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People argue whether capitalism and socialism are better. But which one is actually better? They both have advantages and disadvantages. Capitalism has the advantages of encouraging and creating wealth through open markets. But on the other hand, socialism puts well being first and brings down the money gap between the wealthy and the poor. Even though they both have advantages that seem to benefit our society, the question still stands. Which one is the best? Well for me, it's socialism. Favouring people's well-being and trying to close down the wealth gap in the rich and poor sounds great to me! But what about capitalism? Don't you want wealth too? Well, is all that money really worth it when you're depressed? I don't think so.

The first reason I say that socialism is a better benefit to society is because it prioritizes people's well-being. Socialism makes sure the economy is fitting what people need instead of just what someone needs to make money. They treat people's health care as if it was a need, which it is, instead of a privilege for someone with money. Imagine being able to get healthcare even if you are poor? That'd be amazing. Another thing that socialism does that prioritizes well being is housing people as a right. Most people cannot afford housing. About 35% of people in the U.S rent and about 745,652 people are homeless as of 2025. And that number does not decrease every year. Imagine a world where you don't see homeless people everywhere. There are families out there that need housing. And socialism helps with that and labor. Socialism makes sure people who are working have a healthy work lifestyle. Mandatory paid vacation time helps workers release stress and become healthier. Also it helps people make better family time and relationships.

Another thing that socialism does to benefit the society is that socialism works on trying to bring down the huge money gap between the poor and the wealthy. One example is increasing the taxes for higher paid workers. It's not fair if someone who makes about 20k a month has about 34% of taxes taken out of their paycheck while someone who is wealthier is facing a less effective rate, allowing them to pay less in taxes, which also leads to social ownership of industries. Some industries, (including but not limited to banking, transportation, natural resources) are placed in private hands. Meaning one or a group of people owns them and profit from it. But socialism puts a stop to that. It places these big markets in the hands of the state or a collective type of ownership shared by the workers. So instead of billionaires making even more money by something they just own, everyone else could also benefit from it. What else does socialism do to lower the wage gap? De-commodification. For further explanation on what this is, let's break down the word. Commodification is when something is made into a product to be bought and sold. The part 'de' means to remove. De-commodification is trying to break things being turned into products. One day the healthcare you get is the healthcare you could afford. Getting treated properly is something rich people could afford. De-commodification is trying to remove that so everyone could get the right healthcare no matter how much you are getting paid.

People say that capitalism is better for society but why? They say that competition between companies encourages them to make better products, but does it really? Companies that are successful will just buy out their competition. For example, ever wonder why Disney owns most of 21st Century Fox? Weren't they rivals in entertainment. Well the answer to that question is yes. Disney is an incredibly successful corporation. If you had enough money why not buy out your competition. That is what capitalism encourages. Businesses shut down due to their rival buying them. People losing their jobs because they didn't make the 'cut' for who now owns the business. People who don't deserve it are now getting even more money as the rest of the world is scraping together savings to make it through the week. Socialism works on closing that giant bridge in wealth. It's shutting down the unfairness of people being able to 'buy out' other businesses. Capitalism is not. It's encouraging all of this and putting the world further into the wrong.

As you can see, socialism benefits our society better. It focuses on our well being. It's consistently trying to work on bringing down the giant wealth gap in our society where capitalism isn't. Wouldn't you love driving down the street and not seeing homeless people on every corner when they should be in a nice warm home? Wouldn't you love to not have to scrap together your earnings to feed your family while these billionaires are having private chiefs cooking for them? If you want to see all of those things then support socialism and put a stop to all this unfairness in the world