The economic practice "Capitalism" was derived from a word called "mercantilism" originated in Rome, the Middle East, and early middle ages.
Mercantilism simply means a distribution of goods in order to realize a profit.
Goods are moved from one site as a dollar amount and then moved to another to sell at a higher price.
As time went on in Europe the name "Capitalism" replaced "mercantilism".
The capitalistic nature is simply having productive labor necessary to produce and distribute the goods for a wage.
What is nice about this structure is that we have the economic freedom to decide where we will work and what we will do.
This gives individuals the right to earn lots of money if they choose and dream and own whatever they can imagine.
Socialism is a system that advocates the vesting of the ownership and control of the means of production and distribution of capital, land, etc.
in the community as a whole.
So instead of the individual having their rights of complete ownership of businesses and properties the government and state have their hand in it.
This means that they will distribute evenly within a society rather than the ones that work the hardest for the capital.
In 1949 Albert Einstein penciled the need for socialist economy to eliminate the evils of unemployment, competitive economy, and the educational system.
New Harmony was a community that helped with free libraries and public schools.
There are some very positive sides to a socialistic approach to help others who need help.
President Obama has great ideas for healthcare across the board and helping the average business person get started.
While the taxes are still in line with Social Security, Medicare, and state programs we continue to keep plugging away.
I believe giving a piece of the pie is better than having it all because we never know in life whether our life could take a turn and we may need government help.
In conclusion, Sweden may have something on us as they do have a blend of both Capitalism and Socialism and their country works, not perfectly but it works.
Although we need to keep our American rights as citizens and not let this socialistic mind set prevent ourselves from working hard and fulfilling our dreams.
We are in such a good Country and have a lot to be grateful for with our "free enterprise" and ability to create and design businesses of our choice.
We have so much here and many resources and sometimes it just takes some time! When I am rich and if my taxes help another that is fine.
We just need to balance out and be aware of what is going on here.
In my opinion we have the best President yet and I look forward to his changes that incorporate the threads of mild socialism to get this economy moving again.
Copyright (c) 2009 Laurie Noepel