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The Theories Of Making Money Essay

704 words - 3 pages

The Theories on Making Money
There has always been a debate over whether socialism or capitalism is the most prosperous economical system. Throughout the years there have been several theories which show favoritism to each system, and with each of these theories there are the opponents. As the debate raged on, the countries that were opposed to one system or the other now use some portion of each system. In 2013 even countries like China and North Vietnam, who are socialist states, are applying forms capitalism and countries like the United States have adopted socialist practices. While explaining the difference between capitalism and socialism we will find out that as the world mixes ...view middle of the document...

The term ‘Laissez-Faire” means to let it be or hands off. The theory is that the government has no control and keeps their hands off the daily operations, but in no one society today will you find either of these economic systems being followed strictly.
The world today has evolved into a society that embraces all sorts of economic systems. The convergence theory is explained as a government who uses various forms of each economical system to form their own. For example the United States claims to be a capitalist society but they support their citizens with unemployment, social security and subsidized housing. Each of those are forms of a socialist society. China, who is a socialist society, has now opened its borders for trade with other countries and allows there citizens to be a part of ownership. Today there are no true socialist or capitalist governments in the world, they have all seen that through using some form of each system they can better there people in their counties. But with improving the life of your people comes the perils of change.
Opponents of both capitalism and...

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