Sociology Five Paragraph Essay

The world nowadays is dividing into two main kinds of economic system which are
capitalism and socialism. They have distinct idea of determining the economic. Socialism
considers society before individual while capitalism appreciates selfness the most important.
However, every country need both of them in order to make the country stable. For instance, the
biggest economic country such as United States of America, uses both ideas to sustain their
financial growth. For the US, the three significant characteristics of their economy from
Socialism and Capitalism are basic needs of people, competition in the market, and unequal class
system.
According to World GDP Ranking in 2014, the country with the most rate of GDP was
United States of America(World GDP Ranking 2015, 2015). It showed that the country needed to
be both producing and selling large amount of products in order to reach the top. The reason for
this success was because the forceful competition within. Every companies put much effort to be
the best in the country. It generated people to work hard and focused on the work they were
doing. This led to new innovations and efficient production which also improved the
management of resources(Pettinger, 2009). These were the by-product of Capitalism because it
influence people to work hard to achieve their own success. However, sometimes there are
unequal resources division which made the one with lack of money and power lost before even
start. Personally, I think it is a good way to urge the economy, but too much can cause inequality.
Due to the competition in the country, the one who smarter andmore capable will have
more power or make more money. It is because of capitalism society that develop peoples mind
to fight for their own survival, to be selfish in straight. As a result, there will be classes dividing
the people in the country, it depends on the money and property they owned. The rich tends to

live a luxurious life and spend their money in wasteful objects and services while the poor need
to work all day in order to survive day by day. For instance, the Kardasian family where they
doing nothing but being pretty and still own $101 million net worth (Schumann, 2015). They are
rich because they received abundance amount of heritages. On the other hand, the lowest wage
paid in US is $5.15 per hour* which is very low comparing to the cost of living(STATE
MINIMUM WAGES, 2015). I think it is unfair to the one who work hard all their lives, but still
surely be called the poor. The government should solve this problem more efficiently to stop the
problems of inequality between two classes.
Even though USA is known as capitalist country, the US government are very concerned
about citizens health and wellness. In the country, everyone need to pay different kinds of tax
such as income tax and sales tax which is in a high rate. There are heavy penalty for the one who
escaped from paying the taxes. These taxes that every citizens paid will be using in community
benefits such as constructing roads, improve water quality, public transportation, and more. Not
only the the public utilities, but the money also spent on helping poverty and homeless in the
country(cbpp.org., 2015). The government also providing heath care for everyone who needed
and support free education in all public school. This is the characteristics of socialism which is
very useful and effective. I think it helped a lot of people in the country to have a better living
and gave an opportunity for the one who don't have. Good education can leads poor people to
havemore chance in getting a better jobs and make more money.
At last, I believe that there is nothing perfect in both socialism and capitalism. Although
in capitalism it lets people have freedom to own what they want, but sometimes only the lucky
one born with privileges and some dont, so the money they earned is not from what worked for.
In contrast, socialism which I consider it a better choice for the society, but the world is too

complicate to use this system. Finally, I want to bring up one of the quotes from Winston
Churchill which stated that The inherit vice of capitalism is the unequal sharing of blessings.
The inherit virtue of Socialism is the equal sharing of miseries. There is no flawless equality on
this planet.

*According to http://www.ncsl.org/research/labor-and-employment/state-minimum-wage-chart.aspx

References
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