The author of the textbook indicates that capitalism and socialism represent two

Question

The author of the textbook indicates that capitalism and socialism represent two ends of a continuum in which all real-world economies can be located. Also, most experts agree that capitalism is more productive and socialism generates more social equality. Describe what you think would be the best combined features of the economic systems of capitalism and socialism while minimizing the disadvantages of each. Explain your answer.

The Information Age has increased the use of computers and other new information technology. Discuss how computers are changing the workplace and how new technology both serves and harms workers. Support your position with evidence or examples.

Explanation / Answer

Capitalism is the economic system based on private or corporate ownership of, production and distribution of goods.

Socialism is an economic theory or idea that states that the government or the state should be in charge of economic planning, production and distribution of goods. This contrasts with capitalism where free markets predonimate and property is privately owned. Socielism tends to favor cooperation whereas capitalism is characterized by competition.

     The best combined features of the economic systems of capitalism and socialism would be the co-existence of both the economic systems with socialism controlling the capitalism. By this way, there would be competition to provide best goods and services while the public well being is reenforced by socialism.

       A couple of decades ago, workplaces seemed to be messy with a great deal of incoming documents, outbox letters and on going project details' documents. Also, there was no back up of data in case something goes wrong and all the data is lost.

       But as the computers were introduced into workplaces in modern era, these problems have been eliminated. We have got the email system which is most widely used communication system after telephone. I removed the need for mainitaining everything manually by reducing a lot of effort and saving time and money. There has been a lot of automation and the tasks have been getting completed a lot faster compared to olden days.

      Coming to the harm caused by computers, the first thing to discuss should be the effect on employment. Since the computers and automated machinery are used for doing many tasks which requied a lot of man power, there has been a decrease in the number of positions for men. Also the use of computers is known to be the cause for many abnormalities like sightedness, obesity, etc.

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