Would the society that emphasized capitalist mode of

Reference no: EM13396898

Capitalism emphasizes fostering individualism while socialism emphasizes collectivism. A major criticism of capitalism is that it creates an unequal distribution of resources and income within society because of its focus on individualism over collectivism. However, a major criticism of socialism is that it lacks the incentives necessary for greater innovation thus preventing an economy from achieving a level of productivity to adequately support society.

Questions:

A. Why do socialist countries typically have difficulty keeping up with the technological innovations of capitalist countries?

B. Would a society that emphasized a capitalist mode of production benefit by a moral framework that emphasized collectivism (i.e., emphasized greater consideration of others and society)? Why or why not?

Reference no: EM13396898

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