Cons Of Capitalism Research Paper

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Capitalism is a vital branch of the economic system. This system is characterized by private ownership of properties. Capitalism is also known as economic individualism since the related individuals control the level of production and distribution. The private owners are in a position to use any production method in manufacturing components of their preference. Additionally, in this form of economic system, the federal government is only responsible for ensuring both internal and external security of the nation. Moreover, the state is only in a position to control activities correlated to defense, administration as well as management. Capitalism is associated with high level of unemployment and fluctuations in terms of prices and revenues. The private economy is further sub-divided into two main categories namely, classical and monopoly capitalism. Classical capitalism is characterized by the free market and fair competitive factors. On the other hand, …show more content…

It is true that capitalism is associated with various benefits, nonetheless, its disadvantages outweigh advantages. Firstly, it is perceived that capitalism is mostly based on free production and distribution indulgent. Economists argue that this kind of economy is based on individual rights and freedom. Also, it embraces economic and social advancement. Contrary, this perception is quite misleading. Capitalism is a piece of cake to a few especially the powerful and the privileged elites in the society. Capitalism serves to benefit the interest of upper-class individuals while oppresses the desires of the low earning people. In most cases, capitalists gain profit and revenue by oppressing workers, who form the largest part of the community. I really have a strong negative attitude towards capitalism since it only promotes the development of a small group of elites while it damages the interest of the entire

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