Join or not?

Joice XIIA4/23

Which one is better? Join or not?

Our answer might be different, but I will tell you what my answer is. To answer this question, we must know what capitalism is. Capitalism is defined as an economic system in which a country’s trade, industry, and profits are controlled by private companies, instead of by the people whose time and labor powers those companies. The pros are economic freedom helps political freedom, if governments own the means of production and set prices, it invariably leads to a powerful state and creates a large bureaucracy which may extend into other areas of life. The second pro is efficiency, firms in a capitalist based society face incentives to be efficient and produce goods which are in demand. The third is innovation, capitalism has a dynamic where entrepreneurs and firms are seeking to  create and develop profitable products. The last one is economic growth, with firms and individuals acing incentives to be innovative and work hard, this creates a climate of innovation and economic expansion. The cons are monopoly power, private ownership of capital enabels firms to gain monopoly power in product and labour markets. The second is monopsony power. Firms with monopsony power can pay lower wages to workers, in capitalist societies, there is often great inequality between the owners of capital and those who work for firms. The third is social benefit ignored, a profit maximizing capitalist firm is likely to ignore negative externalities, such as pollution from production, this can harm living standards.

 We must know about socialism too. Socialism is a range of economic and social systems characterized by social ownership and workers’ self-management of the means of production as well as the polical theories and movements associated with them. This two system are very different. The difference is their philosophy. The philosophy of capitalism is Capital (or production facilities) are owned, operated and executed to generate profits for private owners or stakeholders. The philosophy of socialism is From each person depends on his ability, for each person depends on his contribution. Emphasis on benefits is shared equally between communities or workers for individual salary / wage fulfillment. If I had to choose between thos two, I think I will choose capitalism. It is because of this system is compatible for the third world. The reason is economic growth in the capitalist system is more advanced so that we can advance the third world into a developed countries like in Western Europe, North American, and Japan. 

The biggest challenge if we want to apply this system is can we fulfill the wishes of the entire population to meet our economy? For some people it may be too hard to fulfill, but there must be some people that really want to fulfill this challenge. They will do everything for their country to meet decent economy, for this country. This country isn’t part of Cold War and get help from International Monetary Fund and International World Bank and other organizations. What I have to say is this world is not poor and they aren’t part of Cold War but they can’t dvelop their resources. So they got help from other countries to develop their country with International trade. Although not all of these trade will be accepted, they can lend money from other countries that need some help from them. If it was me, I will leave resources that are so many of them to be managed. This resources may include natural resources and human resources. But, first we have to make the resident of the country to approve the destination of the country that wants to advance. We have to make sure that they really want their counry changed. If it’s changed, that country can be a savior to other countries that need help. It’s because we don’t have to receive help from other countris again, we have to make our country into a developed country that different from before. It might affect assessments from other countries to our country. As a country we certainly have resource, whether it’s a natural resource or human resource, depending on whether we can process it or not. Even if we leave the resource for the next generation, but they can’t develop it into a things that are useful for the nation, then it’s just a lie. To become a developed country is hard, because the are so many challenge that we have to accept. If we really want our country to develop. Then we must join to become one unit that fights together for the country.