Why Is Capitalism Better Than Communism

Capitalism

Capitalism and Communism are two total different systems. Adam Smith believes that the society should be Capitalism, which means there should be no laws limiting businesses. However, Karl Marx believes in Communism, which states that the society should unite and work as a whole. While communism seems to create a more equal society, however, the idea of Capitalism is correct, because it allows innovations, higher efficiency, and it is beneficial for the country’s economy.

Capitalism promotes new technologies and innovations. For example, during the industrialization, there were brilliant inventions followed by some innovations that become people’s daily supplies today. According to the textbook, “Edison perfected the incandescent light bulb, and later invented an entire system for producing and distributing electrical power” (Danzer p.232). The development of electricity completely changed America at the time of

According to the article Division of Labor, Assembly Line Thought - The Paradox of Democratic Capitalism, “This increased efficiency comes through the continuing division of labor, specialization and economies of scale”(Price 2004). Huge efficiency can be gained when a team of people work together for one goal. People are able to make money easier when productions are broken down into small tasks and assigned to different people. Another example is when Price states that “The assembly-line worker requires no large-scale knowledge, no vision, no concept of the whole” (Price 2004). This allows workers to focus on only one skill, which means they will make money easier and faster. Workers only have to know their specific tasks and nothing more, and as they do the same work everyday for years, they will eventually be professional, therefore they will need less time to make more product. Furthermore, there is another important reason why a society is better when it is