Capitalism and Socialism

                Martin Luther King Jr. stated in a letter to Coretta Scott, "I imagine you already know that I am much more socialistic in my economic theory than capitalistic. And yet I am not so opposed to capitalism that I have failed to see its relative merits. It started out with a noble and high motive, viz., to block the trade monopolies of nobles, but like most human systems it fell victim to the very thing it was revolting against. So today capitalism has out-lived its usefulness. It has brought about a system that takes necessities from the masses to give luxuries to the classes."

                Capitalism is defined as an economic and political system in which a country’s trade and industry are controlled by private owners or corporates for profit, rather than being controlled by the state. Capitalism first began to emerge during the 17^th century. When it emerged, the concept of a waged worker was a crucial part in the development of capitalism. The earliest capitalism brought new ways of production that was directed by the capitalist. The new capitalism ways had the capitalists exerting power over the new class, which included the waged workers.

I think that capitalism can be beneficial but yet have negative effects as well. I think it is right for people to be able to create and run their own business if they choose to do so. By making a decision to start their own business, they are putting a big chunk of their money forward just to start the business. If their business doesn’t succeed, they may be left with little to nothing. However, on the other side of things, capitalism can bring negative effects to our society if one business takes away from many others. One business should not have so much power to overrun all other businesses of the same area.

Socialism is a political and economic theory of social organization that states that the means of production, distribution, and exchange should be owned or regulated by a community as a whole.  The idea of socialism came from that of capitalism. People believed that workers’ conditions would be better if the control of production was moved from capitalists to the state. I believe that socialism has its pros and cons as well. The positive side of it would be that conditions for workers were improved as well as the fact that one person cannot completely overtake a large business. Overall, socialism is better for the people at large. However, people should have a certain degree of freedom to create their own business if they want without it being government controlled.

I think that to a certain point, capitalism has “outlived its usefulness.” I believe so because it takes away from a large number of people just to benefit a few others. I think that a government run business is all around better for the people. If capitalism continues, they negative effects may show more and more with time. I believe that socialism is the best theory for our economic and political systems.

 

John Adam's Quote on Democracy

                John Adam’s famous quote saying, “Democracy ... while it lasts, is more bloody than either aristocracy or monarchy. Remember, democracy never lasts long. It soon wastes, exhausts and murders itself. There was never a democracy that did not commit suicide.” was a very true statement. I believe the quote made by John Adams was a very descriptive and specific way to describe democracy. As the people of the United States, we are lucky that our democracy still exists today. If the democracy continues on for many more years in our country, which at this point it appears it will, I think that it will become bloodier than an aristocracy or monarchy would normally be.

            Democracy has been our country’s form of government for many years, and has both benefited and harmed us. Obviously it benefits us majorly because people have the power and get to make decisions. Personally, I think that democracy is the best form of government a country can have. However, a democracy also has negative effects. Democracy can cause a lot of arguments and disagreements because people have different viewpoints on subjects, and in a democracy people have the right to state their beliefs. If people can’t compromise, arguments can go back and forth for long periods of time, and sometimes get out of hand. If this occurs for too long, it makes it more likely for a democracy to break down and eventually “commit suicide” according to John Adams.

On the other hand, if you have a monarchy or aristocracy, the people don’t get to make the decisions and must accept the decisions that are instead made by powerful leaders. In these government systems, people may be unhappy, but they can’t argue with each other about what should or should not be done because that decision is made by one powerful ruler. I don’t think that monarchies and aristocracies are a better form of government, but I do think that they are more likely to last longer and be less bloody than a democracy is.

I believe that John Adam’s quote was a very interesting way to explain democracies. Although a democracy does benefit us in many ways, it brings negative effects with it. I believe that Adams is right when he said that democracies are bloody. However, our democracy hasn’t broken down yet, and I think it will continue to run for many years to come. As it continues, it may become bloodier than it currently is.

Bicameral Legislature

Constitution immediately established bicameralism in the legislative branch because it was something that was familiar to most Americans, two bodies would be able to settle the conflict between the Virginia and New Jersey Plans, and because one house might act as a check on the other. All of these reasons led to the establishment of bicameralism in the legislative branch. Due to this being established, each of the states is represented equally in the Senate and also represented according to its population, therefore benefiting states of all population sizes.

                I think that this establishment has played a big part in shaping politics today. The bicameral legislature has limited the power of Congress and prevented Congress from holding power over the other two branches of the government. The bicameral legislative branch has been very good for people of smaller populated states because they receive equal representation, and also benefits largely populated states by giving them more house members. I think that the two body system has greatly benefited our country and was a great establishment.