Our teacher asked us to have a debate.
“capitalism” has won the competition as the most efficient and equitable and equitable way to organize a national(or regional) economy to increase wealth,reduce inequality, and sustain the “real” economy and our natural capital.
your team should be prepared to answer either pro or con.
my friend do main statement.
my part is conclusion, I need to summarize the part of my friend and then add my own summary. I am an international student, so please prepare a speech draft of about three minutes with simple words. I didn’t know we do pro or con. so I need to prepare two speeches
this is my friend speech draft:
Of all the economic models, capitalism has shown its ability to sustain economic pressures. For that reason, a majority of the countries in the world have embraced it widely as the most viable model. Most countries that had embraced socialist economic models have slowly moved towards capitalism. Even countries that are still touted as practicing socialism have embraced aspects of capitalism and allowed some aspect of free market controls; case in point China.
Capitalism is lauded for numerous things but the creation of wealth is one of the most distinct positive aspects of capitalism. Capitalism simply concentrates on the creation of wealth more than anything else. The free market model is aimed at allowing business players to reap maximum benefit from the market through competition. Technically, the rules of demand and supply are what push the price pressure within the market. Individuals and firms trading in goods and services that are in high demand reap from the continued supply. The key to increasing wealth is identifying markets, services and goods that can sustain supply and hence drive businesses. An example of how capitalism allows for wealth creation is the case of the Amazon, which has grown from an online bookstore to selling almost anything legal, offering server storage services and is now moving towards astronomy. As a result, its owner is now among the top ten richest individuals on earth and the company’s net worth has grown tenfold since it was admitted to the New York Stock Exchange
On the other hand, capitalism is often criticized for creating inequalities. When firms and individuals are allowed to run the market and influence the economy, the likelihood of seeking to reap maximum benefit increases. Competition among firms engaging in the same venture always presents itself as a major problem in free market capitalist economies. As a result, firms may engage in unethical practices that seek to push competitors from the market or stand to harm the end consumers. A good example is one of America’s largest agrochemical company Monsanto which has been accused of using harmful products with long-lasting negative impacts on its users, livestock and wildlife.