Thursday, September 22, 2016

W4 Ahn Seo Hyeon(안서현) : Economy

Summary

I read about economy's history and capitalism, socialism.
Growth of society, complexity and capitalism made economy grow.
Commodities, money, labor power, means of production and production are main elements of capitalism. Trading in market makes profits, and profits are owned by owners or invested in technologies and industries. And owners give wages to laborers.
But capitalism is criticized because of inequality and destruction of natural resources.
In socialism, government decide almost all things about production of goods and services. And profits from production are distributed equally to laborers by government. But also socialism is criticized because it is not efficient and compatible.
(By Ryan Cragun (Own work) [Public domain], via Wikimedia Commons)

Interesting point


I want to know that citizens of socialism country are more happy than citizens of capitalism. Equality is guaranteed in society, citizens will be happy because they do not have to compete with other people. But citizens of North Korea, socialism country, escape to South Korea, capitalism country. I think it's because of people's greed. Government workers want to have more money than citizens so they suppress citizens. I want to know other opinions.


Posted by at

2 comments:

  1. UnknownSeptember 25, 2016 at 1:53 AM

    This comment has been removed by the author.

    ReplyDelete
  2. UnknownSeptember 25, 2016 at 1:53 AM

    In my opinion, the socialist citizens will be happy more. Citizens of capitalism central to competition can not be out of money and greed. People possessed by such greed is hard to be happy. However, North Korea is the exception of socialism. In fact, North Korea is only the name to socialism. Because North Korea is social that have strange structure one family monopolize. Looking at the Northern Europe of true socialism, they believe the country and only live thinking about their hobby rather than worry about money.

    -KIM JIEUN(김지은)-

    ReplyDelete

Subscribe to: Post Comments (Atom)