Discuss the problem of the effectiveness of capitalism to produce prosperity but its tendency to produce...

Discuss the problem of the effectiveness of capitalism to produce prosperity but its tendency to produce inequalities and greed. Do you agree or disagree with this assessment? Discuss.
Does the Bible support a capitalist economy or a socialist economy or neither? Defend your answer.

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Expert Solution

I agree with the problem of the effectiveness of capitalism to produce prosperity but its tendency to produce inequalities and greed. This is because capitalism helps in providing jobs to the people and also helps in development of economy as well. However it instills the feeling of inequality among the people as well due to imbalance of power and distribution of power in the hands of rich and influential people. Moreover it results in greed and negativity among people as well due to the chances of earning more.

The Bible supports a socialist economy rather than a capitalist economy. This is because the Bible is aimed to foster bonds among people and teaches the mankind to be social in nature and help each other without any ulterior motive of their own. The Bible prophecises the common bonding and mutual trust and respect among people which is the indication of socialist economy and provides for equality and harmony among people.

keosha answered 2 hours ago

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