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Capitalism:
A Superior Economic System
People generally enjoy having money in their possession because it gives them a feeling of power and freedom. Having money gives people the freedom to spend it on what they choose and the power to make more if they wish. Working in order to make money provides people with a sense of independence and pride while learning responsibility. In a world where the majority of people like possessing money and having the opportunity to obtain more of it, the majority of people should prefer having a capitalist economic system over having a socialist one. There are many arguments that support and explain why capitalist economic systems are superior to socialist economic systems.
First and foremost, a capitalist economic system motivates people by rewarding them for their skills and efforts that they put into their work (Deane). Promotions and pay raises are some examples of the rewards that people are able to receive if they put great effort into their work. However, if people exert average or small amounts of effort, chances are that the rewards that t…