Competition in capitalism ensures the survival of entities because each firm strives to offer the best products to the consumer. However, in socialism the workers have to be motivated in order to reduce chances of redundancy, which causes collapsing of firms.
Socialism requires sound economic planning if the companies are to stay in the market for long and continue to serve the public (Fuentes, 2010). In cases where companies close, it is advisable to nationalize them instead of depending on aids from the government to keep them afloat. This ensures that the government has total control on entities that are mismanaged.
Thank you for visiting Essaydemon.com and viewing our articles and sample papers. Kindly be informed that all these articles and sample papers are for marketing purposes only. The sole purpose of these articles and sample papers is just to provide our customers with an idea about our services before they place an order.
Kindly visit our order/inquiry page for further assistance.
Kindly order custom made Essays, Term Papers, Research Papers, Thesis, Dissertation, Assignment, Book Reports, Reviews, Presentations, Projects, Case Studies, Coursework, Homework, Creative Writing, Critical Thinking, on the topic by clicking on the order page.