DIRECTIONS FOR THE TERM PAPER:
1. Select the chosen topic (listed below)
2. Determine a thesis statement: Develop a clear position on the topic you select.
3. Develop clear arguments supporting your thesis.
4. Anticipate the most likely objection/s to your arguments or thesis and explain how you would defend your arguments or thesis against such objection/s.
5. Summarize the results of your analysis of the original issue or topic.

Chosen Topic: Capitalism is an economic system in which most resources are privately owned (by individuals) and managed for the purpose of making a profit (for individual owners). Its main alternative is socialism, where most resources are publicly owned (by the government) and distributed according to government assessment of the need (or demand) for those resources. 1. What are the main arguments that competition for the acquisition of profit (or property) under capitalism produces the most socially beneficial economic system? 2. What are the main criticisms of the economic inequalities that a capitalist system tends to produce? 3. On the whole, are societies better off, or worse off, under a capitalist system? Provide reasons for thinking that your position is correct, and explain why arguments for the other side are less compelling than your own arguments.

Please follow the attached directions carefully and answer all of the questions in the chosen topic as well