What are the major differences between capitalism, communism, and Essay

What are the major differences between capitalism, communism, and socialism - Essay Example It is evidently clear from the discussion that capitalism is a system of private enterprise in which the main economic decisions, such as what, how, how much, where, to whom and for what price several items are to be produced, are made by private individuals in their capacity as owners, workers or consumers. Capitalism is referred as free enterprise system as the basic economic decisions are not left to individuals but rather these decisions are also made in response to market forces such as demand and supply. According to the concepts of capitalism, people are free to accept the law of supply and demand. Communism is, according to its founder Karl Marx, an economic system that promotes the idea that the society must control the production or goods and services. Capitalism was much concerned about acquisition of wealth where as communism focused on serving others with concerns on poor and underprivileged arguing that there were major disparities between classes. Socialism is an econo mic system that seeks to manage the economy through collective social control, but communism is an economic system that seeks to manage the economy as well as society. McConnell and Brue noted that capitalism is a system in which each participant acts and performs business and non-business activities in his own self interest. Each individual is looking for maximizing his satisfaction or profits through own decisions regarding production and consumption. They pointed out that socialism and communism can be considered as command system as an alternative to market system. In both communism and socialism, government owns most of the property resources. The economic decision making in these systems occurs through a central economic plan Socialism and communism are similar in that both these dogmas are systems of production for use based on public ownership of the centralized planning. Communism is a further development or higher stage of socialism (Williamson, 2011, p. 47). 2. Discuss th e three major economic indicators and how they are indicative of our current economic climate. The major three economic indicators are 1) Gross domestic product, 2) Consumer price Index, 3) Employment. The most important economic indicator is GDP- Gross Domestic Product- which represents the total market value of all final goods and services that are produced in a specific period of time. GDP includes all goods and services produced by citizen-supplied or foreign-supplied resources employed inside the country (McConnell and Brue, 2004, p. 113). Consumer Price Index is used as main measure of inflation in the United States as compiled by the Bureau of Labor Statistics. Consumer Price Index is considered as the base to report inflation rate each month and each year and also for adjusting social security benefits as well as income tax brackets for inflation (McConnell and Brue, 2004, p. 141). Another important economic indicator is Employment Statistics which provides a comprehensive d ata on national employment situations, unemployment rate, wage and earning data etc. Normally, information is disseminated from different ways such as agricultural, industrial, employment or unemployment among men, women or other classes etc. All these major economic indicators are clearly indicative of our current economic situations. For instance, the latest statistics show that there has been an expansion of 2.8 percent in the gross domestic product figure in the fourth quarter of 2011 over the previous quarter (tradingeconomics.com, 2012). Another example is that the unemployment rate in the United States has been decreased to 8.3 percent in January of 2012, showing a lowest rate from February of 2009 (tradingeconomics.com, 2012). 3. In considering to enter the global market, identify the major strategies an entrepreneur may

King Lear by Shakespeare Essay Example | Topics and Well Written Essays - 1250 words

King Lear by Shakespeare - Essay Example Thesis Art helps the main characters to find the truth, understanding the meaning of friendship and love, and resist chaos and evil. In King Lear, the concept of art is based on binary opposition; good - evil, life - death, chaos - order. Using his techniques, Shakespeare 'teaches' the audience about good and bad, virtues and sins, social and immoral behavior. For instance, actions of Duke of Cornwall and Regandepict low morals of people who act in their own interests only forgetting about human virtues and goodness. Regansarcastically comments: "Which the most precious square of sense possesses, / And find I am alone felicitate / In your dear Highness' love" (Shakespeare 1999). Using binary opposition of good and evil, Shakespeare unveils consequences of selfishness and egoism, aggressiveness and low personal values of people. In opposition to Regan and Goneril, Shakespeare creates a character of Cordelia a loving and sympathetic daughter. The nonsensical action caused sufferings for many innocent people because of dishonor, falsehood, low moral values 'preached' by the society. Evil and sins ruin happiness and art seeing as a constructive force of happiness and love. In contras to her sisters Cordelia truly loves her father and cares about him: "O dear father, / It is thy business that I go about" (Shakespeare 1999). Without this opposition, the audience would be unable to see the differences and contrasts between good and evil nature. Following Eldridge (2003): "conceptual art are "at the service of the mind" in that they are intended to set up in an audience a line of thinking about a subject matter. Most literary works clearly undertake to describe an action, situation, or event" (25). These contrasts and oppositions help Shakespeare to create a story conflict and draw attention to contrasting elements and personal traits. For instance, Earl of Gloucester is a foil of King Lear who commits the same faults as Lear. For while deploying descriptive detail in the conventional realistic way to build up a rich and convincing impression of Earl of Gloucester and the world he creates, Shakespe are uses realism. In contrast to King Lear, Gloucester is not so powerful and stubborn. Gloucester says: "I desir'd their leave that I might pity him, they took from / me the use of mine own house, charg'd me on pain of perpetual/ displeasure neither to speak of him, entreat for him, nor sny / way sustain him" (Shakespeare 1999). Shakespeare compares and contrasts both rulers who suffer the burdens of rule. It is important to note that identifying something as art, then, is indispensable to artistic practices. That something is art signals how and even whether readers are to respond to it interpretively, aesthetically, and appreciatively. King Lear demonstrates that art is an important part of life because it leads to self-knowledge and self-development. What is particularly interesting in the plot of King Lear is its exceptionally broad psychological and sociological scope, involving characters from practically all bands of the dynamic spectrum and social classes. Eldridge (2003) comments: "A work