26 Julao, Karen Grace P.

March 16, 2016

2C-PH

Sir Bodoraya

Capitalism and Socialism, these theories represent two inherently opposite ways of
thinking. Capitalism is very individualistic; it utilizes the willpower of an individual to foment
economic activity. Here, individuals operate based on self-interest; however, by doing so they not
only help themselves, but also help others towards their economic success. On the other hand,
Socialism (also known as Marxism) believes putting first the society before the individual.
However, there is a seen defect on this type of system. It is dependent on a type of human nature
that is hard to come by. For this system to work, only little jealousy and greed should exist and
people must have a general feeling of charity and a willingness to work their hardest for the good
of everyone.
Today, I might say that both Capitalism and Socialism manifest itself today in our
country. Based on the happenings in our country, a lot of people are very individualistic.
Example of it may be some of the greedy politicians. The power belongs to them who are rich
and have many resources. Thus, they hold politics, hold governmental positions, and decide
policies of nations. Often, the poor are neglected.
Also, as we can see Capitalism promotes competition amongst the people. One way of
showing the competition is the social media. People always think that its all about who owns the
most, who earns the most, who has the best education, who owns the most things, who has the
nicest clothes, who has the new up-to-date technology. Thus, they are only out for themselves,
disregard their neighbors and takes advantage of the less fortunate. For Socialism, I can say that
only few people show it. But the important is it still exists in their small own ways.
In conclusion, both capitalism and socialism have their high and low points. It really only
depends on the freedom of an individual whether he/she going to abuse it.