Essay Assignment due Wed: In a well-written essay using and citingthe course materials summarize the films and articles theories about how the capitalist economic system works and does not work. Next,...

The capitalist and socialist economies differ based on their ideological differences regarding the interpretation of economical and human development. The capitalist economies are generally doubted to be favoring the richer sections only. However, the socialist economy system has also got certain loopholes. The socialist economy which tries to provide special privileges to the poor for free or at the cheapest rate possible, harms the countries or states production capability and even demoralizes the rich or big industrialists and other firms from utilizing their whole capability, as they continue to get drained by the government. It is obviously not possible to make every section work with dedication for generating good and effective production under socialist economy; until and unless it is a communist government ruling and they force you to deliver what they want.
To analyze the way how capitalist economic system works and does not work we first need to understand what a capitalist economic system is. Starting from the very beginning, a capitalist economic system can be defined as an economic system in which most of the things are privatized and the private individuals or businesses own the capital. To understand better the opposite of capitalism can be called socialism. Let us now begin with how the system works.
If we go through Marxists’ point of view then they believe that the way the economy is constructed, it defines the values and norms of this society. (Jones, 2014) They acknowledge capitalism as a crime and tags it as something that fuels crime as well. Capitalism is actually based on oppression and exploitation in terms of economy by the upper-class people on the working-class people. It works in such a way that it becomes difficult for you to choose...