| Capitalism | Socialism | Communism |
| Ownership of assets is by a private firm | Ownership of assets is by government | The government owns and operates most businesses |
| Market forces determine income | Income is redistributed | The governments operate everything |
| Healthcare belongs to the free market | Government provides healthcare | Government provides healthcare |
| Creates inequality and market failure | Less incentives and poor performance of state industry | Less incentives followed by the poor performance of state-owned industries |
| Few individuals have powers | Hard work goes unrewarded | Lazy people enjoy equal benefits as hard-working ones |
| Strive to accumulate wealth | Strive to amass wealth | Strives to amass wealth |
Key: the United States represents capitalism, China and the Soviet Union represents Communists and Socialism regions.
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Capitalism has changed the lives of people in the U.S by making the economy competitive. Individuals seek to amass wealth for their own profits and re-invest the same wealth in the economy. However, in the U.S, capitalism has created inequality in the sense that the economy has the extremely rich and the extremely poor ( Szelényi, 2017). Capitalism tends to embrace democratic system of governance which allows citizens to elect their leaders after a fixed duration of time. Communist countries such as Vietnam and Laos experience high levels of state control which has limited free trade in those countries. Socialist countries such as China, on the other hand, have managed to create strong economies with fair distribution of wealth amongst the citizens ( Smith, 2017). However, the government still has strong control over the factors of production.
Philippines
The Philippines first settled 30,000 years ago during the migrations that originated from the Indonesian archipelago and other parts of the world. The Aeta people arrived in the Philippines using land bridges that connected the nation to the Asian mainland over 30,000 years ago and inhabited the isolated mountainous regions ( Acabado, Martin, & Datar, 2017) . The Aeta people are thought to precede the Austronesian migrations. The tribe practiced nomadism over the years, which saw them wander over the plains as they searched for pasture for their animals. The Aeta people still live in the Philippines today, inhabiting the northern part of the vast Philippines, majorly on Luzon Island. The Aeta migrated on the island from Borneo, with many of them living around Pinatubo Mountain until it erupted in 1991 killing thousands. The Ilongot tribe inhabits Sierra Mandre, which is in the eastern Alps of Luzon ( Delfin, 2015). The tribe grows food along rivers and has influenced the Aeta people who were traditionally nomads into the practice. Importantly, the Ilongot have also changed the Aeta through their culture; for instance, both tribesmen participate in household chores that traditionally were a reserve of the women in many cultures.
The Philippines is culturally diverse in the sense that it has many inhabitants, including the Lumad, Igorots, Ilongot, Badjao, Tumadok, Palawan tribes, among others. The different tribes find a way to live together harmoniously by following the rule of law established by the constitution ( Moseiko, Korobov & Frolov, 2015). The country is under a presidential system with the judiciary and the legislative arm of the government. The judiciary implements the law with the police providing enforcement. All tribes in the country uphold the rule of law and all those who break it are arrested and charged. Ethnic integration programs have always been running over the years. Primarily, the programs help the different tribes to accommodate one another and learn that each culture is important and deserves respect. Programs of ethnic tolerance have enabled the tribes to live in peace over the years ( Acabado, Martin & Datar, 2017). Most importantly, intermarriages have made the tribes interact more, leaving little room for conflicts.
References
Acabado, S., Martin, M., & Datar, F. (2017). Ifugao Archaeology: Collaborative and Indigenous Archaeology in the Northern Philippines. Advances in Archaeological Practice , 5 (1), 1-11.
Delfin, F. C. (2015). The population history of the Philippines A genetic overview. Philippine Studies Historical & Ethnographic Viewpoints , 449-476.
Moseiko, V. O., Korobov, S. A., & Frolov, D. P. (2015). Socio-economic systems' competitiveness assessment method. Asian Social Science , 11 (20), 1.
Smith, K. (2017). Capitalism. The Wiley‐Blackwell Encyclopedia of Social Theory , 1-8.
Szelényi, I. (2017). Capitalism after communism. In Twenty-five Sides of a Post-communist Mafia State (pp. 637-649). Central European University Press.
