Alana Baker

With both socialism and capitalism having their merits, it is difficult to argue which is better.

Adrian De Guzman, Activities Manager

From the 1950’s to the 1990’s, America waged a bloodless war against the threat that was communism, originating from Russia. Eventually, America came out victorious and was able to prevent it from spreading further in a domino effect. This victory is strongly attributable to America’s capitalist economy, which enabled the country to continue funding weapon manufacturing and industrial development during the war.

Capitalism is an economic system where the means of production are controlled by private individuals. Since consumers naturally search for the best products for the lowest prices, capitalism automatically levels goods to the price that producers are willing to manufacture goods and consumers willing to buy them.

This system also ensures that goods are sold at their “true price,” without the interference of government controlled prices. Therefore, producers are able to sell goods with sufficient margins of profit, and consumers can buy staples without the government regulating up their prices.

Competitive markets also spur a strong incentive to work, as hard work is typically rewarded. Companies owned by individuals have the ability to raise and lower wages depending on how much profit they will receive. If they see that one individual has worked harder than the rest, that worker will be rewarded, in order to ensure that he/she keeps up the hard work, and doesn’t look towards another company for employment.

The benefits of capitalism aren’t just limited to the economy. There are also significant moral perks to it as well. One of the most intrinsic properties of capitalism is the right to private property; this right is what makes the whole system work, as people with private property will tend to make decisions with it to better their own state of being, and indirectly societies. This requires less government regulation in the everyday life of ordinary people, which leads to a way of life than one with a controlling government breathing over your shoulder after you make a purchase.

“Socialism only encourages government intervention in everyday life,” says freshman Cyriac Manjaly. “The base ideals of capitalism promote freedom in the market and throughout one’s entire life.”

While some may argue that with capitalism the rich get richer and the poor get poorer, this isn’t entirely true. Everyone has the equal opportunity to succeed, given they have the right work ethic and drive to further their position in society. In this way, capitalism is essentially a meritocracy: people are judged based on how they perform, or on their merit. Anyone can succeed, and anyone can fail, all depending on their personal choices.

Sophomore Zavien Rodriguez says, “Capitalism is just an overall better system than communism. Most of the world practices it over communism, so it’s obviously superior.”

Despite its merits, some proponents of the out-dated and unrealistic method of governance still call for its use in America today. Though the goals and ideology of a perfect communist government may seem like rays of hope for the future, they all hinge on one thing: perfection. In theory, communism is a great idea; in practice, it’s the oppression of entire countries.