The Pros of Capitalism 1. You are free to make your own choices (right or wrong) in the market place.

2. You own your life and the means to produce for your life. 3. You can choose to run your own business or get a job with ease of government regulation. 4. As a consumer, you get the highest quality of products for the cheapest prices. 5. As a consumer, you get the highest variety of the types of goods and services you can purchase. 6. You are free to innovate and invent without the government getting in your way. 7. You don't have to pay taxes beyond that of the basics to protect your rights (police, courts, national defense, etc). 8. You vote with your dollars. If you don't like a particular store, you can always shop somewhere else. 9. You have the right to own property, which comes with the right to develop it as you choose. 10. You have the right to earn as much money as you want without having to answer to the government. 11. Capitalism has given the highest standards of living this earth has ever seen and no other system has ever been able to do this 12. Capitalism recognizes your right to pursuit of life, liberty and property. The Cons of Capitalism 1. Capitalist economies are money-driven without much regard for people unless they are owners or shareholders of business firms. 2. In a capitalist economy, there is fierce competition and, perhaps, unfair competition. 3. Capitalism requires continual growth, environmental damage may occur as the resources of the earth are depleted. 4. Capitalism makes the rich richer. 5. Socialism is economically inefficient as it does not reward entrepreneurs. 6. Socialism can actually lower the living standards of all by not rewarding work and by making public assistance available to more than the neediest. 7. Poor environmental controls The Pros of socialism 1. In environments with plentiful resources, socialism provides all members with their survival needs, creating a stable social environment. 2. Members that cannot participate economically - due to disabilities, age, or periods of poor health - can still impart wisdom, emotional support and continuity of experience to the system. 3. Social Welfare Motive 4. Limited Right to Private Property 5. Central Planning 6. Absence of Monopoly 7. Basic needs are met 8. No extreme inequality

The Cons of socialism 1. Since there is no culling and no economic advantage to working harder, socialistic systems provide no inherent incentive to participate. This makes socialism internally unstable. 2. Due to a lack of incentives, socialistic systems tend not to be competitive, making them externally unstable. 3. In times of plenty, immigrants are drawn to the free resources offered by socialistic systems, while potentially adding nothing economically productive. 4. In times of scarcity, resentment of non-economically-productive members of society increases, causing a destabilizing effect on the society and economy. 5. Bureaucratic Expansion 6. No Freedom of occupation. 7. Absence of Technology 8. Absence of competition The Pros of mixed economy 1. People can make their own decisions 2. The government has limited control which is good for structure 3. Provides freedoms such as: 4. Enterprise/Business ownership, Social Welfare, Profit Earnings, Political Freedom 5. All national resources are utilized under mixed economy. 6. Mixed Economies have active government support and direction. The Cons of mixed economy 1. Its efficiency property reduces in progressively higher degree, the more its mixed nature embraces more and more of government / state intervention and State planning and reduces the reliance on competitive market economy management mechanisms. 2. Mixed economy system has a natural tendency to move further and further away from reliance on competitive market mechanism to greater and greater bureaucratic controls and interventions until the system efficiency goes down to zero and the system breaks down or dictatorships get fairly established to hide inefficiencies and remove all economic and political freedom from the citizens. 3. Mixed economy systems tend to encourage more state monopolies, higher and higher tax to GDP ratio and dominant public finances, making the Govt. the overwhelmingly large economic player as compared to corporate or individual entities. 4. Mixed economic systems often turn into closed economies hindering international trade and globalization and depriving citizens from he benefits of an interdependent world economies. 5. Mixed economic systems incentivize corruption and political-bureaucracy-capitalist nexus enjoying at the cost of the citizens. 6. Mixed economic systems delivers neither efficiency goals achievable through competitive market system nor do they bring about fast reduction in poverty incidence and socialistic societies People can't make their own decisions.