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Randy Bell

Professor Whitner

English 102

8 March 2020

Lagniappe; The Gift That Capitalism Offers

Everyone loves gifts. The gift that Capitalism offers is opportunity. In a capitalist society,

hard work and dedication is rewarded. I grew up in a time when Americans took pride in their

country. With that being said, I do see why children and young adults are drawn to socialism and

how it's easy to push the socialist agenda on them. They’ve grown accustomed to someone

providing and doing for them their whole life. I’ll use my daughter as an example, she is a very

driven and competitive person who doesn't settle. When the conversation of socialism versus

capitalism arises, I provide her with an example. I’ll say ok the “A” that you worked so hard to

attain with countless hours of reading, studying and sacrificing, let’s take that and average it out

so that everyone in the class now has the same grade: a “C”. This gets her attention and helps her

to understand the difference. Another example using my daughter. She is a fierce soccer player

who plays hard every time she takes the pitch. Using the same analogy of averaging wins and

losses belittles the hard work an athlete puts in practice and training to obtain a title or

championship. In a socialistic society, there would be no Valedictorian, no Super Bowl

champion, no top performers of any kind, and the list continues. There is no form of recognition,

no reason to try. In my opinion, it does and will continue to promote mediocrity. America is

known for its hard working people. It’s known for people who invent, design, dream, and

develop new technologies. If for some reason things changed, I fear what America would turn

into. Even though younger generations may strongly disagree, Capitalism is a far superior
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economic system to Socialism, since Socialism births overregulation by the government, the

elimination of competition, and the termination of societal advancement.

In a socialistic society, everything is monitored and given out by the government.

Healthcare is free or subsidized, income is distributed according to need, and the prices paid by

consumers are set by the government (Longley). Of course, with all of the regulation and free

public services, taxation on the citizens must be extremely high. This economic system has been

adopted by some countries around the world such as Cuba and North Korea. The living

conditions in these countries are far more miserable than in America. In Cuba, people wait in line

for hours to buy the most basic groceries. Some of these basics such as rice, eggs, and beans

have even started being rationed (Forbes par. 3). Almost half of North Korean citizens live in

poverty while others live in political prisons (Forbes par. 3). These situations make it easy to see

the striking similarities between socialism and communism. Socialism is simply a less extreme

version of Communism and the lines between the two can easily become blurred. On the other

hand, Capitalism is driven by private ownership in a free market. Instead of being set by the

government, the prices of goods are determined by supply and demand which pushes

entrepreneurs to sell the best product to improve our lifestyle. The healthcare debate is a big

cause of controversy in the United States. Healthcare is provided more privately in America, but

this also means there are limited taxes which are based on individual income (Longley). These

income taxes are necessary because everyone would have to pay extremely high taxes, regardless

of income if they weren’t. Despite having to pay more taxes, Americans strive to bring in a lot of

money. The system we have today is largely based on the idea of working for what you want to

have and pushing to be the best at your job.


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In a socialistic society, no one is special and everyone is treated equally. The reason

capitalism works in America is because it “allows people to succeed by meeting the needs and

wants of others” (Forbes par. 4). This is the whole premise of the idea our country was founded

upon: The American Dream. The American Dream pushes people to become what they strive to

be, as long as they have the drive and grit to attain it. Where you came from does not have to

determine your future. Socialism goes against the whole foundation of our country and why it

works. It is important to resist the upcoming socialist perspectives before America falls from its

level as a global superpower. America is so strong due to the competition that capitalism

provides. Everyone is given “participation trophies” and treated as if they are on the same level

in socialism. The truth is that people who work harder to achieve more deserve to be viewed as

superior to those who have no desire to better themselves and succeed. The drive to improve and

become better than your peers is diminished when there’s no top prize. As an example, there

would be no reason to practice for hours and perfect your craft to attain an Olympic gold medal

or reach a National Championship game. There is no incentive to play the best, score the best, or

create the best. The free market encourages growth, efficiency, and innovation, while

government owned businesses have little to no incentive at all (Longley). The elimination of

competition also leads to a downfall in societal advancement.

With no incentive to succeed, society will become stagnant and cease to grow or change.

Under socialism, the government would already be in complete control of big companies, but

there’s no way of knowing or changing what they do with the control (Ozimek par. 4). Dominant

and successful businesses such as the Apple Corporation or Amazon would not be as big or

influential without the free market system. Those companies are successful because the

consumers continue to buy their new and improved products. If competitors such as Android
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were barred from creating the same products as Apple, then Apple would have no reason to keep

improving their products. They would keep producing the same things at the same or higher

prices because they could make a lot of money selling cheap products. It is hard to imagine a

world without their present technology vastly improving our daily lives. Under socialism,

businesses such as that would be the only ones running that specific market. There would be no

small town businesses to vary the market and introduce competitors. Smaller businesses are

important because they push bigger companies to keep improving and advancing their products.

They are also highly important because they bring many jobs to towns (Ozimek par. 6). Because

of a smaller job market, it’s probable that the unemployment rate may be higher under Socialism.

All things that persuade people to grow, change, and become better are destroyed by the socialist

ideals.

In conclusion, without capitalism, America would be completely different than it is

today. It would not be as powerful and especially not as innovative. The amount of present

government regulation allows for the economic market to lead to its own regulation. More

regulation means higher taxes, less freedom, and less competition. Competition allows for the

free market system to work, so it would all be different under socialism. Being pushed by the

free market system has drastically improved our goods and our lifestyle. Once seeing what

capitalism has to offer in the way of advancement, it does not make sense to regress. As

appealing as it may sound to younger generations, Socialism is an extremely inferior economic

system to Capitalism because of overregulation by the government, competition being

eliminated, and the termination of social advancement.


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Works Cited

Forbes, Steve. “Capitalism vs. Socialism. And the Winner Is ...” Fox Business, Fox Business, 17

May 2019, www.foxbusiness.com/economy/capitalism-socialism-steve-forbes.

Longley, Robert. “Socialism vs. Capitalism: What Is the Difference?” ThoughtCo, ThoughtCo,

30 Aug. 2019, www.thoughtco.com/socialism-vs-capitalism-4768969.

Ozimek, Adam. “Socialism Is Bad.” Forbes, Forbes Magazine, 9 Aug. 2017,

www.forbes.com/sites/modeledbehavior/2017/02/12/socialism-is-bad/#26a6447f3d79.