Question

What is your opinion on capitalism and why would you prefer it over socialism. Please be very detailed on what your opinion of capitalism is.

Answer 1

Capitalism is an economic state in which the trade is managed by owners of the firm while socialism says that trade and economy is managed through ownership of state. I prefer capitalism over socialism as people are working as per their own self interest and earns money according to their hard work they puts into. As some of the people are very passionate about their work and are ready to put extra efforts than others which creates inequality in income among people. Socialism focuses on equal distribution of wealth among people, does not differentiate between a hard worker and person who enjoys leisure. This is the reason why socialism is very unfair to me and I prefers capitalism over it.