Capitalism vs Communism
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Capitalism vs. Communism
Karl Marx is said to be the father of communism and many respect his views. In his book: Wage-Labour and Capital; Value, Price and Profit, Karl Marx set out his famous proclamation "From each according to his abilities, to each according to his needs." Marx was saying workers should be paid the same, regardless of their hard work or productivity. Flat wages, administered by a centrally controlled economy, were tried in the Soviet Union, China, and Cuba. Farmhands, blacksmiths, and university professors, all were to be paid the same. And everywhere, the result was economic and social disaster. He gives very convincing arguments for the reasons why the theory of communism would work over capitalism. But the argument that must be brought up is would communism really help a country that wants to climb the ladder of success?
Marx talks early in his book about how capitalists buy their labour and workers sell their labour to the capitalist...