Capitalism vs Socialism: What’s the Difference? Essay Example

An example of capitalism is free market where the sellers and buyers interact independently. Different buyers charge same goods or services from different buyers differently and this is not influenced by the other traders. There is competition in the markets where each seller tries to outdo each other and make the best of profit from sales. The markets are unregulated and buying and selling of is determined by the forces of demand and supply of the products and services.

An economic system that would reflect humanist values and ethical principles that would favor equality and promote humanity as different cultures and regions would be the one that promotes fairness among people. This would be the system partially regulated by the state to ensure there is equality in the business deeds and that a country would ensure that about all its citizens have almost standardized lives from the business proceeds and earning. This economic system is to ensure that there is no exploitation of some citizens by other mainly the rich and businesspersons.

The ethical values for distribution of goods and services should be fair making sure that every person has access of the same. Moreover, the production of products should observe the best standards to have the best qualities that are not harmful to fellow human beings. Therefore, production should be organized in a way that everything that is involved in the process is placed in a perfect position for better flow and quality products.

To encourage creativity in production, the staff members should be free to offer their ideas, which later should be put into practice. The production process should not harm the environment with harmful chemicals and pollution. Moreover, the business should give back to the society through philanthropic deeds like building schools, healthcare facilities, and taking care of the old.