Burrows T. Lundy, the namesake of the Lundy-Fetterman School of Business, once said, ” The free enterprise system is…the most productive and rewarding…it is also the most moral since it assumes as rights of the individual to possess the products of his labor, to exchange them for what he wants, to determine his own standard of living, and to consume what is his…” Write a 1200 – 1500 word paper comparing and contrasting capitalism and socialism. Your paper should this outline: (1) Abstract / Statement of purpose of the paper (2) Background / Brief History of capitalism and socialism (3) Comparison between capitalism and socialism (4) Contrast between capitalism and socialism (5) Conclusion You must present your paper in APA format and cite your references. 15% of your grade will come from APA and citations. Your paper should have section headings based on the outline. This makes reading and grading your paper easier. Since this is an economics-based class your paper must be presented in positive economic form rather than normative. This means that your paper must be free of personal opinion, bias, hyperbole, and “feeling.” Your sources must be credible. Use peer reviewed journals and readings from the course. DO NOT USE COMMON WEB SITES AND/OR WIKIPEDIA.
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