Every country needs to have an economic system to improve people's lives and the growth of the nation. It plays an important role in the development of a nation. There are many ideas to achieve development, but the prevailing ideology is about capitalism and socialism. However, the development culture of capitalism is very strong and most countries are currently following this path. First, what is capitalism? Capitalism is an economic system that is privately owned and controlled for the purpose of making profits and increasing growth, capable of setting prices and operating freely. This path is completely different than socialism, where everyone is equal, safe and stable but has less income and could hardly grow. In the past, socialism was a safe opportunity for everyone, it gave people resources, money and the potential to live. However, as the world became more and more developed, people began to have more needs and desires. So they asked for more to please themselves. Having more stuff means you have to have more money. And it's the moment they understand that socialism will no longer be a good choice, because it won't satisfy people enough. For the whole world, it's a huge problem when people don't have enough money to live better, and somehow, socialism is not so fair since people are all the same. Because, no matter how hard a person works, they still have a certain amount of money even if that person deserves more. While those who don't work still manage to earn exactly the same amount. This could lead to people becoming lazy and stopping working hard, possibly slowing down the economic system and, once again, people have less income and barely live. Therefore, many countries chose to be capitalized, growing... middle of the paper... large. Building the family for another 10 years and it was as solid a performance as it is now. For me it is a great pride. Life is so much better now. I can buy many things that my parents did not have the opportunity the day before. Because businesses weren't that developed back then. I think, after all, money is the most important thing and is the key factor in determining every person's future. After all, we can say that capitalism is beneficial but also harmful. Through the real life examples mentioned above, I personally think that Vietnam should follow a completely new way to develop the best economy that the future will generate massively. However, this is just my opinion. Because everyone has a different way of thinking. I hope that in the future, Vietnam will always remain in the best position to ensure a good life for all people. Works Cited www.worldbank.org