Anyways, yes capitalism does work. As long as companies are competing fairly, capitalism can always work. Regulating capitalism is not good at all, whatsoever. It only leads to more tyranny and suffering in the end. So yes capitalism is better. It allows for more work and jobs to be created!
History proves that unfettered capitalism creates the most wealth and jobs! Socialism ruins a do society and destroys everything in its path. We must establish a Lassiez-Faire Capitalist system in America if we want to see our country prosper economically. Government intervention always does more harm than good. Calvin Coolidge was a great economist.
The total class equality goal of socialism can never be accomplished. The reason is people want to be successful and be able to have success with a business. Socialism stops this from happening because its not business friendly at all so starting new businesses would be to much of a hassle so jobs would be too hard to find and a business owner cant become successful.
The problem with this argument is the same as with many arguments: The answer is usually not white or black, but rather grey.
Capitalism, for all its glory and success, certainly has its downsides, and I think those can be made apparent by an examination of the U.S.'s current economic issues.
Socialism is incredibly impractical in actual usage, though the theory appeals to some.
As for the argument, I think that Capitalism is better and more efficient than Socialism, but I think that the more perfect economy would be one that combines the two. The western powers in Europe tend to have more Socialist policies than here in the States, and I think some of those have proven to work better, namely their government run healthcare.
Turning a public service into a private business is one thing, but it can easily get out of hand to the point that those involved on the business end lose sight of what healthcare is actually about. That is an issue in the U.S. and one that shows a weakness in capitalism, among quite a few others.
In practice Capitalism, Socialism, and Communism all have the same major failing: They do not work when applied to extremely large populations. They also ironically have one common golden thread: They all work in smaller populations equivocally. Essentially no matter which you choose there's no point to trying to prove one better than the other on a worldwide (or even country wide given a population over 50m) scale.
Speaking of Coolidge he's saying exactly what I am referring to.
I live in Denmark, a socialistic democracy. We have free healthcare, free education, and the highest taxes in the world.
We are one of the happiest countries in the world, we are out of debt, and we have prosperous trade and military alliances with most of the world. How one of the best countries to live in, is apparently "trumped" by the ones who fares worse than us (cough america cough) , is beyond me.
Obviously not, as the entire world has adopted a hybrid of socialism and capitalism.
The right wingers like to tout the free market, but no market has ever been free.
Laissez faire economics has not been in practice for centuries, and the "capitalism" practiced in America is nothing but supply side Keynesian economic socialism mixed with imperialist hegemonic exploitation of foreign labor and production.
When Walmart's employees are actually paid by the Federal government, you know capitalism is dead.