Since I was absent on WEEK 2, I don’t know what exactly the class discussed about this topic. But to start with, my personal opinion about capitalism is clear: I have positive thoughts and highly prefer this economic system because I lived in South Korea, where it is ruled by capitalism. Although our country adopts capitalism for economic development, many individuals in our country strive for socialist welfare and demand equal distribution of wealth. However, I personally will continuously go for capitalism because I think this is the best way to make the country grow in a better way and to advise how individuals will participate in creating their wellbeing. In my opinion, it is obvious that people get rewarded based on their behavior. For example, if every person earns the same amount of money no matter how they put an effort, I think people will start to lose their initiative and desire for profit, which motivates them to work. This is why I believe communism is the most powerful and smart economic system in the world.
