The Great Debate

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Recommended: Compare socialism and capitalism

During the Second Industrial Revolution two philosophies combated each other on a global scale. Laissez-Fair economics had ruled for the last few centuries and had created many prosperous nations but abuses of power by wealthy men had turned public opinion against it. Ever since its creation, Socialism begged to be placed head to head with Capitalism and it had finally gotten its chance. Laissez-Fair economics and Socialism both have their pros and cons when implemented in society. The battle between these two ideological works its way throughout society alternating between the protests and debates in the U.S. today to the great terror of the Cold War.

Laissez fair economics remained popular for many years after their creation during the Enlightenment era. Many governments had seen the benefits of allowing their people to govern their own economic policies business grew providing concrete evidence of its effectiveness. The lower tax rates associated with a hands off approach remained popular with the people of any nation as did the increased in personal privacy. Laissez-Fair economics allows the free spread of ideas and the motivation that any man can make his tomorrow better than today. It is this motivation that causes men and women to rise from poverty to head of a multi-billion dollar business. No one will hand this sort of opportunity to you and there will be obstacles but the beauty of such a system is the possibility for growth and self betterment despite where you start from.

Even though it has incredible benefits a Capitalist society still has its drawbacks. To put it simply Capitalism encourages greed and certain abuses of power will always remain present in the system. Those who constantly attempt to ri...

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...market economics. These two styles of government clash over basic human motivation. Laissez-Fair economics have many benefits and better account for human nature. Its downfall is the greed and apathy of those involved as human corruption creates discontent in workers who can easily be enticed by socialism. A Socialistic government holds the promise of utopia and equality for those who have been downtrodden by society. Unfortunately such a society would never work as long as human beings are involved. With no ability to raise or lower your standard of living such a society quickly robs a person of their self worth and desire to contribute to society. While each society has its advantages and disadvantages Capitalism is the only society to survive for any length of time as all previous Socialist societies have become dictatorships before they reached a utopia.

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