Capitalism or Socialism

Content Requirements: True or not, Ben Franklin is reported to have said when asked at the end of the Constitutional Congress that with our new set of laws, we were a Republic if you [we]can keep it. With the New Deal, Franklin Roosevelt enacted several social welfare programs that put restrictions on business entities in the United States. He also threatened to pack the [Supreme]court if the they continued to declare his programs unconstitutional.
Working from a federalist point of view that individual states have powers beyond the reach of the federal government, how can we decide if capitalism or socialism works for or against our political ideals of a federalist system of government? Capitalism works on a free-market economy that respects private property, be it a business, and/or individual wealth accumulation and leaves some powers within the states. Socialism works on a communal system of ownership that places individual ownership of property under the control of the state [federal government] and restricts what wage/benefits individuals can individually control. These are a few of the differences in the two economic systems.
After Roosevelts presidency, the federal government was more at ease, at least in the Democratic party, enacting social programs meant to benefit the American people. Beyond the question of whether these programs may have helped people as they were intended to do, a question is whether we are on a trajectory to give more power to the federal government? Are we still acting within the vision FDR began of seeing government playing a bigger role in peoples lives to be beneficial? What restriction could we have under a socialist economic model?
If our country was founded upon a capitalist economy to drive our republican principles of the right of the people to choose for themselves how they will be represented, can we still keep our republic as Franklin told us we could do if we remained true to our republican way of governance?
Compose a 2-3-page paper on this topic, choosing your opinion and support with at least 2 references as evidence. Use APA formatting.

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