One Giant Monopoly

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Socialists warn about the dangers of monopolies in capitalism, but ironically enough, socialism establishes one giant monopolist (the government) in control of all industries. The difference is that in capitalism…

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Socialism

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The vision It is a pure command economy (also called a command-and-control economy). The government owns all the resources and makes all the decisions of what to produce with them.…

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Profit & Loss

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Generally speaking, activities with high monetary profits will attract more entrepreneurs than those that cause losses. In a market economy with open competition, there is a tendency for monetary profits…

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Interest

Interest is the amount of money paid to a lender above and beyond the return of the principal. For example, if someone lends out $1,000 and receives $1,100 back one…

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