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Revolution in the Arts

Bethany N. Randolph

Latin American Humanities HUM2461 Professor Caldero-Figueroa 1 March 2013

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American economist, social theorist, political philosopher, and author Thomas Sowell once said, The first lesson of economics is scarcity: there is never enough of anything to fully satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics. One analyzing the many theories of economics and the politics following it learn how correct Mr. Sowell was in making his statement. Economics is the social science that analyzes the production, distribution, and consumption of goods and services (Economics). In other words economics makes up the entire fabric of the world we have lived in for many years. Economic systems help maintain a balance in a world that demands structure in order to be affective. Ever wonder why third world countries are poor? It is due to a poor economic system. There are three major economic systems found throughout the world: Capitalist Socialist, and Communist. They have all been causes for extreme tensions between nations and caused much animosity throughout the world. These three systems although separated by extreme and

noticeable differences do have one major similarity within each system. To begin, one economic system is capitalism. In this world it is important to note that there is no such thing as pure capitalism nor will there ever be. In capitalism individual decide what [goods are produced], how [goods are produced], and for whom [goods are produced] (Snyder 5). The main goal in a capitalist system is to make a profit and end up with more money than originally invested. The idea of a capitalist economic system is not to be altruistic or have concern for the general welfare of others. This differs from the idea of socialism though. In theory, socialism triesto see that individuals get what they need (Snyder 6). Socialism is an economic system that has distribution of goods to be based on primarily a need. Socialism makes a very incorrect assumption of people and this is cause for socialisms main problem. Socialism unlike capitalist only operates efficiently if all involved are in fact altruistic and care about others. Due to this

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belief socialist nations tend to be the poorest. People are not all altruistic, people are naturally greedy. The last economic system forces people to be altruistic. In a perfect world, everyone would have food and shelter, but for most of the worlds population, thisisnt possible. Communism is one proposed solution to these problems (How). Communism believes that everyone should work hard and receive equal pay of the benefits from the hard work. German philosopher Karl Marx suggested in his Manifesto of the Communist Party that there are ten essential tenets of communism: A central banking system, government controlled education, government controlled labor, government ownership of transportation and communication vehicles, government ownership of agricultural means and factories, total abolition of private property, property rights confiscation, heavy income tax on everyone, elimination of rights inheritance, and regional planning (How). As one will notice there is no room to think freely in communism. Unfortunately communist systems do not survive because one, as humans people are given the ability of having free will and tend to rebel against being told what to do, think and feel, and two, people are once again not altruistic and do not generally care for the welfare of others. In conclusion, economic systems have helped continue to make societies thrive or fail. Although majority of the world tends to lean toward having a capitalist society in order to be successful there still exist dreamers in the world that believe having a society of socialism, or distribution of goods based on need, or a communist society, equal share of everything for

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everyone, will one day prove to be the most effective choice. One thing in this world can be certain though and that is that people will never all be altruistic.

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Works Cited "Economics For Dummies." Cheat Sheet. N.p., n.d. Web. 01 Mar. 2013. "How Communism Works." HowStuffWorks. N.p., n.d. Web. 01 Mar. 2013. Snyder, Michael. Introduction to Basic Economics. Dubuque, IA: Kendall Hunt, 2011. Print.