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Week 4 Assignment – The Role of Capitalism

Overview

Capitalism is an economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state. Socialism is a political and economic theory of social organization that advocates for the means of production, distribution, and exchange being owned or regulated by the community as a whole (1). In this assignment, you will write an essay comparing capitalism and socialism.

Preparation

Note: You must watch this video on capitalism and socialismbefore you begin this assignment.

Explain the concepts of capitalism and socialism.

• Examine the role capitalism plays in corporate decision making.
• Sources

1. William H. Shaw. 2014. Business Ethics: A Textbook with Cases. Wadsworth, Cengage Learning 8th edition textbook