Well, I think neither of capitalism or socialism can be ultimate solution to poverty.. Firstly, we need to expel the fact that poverty can be eradicated.. I guess poverty can never be removed..
People say that Capitalism emphasis on superiority, and thus creates inequality in the society.. True but then it is also inspires one to improve..
Which are today's greatest nations? US, China, France, England, Rome, Greece, and the list goes on and on.. And then these are not only the greatest nations, but they also have the wealthiest population also.. Is there anything common to them? Simply, Capitalism !!
Yes, you are right. One of the main reason the communist countries (Republic of China & Soviet Russia, etc) changed to capitalism was because of the lack of incentive to progress and develop the country!
This is very easy to understand. Imagine you are a hard worker and you are getting paid the same as your co-worker who is very lazy. Pretty soon, you will lose the motivation to work hard also since your hard work is not being rewarded.
But the problem now is, are hard workers being rewarded enough in a capitalistic system? Because time and again we have seen employers who keep making bigger profits because of their employee's hard work but do not attempt to raise their employee's salaries.
Do you think the wealth in a company should be more evenly divided?
