1. Capitalism makes for more innovations.

Because companies want to be on top,

they have to work hard to produce new items to be on top of the market. This type
of creation leads to new innovations because firms and companies want to be the
inventor of the newest good. In this way, capitalism is superior to socialism
because with innovation comes higher quality goods, and in turn a higher quality
life. [competition breeds innovation}- Jack, Nicole, Jacob
2. Capitalism allows the economy to grow at an exponential rate. This leads to there
being more wealth for businesses and countries. Also, if individuals are able to
have the profession they desire, they will want to make as much money as they
can. Capitalism is superior to socialism because it is more efficient and provides
for the most economic freedom. Products and wealth are able to be redistributed to
new areas more efficiently, and capitalist nations are enabled to have a large
bureaucracy due to more economic and political freedom, which enables less set
prices and new methods of production. -Mackenzie, Parker, Marilyn

3. Karl Marx said “From each according to his ability, to each according to his
needs”. Human nature and the majority of the world cares about what they will
have for dinner not what someone else is having for dinner. Capitalism allows
people to work for themselves while socialism makes them work for the whole
economy. People work harder under capitalism because it will bring them more
wealth. -Carson, Edgar, Adam
4. (School Example) (Hard working) - Nick, David Seth

Argument 1
 Capitalism is the perfect idea of the free market. It benefits the people in a capitalist
society by appealing to their needs. This means companies use the needs of the people to
create products that specifically benefit the needs. The companies target the people for their
products that they are trying to sell to. This is because the people are looking for the product
that companies are trying to sell which overall benefits both the consumer and company. The
consumer benefits from the product while the company benefits from the consumer buying the
product. The product is based upon the consumer altogether which is how companies target the
consumers of their product. In Capitalism the people are the deciding factor of the flow of the
market making it as successful today. -Jacob
Nicole-
● Capitalism makes for higher quality goods as companies strive to be on top. This
competition does not happen under socialism because there is no incentive to improve on
existing products.
● Companies want to make more money, which makes these companies work harder,
which in turn provides higher quality goods.
● The history behind capitalism comes from Adam Smith’s “Wealth of Nations” he was a
strong believer in free market economics and a strong division of labor. We know that
this division of labor helps creative individuals with technical expertise for producing
goods, leading to better quality goods.
Works Cited
Johnson, Justin. “The Advantages of Capitalism in Business.” Small Business -
Chron.com, Chron.com, 21 Nov. 2017, smallbusiness.chron.com/advantages-capitalism-
business-21121.html.
Pettinger, Tejvan. “Pros and Cons of Capitalism.” Economics Help,
www.economicshelp.org/blog/5002/economics/pros-and-cons-of-capitalism/.
Vitez, Osmond. “What Does Capitalism Mean in Business?” Small Business -
Chron.com, Chron.com, 21 Nov. 2017, smallbusiness.chron.com/capitalism-mean-
business-3895.html.

Competition breeds excellence

Humans need motivation to do every basic task if the incentive for socialism isn't
to prosper and excel and receive more money they need another motivation to work.
However unlike communism in socialists countries there is no punishment for not
fulfilling your role. Due to this people can get by and receive the same benefits from
someone who works 40 + hrs a week. In an ideal socialist nation everyone would do this
simply for the betterment of society but this goes strictly against human nature of which
is to take care of one's own needs and desires. In a socialist society when no there is no
personal gain from working hard and improving upon what already exist the individual
has no reason or incentive to do so.
 - Jack

Argument 2
Capitalism allows for people to freely engage in trade, allows people to have private ownership, and leads
to the growth of competition.
● Capitalism allows for people to freely engage in trade, allows people to have private ownership,
and leads to the growth of competition promoting innovation and individualism
● Increased distribution of resources-
● Private property- own property without government intervention
● Known to relate to innovations and technological advances
Link 1
https://www.economicshelp.org/blog/5002/economics/pros-and-cons-of-capitalism/
This link discusses how capitalism results in a larger bureaucracy. This sprouts from economic and
political freedom and results in less set prices and a wider spread bureaucracy that has more access to
other countries.
Also talks about how the incentive to work and increases competition leads to economic expansion and
growth
● Increases GDP
● Improved living standards
● “Trickle down effect”- the increase wealth will affect both the poor and rich
Link 2
http://www.asepp.com/capitalism-economic-growth/
This link shows a graph that has socialist governments and capitalistic governments. There is a collection
of government that mostly show more economic benefits in capitalist countries, except for China which is
an outlier in the data. The Data shows that Capitalist governments have been able to overcome obstacles
and continue to be successful and grow economically, however socialist countries have crumbled or
regressed economically.
Link 3
https://www.economicshelp.org/blog/1259/economics/advantages-of-capitalism/
This link discusses the distribution of resources in a capitalistic government. The capitalist countries are
able to more easily distribute to other countries. This is because the market/trade is controlled by private
companies and they control what items are distributed. Countries don't want goods that they don't need,
and the companies will not benefit from exporting the same goods for the same price everywhere.
Also talks about how companies that do not have enough profit will go out of business,which promotes
competition.
Also, capitalism allows for companies to change prices. This allows for the prices to change as the
economy changes, and the want for specific goods increases or decreases. This leads to a more successful
economic system within capitalistic economies.
-Mackenzie
 ● http://www.independent.org/issues/article.asp?id=2769
○ “Unless one is ashamed of unprecedented increases in income, rising life
expectancy, greater education, and more political freedom, there is no reason to
be a fair-weather fan of capitalism. Sprawling free markets in countries that
became more capitalist over the last 25 years have meant many more people enjoy
improvements in well being and opportunities to advance human capabilities.”
○ Capitalism promotes an increase in the quality of life in a country which
experiences the great economic growth that capitalism can provide and can help a
country to improve their economy and life as a whole.
● https://www.ourcivilisation.com/cooray/westdem/chap5.htm
○ “What economic freedom provides in the context of the rule of law is opportunity
for innovation, initiative, risk taking, entrepreneurship and competition which
cumulatively lead to progress and development, which substantially outweigh the
costs.”
○ The freedoms that capitalism allow for help to promote individuals to seek out
personal gain, which in turn helps to expand the economy as a whole, and also
helps to allow the individuals to hold and express different ideas as the
government who controls their economy and livelihood.
● https://www.heritage.org/international-economies/report/how-economic-freedom-
promotes-better-health-care-education-and
○ “The embrace of capitalism and the defeat of serfdom in pre-industrial Europe led
to the most dramatic increases in wealth in the history of the world. The industrial
revolution—based on foundations of individual freedom, private property, limited
government, and limited regulation—improved the lives of millions of people in
the Western world.”
○ Capitalism has helped to improve the lives of those who participate in a free-
market economy throughout history, and has allowed these people and countries
to experience unprecedented economic growth which had been impossible under
their previous economic systems and would be impossible within socialism.
-Parker

Argument 3 Adam,Carson,Edgar
Human nature and the majority of the world cares about what they need and want not
what someone else needs and wants. Capitalism allows people to work for themselves
while socialism makes them work for the whole economy. People work harder under
capitalism because they have more motivation for wealth. (Think gold medals vs
participation trophies) - Carson
 ● If you make $34,000 a year after taxes, you are part of the worldwide 1% and Americans
make up half of this percent on the planet and this is due to capitalism. Due to
capitalism, Americans can see that their hard work and motivation pays off, many people
go to America to shape their destiny.
● In the capitalist society there prevails a tendency toward a steady increase in the
per capita quota of capital invested. In a capitalist society, there tends to be more
money distributed and invested with makes America stronger and wealthier.
● Consequently the marginal productivity of labor, wage rates, and the wage
earners' standard of living tend to rise continually. As productivity and pay
increase, so does quality of life because people work harder to reach these
goals. - Edgar
● Capitalism works with human nature, as most humans think about what they are
going to eat for dinner not what someone else is going to eat for dinner.
Capitalism allows you to work for what you want and need. If you work hard, you
will reap the benefits and if you don’t work hard it will show.- Carson
● Within the frame of capitalism the notion of poverty refers only to those people
who are unable to take care of themselves. Even if we disregard the case of
children, we must realize that there will always be such unemployables. There
will always be people that will not give the effort, we shall not compensate for
those people.

Works Cited

1. https://townhall.com/columnists/johnhawkins/2012/03/20/5-reasons-socialism-is-inferior-
to-capitalism-n932158
2. http://blog.peerform.com/top-ten-most-socialist-countries-in-the-world/
3. http://blog.peerform.com/the-five-most-capitalistic-countries-in-the-world/
4. https://www.thebalancesmb.com/the-characteristics-of-capitalism-and-socialism-393509
 Counter

People could argue that socialism is better by saying that everyone gets equal amount earning for
everything.If a professor told his class that socialism was better than capitalism and applied it to
the class’s grading system, then the students who tried would get the same grade as the average
grade of the class and those who didn't try would get the grade average something they didn't
earn. Apply this to the economic system of a county, the people who didn't care would feed off
the success of others and get paid the same amount and gained money they didn't earn, the
people who did better would not be rewarded for their hard work and effort but rewarded the
same as the other workers who didn't care. With capitalism the hard worker is rewarded more for
their efforts and thus creating a successful economic system that created an initiative to work
hard and create new things, creating new jobs for more people to have work.
-Seth

An economics professor at Texas Tech said he had never failed a single student before but had,
once, failed an entire class. The class had insisted that socialism worked and that no one would
be poor and no one would be rich, a great equalizer. The professor then said ok, we will have an
experiment in this class on socialism. All grades would be averaged and everyone would receive
the same grade so no one would fail and no one would receive an A.

After the first test the grades were averaged and everyone got a B. The students who studied hard
were upset and the students who studied little were happy. But, as the second test rolled around,
the students who studied little had studied even less and the ones who studied hard decided they
wanted a free ride too; so they studied little …

The second Test average was a D! No one was happy. When the 3rd test rolled around the
average was an F. The scores never increased as bickering, blame, name calling all resulted in
hard feelings and no one would study for anyone else. All failed to their great surprise and the
professor told them that socialism would ultimately fail because the harder to succeed the greater
the reward but when a government takes all the reward away; no one will try or succeed.
-Nick

Capitalism is defined by merriam webster as an economic and political system in which a

country's trade and industry are controlled by private owners for profit, rather than by the state.

Socialism is defined by merriam webster as a political and economic theory of social

organization that advocates that the means of production, distribution, and exchange should be
owned or regulated by the community as a whole and wealth should be introduced and
redistributed by the economy.

Talk about amendments…