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Capitalism is considered to be a more dominant economic system as opposed to socialism in the United States of America. It gives people the right to own property which is essential to those individuals who plan to provide for themselves and their families in the future i.e. owning a house, business, land. The rights of private property attribute quite immensely to the economic growth and our own country
exemplifies that quite well. Thus, U.S.A excels in that sense whereas most of Africa fails to do so, due to the fact that they suffer from poor economic growth. Furthermore, capitalism provides the individual
with motivation and incentive to do better; you are rewarded in accordance to your work of action because of the price of labor in which the market decides your pay. For example, if one person has the
ability to do far better in terms of performance and efficiency than the latter, their hard-work will be highly acknowledged in contrast to the person who lacks such skills. In......

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Approximate Word Count: 603
Approximate Pages: 3 (250 words per double-spaced page)

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