developed since the Industrial Revolution, these are Capitalism and

Socialism. Both systems have advantages and disadvantages, this essay will

explain these, and also give my proposals for a mixed system for the whole

society of the United Kingdom. Capitalism Capitalism generally started as an

economic system in the United Kingdom at the time of the Industrial

Revolution. The basic explanation of Capitalism would be to say that 'the

economy is left to its own devices with no Government intervention'. A

Capitalist economy is a market economy where all economic decision making

is decentralised, and the Government will only supply national defence,

administer justice and provide certain public works. The goods that are

provided in a Capitalist economy are decided by individuals who choose how

to use their labour and spend their income. All resources are privately owned

plantations. Around the time of 1860 there were as many as 3.9 million slaves

must be taken in the successful completion of owning a business. When one

large cities and towns. The people who cannot make any money in the

could make it very appealing to society. The system allows the powers of

determining how many employees will be needed to run the company. One

Some common words found in the essay are:
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Approximate Word count = 3906
Approximate Pages = 16 (250 words per page double spaced)