POSTING by Dong Min CHOI (W4)

W4. ECONOMY
It said largely capitalism, socialism, economic measures(GDP, Gini Coefficient).
Capitalism is an economic system and social system in state. It's work is consist of commodities, money, labour power, means of production, production. There are essential element of nation's economy. And it is many shape of many nations(include South Korea). In Capitalism nations, competition is very important element in economy activity. And, competition governs nations's economy, make rich person and not.
Socialism is also an economic system and social system in nations like Capitalism. But its concept is differ from Capitalism. In this concept, academically competition is meaningless. In this shape of nations, it emphasis fair of opportunity(to maximize people's potentialities,power).
GDP(Gross Domestic Product) is a measure of size of the its country. And Gini coefficient is measure of size of the inequalty. A value of 0 expressing total equality and a value of 1 expressing maximal inequality.

I very interested that Capitalism, Socialism. Each countrys, take different shape of that. For example, recent North Korea take Socialism, and our country take Capitalism. Two countrys are have very different economy situation. It is spring from gap of economy concept. And i really funny that its criticisms that show different result each concepts.

Now, i guess two concepts are completely contrary economy theorys. And Is Socialism  really embodied in real country. It need to more study. Thanks.