Capitalism, by definition is known as “a way of organizing an economy so hat the things that are used to make and transport products are owned by individual people and companies rather than by the government”(Marxism). To some, this is the correct way of handling the economic situation in one’s country. But to others, such as Karl Marx and Adam Smith, there are other systems that would be more adequate. Is capitalism really the best way to go? What are the other options that could be better than capitalism? We must see which would be the best for society. If one were to negatively affect it, then it is not an option that should be taken. So, we must see the pros and cons for capitalism and how it can affect the economy and our society.
During the Industrial Revolution, there was a clear division between two classes, the proletariats and the bourgeoisie. The proletariats were mostly the working class. They were the laborers who were in the factories, doing the work that the proletariat class paid them to do. The bourgeoisie were the business owners, the people who had property and made money off of it. Some believed that the proletariats only wanted to make money off of the bourgeoisie’s work but that they did not care much for them. If it were to make them money, they’d make the bourgeoisie do it for them. This, shows a bit of capitalism by way of the bourgeoisie.
Capitalism is known as a very laissez-faire system, or one where the government makes no interference. Throughout the years, many countries have adopted this form of economy in order to have the people’s say in it. Without interference from the government, there is more freedom and less risk of the government messing the ec...
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...ill not have to deal with a giant mess made by these different implemented systems. So, is capitalism the right way to go? It really depends on the point of view you look at. Whether it be Marx’s, Smith’s, Veblen’s, or one’s own, all that really matters is that we look for what will most positively benefit us.
Little, Dan. "Economist's View." : 'Thorstein Veblen's Critique of the American System of
Business' N.p., 13 Nov. 2013. Web. 20 May 2014.
"Marxism." Merriam-Webster. Merriam-Webster, n.d. Web. 26 May 2014.
"The Marxist Critique of Capitalism." Boundless. N.p., n.d. Web. 29 May 2014.
Weber, Devra. World History: 20th Century. N.p.: McGraw Hill, n.d. McGraw Hill Education.
Web. 20 May 2014.
Welch, William. "Adam Smith: Capitalism's Founding Father." Adam Smith: Capitalism's
Founding Father. N.p., n.d. Web. 26 May 2014.
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