Economic systems meet the needs of their people by determining what to produce, how to produce it, and who will buy it. Capitalism gives the people the freedom to make their own choices in what to do produce and so forth. On the other hand, a communist economy guarantees certain necessities for the people, such as jobs, food, clothing, and shelter, but the people have little/no choice in what kind. Though these two economic systems are run differently, the government in each will step to fill in the missing pieces of the people’s needs if absolutely necessary.
In a communist economy, the whole market is controlled by the government in order to meet the people’s needs. Generally, the government decides what to produce, and try to produce only what and how much the people need. With the government in control, everyone is guaranteed the necessities for survival, such as employment, good education, and free healthcare (Doc B). This ensuring aspect gets rid of the worries of the people, such as being unemployed and not having social security (Doc F).
Not one person has something more or better than another, so it creates true equality among the people. If one person receives up to a 5th grade education, so will everyone else. Communism “strips [the people] of their natural character” and eliminates the concepts of jealousy and competition (Doc E). This government-controlled market also means that the government can decide how much of each necessity the people are allowed to receive.
Realistically, the government does not provide enough of anything for their people and use their hungry and uneducated population to their advantage. In North Korea, most families work on collective farms, but the profit that they produce all goes to the government. If they are lucky, they will get a very small return for their work (Doc C). Also, since everyone is required to live similar life styles, if not exact, there is no individuality, no bravery, and no creativity to help the economy move forward and strive. On the other hand, a capitalist economy tends to be freer.
Economies with little government interference allow the people to gain human capital from competing against each other in the market, which allows the market to strive forward towards improvement (Doc A). In a communist economy, the government controls the everyday lives of their people, which makes the people lazy and irresponsible since the government does runs every aspect of everything. The people living in a capitalist economy are given the freedom to make their own choices, from how much education to receive to obtaining the desired occupation and life. Every individual is continually exerting himself to find the most advantageous employment for whatever capital can command” (Doc D). Though the government seems unwilling to provide everything for their people, there are some cases where the government will provide for the people if necessary. For example, in the US, the government will provide free medical care or food stamps and such for people who don’t meet certain requirements to sufficiently support themselves and/or their family members.
In conclusion, capitalism and communism both meet the needs of the people, neither being better than the other. Depending on the view, one might say communism is better because everything is provided to the people and there is no need to worry about not being able to receive certain necessities, even though there is little/no choice or freedom. Another might say capitalism is better due to the fact that the people have the freedom to make certain choices, though the government will not guarantee food at every meal or jobs in every recession to come.