The Importance Of Capitalism In Today's Society

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Divisions within the social stratum is a characteristic of societies in various cultures and has been present throughout history. During the middle ages, the medieval feudal system prevailed, characterized by kings and queens reigning over the peasantry. Similarly, in today’s society, corporate feudalism, otherwise known as Capitalism, consists of wealthy elites dominating over the working poor. Class divisions became most evident during America’s Gilded Age and Progressive era, a period in time in which the rich became richer via exploitation of the fruits of labor that the poor persistently toiled to earn. As a result, many Americans grew compelled to ask the question on everyone’s mind: what do the rich owe the poor? According to wealthy …show more content…

Andrew Carnegie, a Scottish-American steel tycoon and one of the wealthiest men of the nineteenth century, believes that social inequality results as an inexorable byproduct of progress. In his 1889 article entitled “Wealth,” Carnegie claims that it is “essential” for the advancement of the human race that social divisions between the rich and poor exist, which separate those “highest and best in literature and the arts” who embody the “refinements of civilization” from those who do not (105). According to Carnegie, this “great irregularity” is favored over the “universal squalor” that would ensue if class distinctions ceased to exist (105). Carnegie states that it is a “waste of time to criticize the inevitable,” believing that poverty is an inherent characteristic of society rather than the result of elitist oppression (105). Carnegie may conclude that the rich do not necessarily owe the poor anything, but he also believes that wealthy philanthropists such as he should donate their vast accumulations to charity while they are still alive. In Carnegie’s mind, contributions to supporting educational institutions and constructing landmarks serves to …show more content…

Led by Clara Lemlich, 20,000 immigrants, mostly young women, demanded a twenty percent pay raise, a fifty-two hour workweek, and a closed shop (59). Their cause gained a significant amount of attention and caught the eye of wealthy progressive reformers, such as Alva Belmont and Anne Morgan, who perceived the strike as an opportunity to also advocate their own objective: women’s suffrage. Wealthy elites like Carnegie and Sumner may have believed that efforts to change the natural order are futile, but Morgan claimed that after learning about the details of the strike, she and other women wouldn’t be able to live their lives “without doing something to help them” (72). These affluent women demonstrated their support from both sides of the spectrum, from modestly distributing ribbons and buttons, to Alva Belmont’s contribution of her several cars to a parade for the striking workers (682) and the pledge of her mansion as surety for the bail of four strikers (76). Without the aid of these women, it was doubtful the strikers “could have lasted much longer without progressive money” (70). However, frustration arose amongst picketers as these progressive reformers turned a strike based on class struggle into a “broader feminist revolt” (68). Morgan blamed the strikers’ treatment on the inability for women to vote, not their inability to unionize (67). Striker’s retorted, asking

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