Introduction
Communism can be defined as an economic system or a form of government where all
classes of people and their relations are well represented. This form of society exists
without any form of exploitation, oppression, racial discrimination or social class
inequalities. The following discussion shall focus on why capitalistic economies notably
United States should not rely financially on any communist country.
History
Communism was one of the most powerful forces to reckon especially in early 1900’s and
1990’s. An economic and political system was considered as a great threat to world peace,
prosperity and individual empowerment although at the same time it was regarded as
source of hope to the world due to its equality doctrinal principle. This concept shall be
discussed into details later in the paper.
Imperialist first war was witnessed around 1914 to 1918 between British and Germany was
attributed to capitalists’ dominance in the world economies and sought to decide which
large states had authority to strangle, rob and exploit the world economy. Treaty of
Versailles imposed regulations that reduced nation’s colonial dependence, increased levels
of poverty, starvation and led to loss of fundamental human rights. The only beneficiary
from the war was the United States whose debts were cleared therefore becoming a
universal creditor. Communism therefore seeks to get rid of all exploitations and
oppressions in the world economy for every citizen to be successful under similar
economic situations without any favors by ensuring equality and economic security. It
relies on the principle of every citizen contributing to ones ability and consuming
according to ones needs as shall be later discussed.
Karl Marx was a German social philosopher who authored various writings incorporating
theories of capitalistic inclinations. Communist’s main goal was to have a society that
provided economic security and equality. Various communist literatures favors the idea of
government ownership and control in order for economic resources, land, industries and
factories to be coordinated and enjoyed commonly by a society. John Moore discussed
problems of post communist countries, Natasa Srdoc moderated a session on
entrepreneurship while Victoria Curzon-Price discussed on ways to achieve economic
freedom.
Capitalism
Capitalism is an economic model that seeks economic control by specific interested
parties, individuals and sole-propertied businesses. All economic systems that are both
privately planned and controlled are described as capitalist entities since their main agenda
is individual wealth accumulation. In economics, capital as a factor of production is
considered as the origin of capitalism. It is characterized by individual ownership of
