses, as long as they do not violate the rights of others. People are allowed to run their own businesses in a free trade market in such a way that he or she creates the wealth for themselves. With capitalism, the idea of becoming wealthy motivates people to work harder. It would depend on how ... for people. The American government has taken parts of both capitalism and socialism, along with knowledge of how the economy was tainted during the start of the 1900's, and formed a trade and industry system that has proven efficient to meet our need...

• Word Count: 2083
• Approx Pages: 8
• Grade Level: High School

... population. By definition, capitalism is an economic system controlled chiefly by individuals and private companies instead of by the government. Through this, it stresses private economic choices. People are free to decide how they will earn and spend their income. Companies may choose which goods and services to produce and how much to charge for them based on the wants ... . Historically, communist societies achieved less disproportionate financial inequality, but the standard of living was lower than that of capitalist societies. This is a major reason that capitalism is better. Also...

• Word Count: 1083
• Approx Pages: 4
• Grade Level: High School