Capitalism paper essay

Capitalism, as described by Adam Smith and communism as described by Karl Marx, are two types of these economic systems.

(McConnell Brue) Analysis The advocates of pure capitalism argue that such as economy promotes efficiency in the use of recourses stability of output and employment and rapid economic growth. Hence, there is little or no need for government planning, control, or intervention.

Capitalism in essence, is a system of economic value in which private ownership is the source of production (Such as factories, and farming). Goods are produced and in return, income and profit are gained.

Capitalism is Soul Destroying In sociology, there are many authors, critics, sociologists, and philosophers that allow sociologists to understand society and its functions. Karl Marx is a famous critic of capitalism, who focused on society in terms of production of goods and economy.