Communism vs Capitalism

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Communism vs. Capitalism

In the political tract the Communist Manifesto, Karl Marx describes communism as the party that "fights for the interests of the working class" while capitalists are considered "dependent and have no individuality -- only capital is dependent and has individuality". Both of Marx's statements are true in nature but when the two economic systems are put in practice, they quickly disintegrate into the same end result today, that is to say that most communistic nations fail while capitalists flourish. There will never be a pure version of capitalism or communism. However, capitalism, despite its many flaws, has a proven track record; while communism has failed in practice. An argument can be made for reformation of the current system to eliminate some of its flaws, but a switch to communism would not only not solve the world's problems but most likely cause many more. True communism depends on human nature being completely altruistic. For communism to work, members of society either need to be altruistic enough to want to work for the benefit of their neighbors, or they need to be forward thinking enough to see that what benefits the whole will, in turn, benefits themselves. Members of society must be far-sighted enough to be able to comprehend large-scale social benefits, which tend to be more abstract in nature and more difficult to recognize. In contrast, capitalism allows for an individual to obtain a paycheck, buy a material good and have a tangible object that can directly relate to the individual's effort. If human nature is basically egoistic, then true communism will not work. People are inherently selfish and therefore, working for the common good will be a lesser priority as opposed to the tendency to freeload or otherwise take advantage of the system. There it becomes apparent the inherent flaw in the communist model. All communist economies eventually flounder because of lack of monetary incentives. Communists reduced...
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