The Dichotomy Between Capitalism And Communism Essay

Economies throughout the world differ along varying lines, with some taking worker oriented approaches, and others pushing profit and risk into priority. The dichotomy between Capitalism and Communism throughout the 20th century can lead one to feel that capitalist nations are a unified front in how they approach economics. This is untrue, as even capitalist nations view the free market in different forms. Some may view government involvement as a necessity, others as a plague. American economics have long been dominated by this latter approach, a liberal market approach. While coordinated economies have gained strides in approval and productivity in recent years, individuals have claimed the US needs to follow the example. However, as the US most likely will retain its liberal approach for the time being, one must look at specifics to begin working on to better both the economy and its people. Therefore, industrial relations, that is, the relation between workers and their respectiv e companies, comes as the issue that can best be developed to assist the United States economic status and conditions of its workers. While the American economy stands out as the most developed and rich in the world, the workers and those contributing to this success often do not see the success firsthand. Relationships between highly profitable industries and their workers remain a contested issue, with large corporations such as Wal-Mart being regularly targeted over unfair wage practicesShow MoreRelatedThe Industrial Revolution705 Words   |  3 Pagesthat led to Karl Marx’s idea of communism as a massive grass roots reaction to the revolution’s social abuses. Firstly, the Industrial Revolution featured the construction of machines, systems and factories that allowed goods to be manufactured at a faster rate with a lower cost. 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