Discuss the benefits and problems of capitalism and
socialism, and evaluate which system provides the
greater overall benefit to society.
write a clear claim that responds to the prompt.

Capitalism provides more benefit to society because it gives people more choice, allows people to create more wealth, and ensures that what society needs is produced.

Economies can be classified on basis of policies and regulations. The major difference between capitalism and socialism is the role of government ion regulating the economy.

Capitalism is characterised by economic growth and economic freedom, it functions on laissez-faire principle and in free market economies there is no government interference in the  economy. While socialism depends on the control of the economy by the state. A central planning authority plans it to provide social welfare. The country/ economy having qualities of both Capitalism and Socialism is better than purely socialist and purely capitalist one.  

Monopoly of power, Inequality, Recession and unemployment are some disadvantages of Capitalism while  lack of  motivation, less entrepreneurial opportunity and competition are disadvantage of Socialist economy.

imperialism and colonization in 1936

part of the politics series

basic forms of government

power structure

separation

associated state dominion chiefdom

federalism

federation confederation devolution

integration

empire hegemony unitary state

administrative division

power source

democracy

power of many

direct representative liberal social demarchy others

oligarchy

power of few

anocracy aristocracy plutocracy kakistocracy kraterocracy stratocracy timocracy meritocracy technocracy geniocracy noocracy kritarchy particracy ergatocracy netocracy

autocracy

power of one

despotism dictatorship military dictatorship

others

anarchy theocracy

power ideology

monarchy vs. republic

socio-political ideologies

absolute legalist

constitutional

parliamentary directorial semi-presidential presidential

authoritarian vs. libertarian

socio-economic ideologies

tribalism despotism feudalism colonialism distributism anarchism socialism communism totalitarianism

global vs. local

geo-cultural ideologies

commune city-state national government intergovernmental organisation world government

politics portal

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an empire is a sovereign state functioning as an aggregate of nations or people that are ruled over by an emperor or another kind of monarch. the territory and population of an empire is commonly of greater extent than the one of a kingdom.[1]

an empire can be made solely of contiguous territories, such as the austro-hungarian empire or the russian empire, or of territories far remote from the homeland, such as a colonial empire. aside from the more formal usage, the word empire can also refer colloquially to a large-scale business enterprise (e.g. a transnational corporation), a political organisation controlled by a single individual (a political boss), or a group (political bosses).[2] the word empire is associated with such other words as imperialism, colonialism, and globalization. empire is often used to describe a displeasure to overpowering situations.[3]

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