• Read Chapters 1 and 2 of Macroeconomics: Private and Public Choice.
• Read Chapter 7 of Popular Economics: What the Rolling Stones, Downton Abbey, and LeBron James Can Teach You About Economics.

For this discussion,

• Define capitalism and socialism and provide examples of countries for both structures.
• Next, discuss why capitalism and socialism are currently being spotlighted in U.S. politics giving the pros and cons to each organizational structure. Be sure to be specific and give supporting facts, not just opinions.
• Finally, address the question: Does capitalism create wealth inequality and is this necessarily a bad outcome?

Resource:

Gwartney, J. A., Stroup, R. L., Sobel, R. L., & Macpherson, D. A. (2018). Macroeconomics: Private and public choice (16th ed.).