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Why has the capitalism/socialism debate been so divisive - Book Report/Review Example

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Following the 2008 credit crunch that remains to be seen as the world’s most destructive event in relation to economic order, the debate over the way to go between socialism and capitalism has been divisive. Capitalism is taken to have originated from the invention of international trade in which currency was used…
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Why has the capitalism/socialism debate been so divisive
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"Why has the capitalism/socialism debate been so divisive"

Download file to see previous pages This made capitalism the modern day issue it is due to its influence, where everything is dealt with based on the purchasing power that one has, and not the value of the person. As such, traditional Chinese currency, based on copper coins, can be viewed as part of the earliest currency use leading to the spread of currency use into modern times.1 With this in mind, the consequences of capitalism in ancient times can be attributed to the rise of industrialization, which is the focus, when one observes the industrial revolution in Europe. This rose due to capitalism as there was demand, and money or currency, which is important for industries to thrive.2 Comparing this to socialism, the debate takes a turn for different events in that socialism leads not to economic development and thriving of industries conducted and run by a few people. Instead, it depicts that socialism stands for everything that opposes capitalism in that a comparison of Europe and china during the time of the industrial revolution depicts a great discrepancy in that it took quite long for china to get to the level of capitalist Europe. This goes contrary to the principles of socialism, where Asian technology remained saturated in socialist Asia, but not for commercial purposes, as was the case with the industrial revolution of Europe, which was mainly commercial. Then consequences of capitalism ...Download file to see next pagesRead More
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