Even though it has incredible benefits a Capitalist society still has its drawbacks. To put it simply Capitalism encourages greed and certain abuses of power will always remain present in the system. Those who constantly attempt to ri...
Capitalism: The Rationalization of Irrationality
Capitalism as an economic system has not been around for a very long time. Stanford indicates that this economic system began in the mid-1700s in Europe . For a considerably young system, it almost seems impossible to imagine a different way of living. Capitalism has become deeply embedded in our social structures; it is naturalized as a way of doing day to day things. If this is the case, then we as humans have a long way to go if we are to achieve social and economic justice.
It is this notion which gives the capitalists the opportunity and the means to exploit people in the society, through their wants and needs for an easy, nonchalant lifestyle. The problem arises when we start seeing these capitalists as saviors - as rescuers, and sometimes even incarnations of God - who save the people under them, from the hardened, miserable, and volatile life which they may have lead otherwise. It is at this moment where we commit our biggest mistake: put in our trust, faith and our life in the hands of these capitalists. They hardwire such people - make them feel like a prince, where in reality all they are, are peasants being manipulated and controlled to fulfill the personal objectives of these capitalists. It is in moments like these, where a person must realize, that all these comforts - these resources, these status privileges, the capitalists trust in them - are all but ‘baits’, intricately thought of and designed to ‘lure’ an individual into the trap from which - despite tremendous efforts - if caught, it is extremely difficult to escape from. It is, in moments like these, where one must develop and possess the mental
In today's society, there are many forces that shape the world. Three forces that have a major impact are Capitalism, Globalization, and the Natural Environment. These forces all play major roles in either influencing or informing my lived experiences.
Capitalism is an economic system in which private citizens own factors of production and have the freedom to make economic decisions. Adam Smith, an advocate of free market economies, published a book in 1779 entitled The Wealth of Nations that illustrated his views on capitalism and brought them to the public eye. Thomas Malthus and David Ricardo were influential men who supported Mr. Smith in his ideas. Mr. Smith recognized the ills that come from too much government interference, and encouraged the spread of capitalism to keep businesses owners free. Under capitalism, a person’s income is based on his accomplishments. The harder one works, the more money he will earn, and the higher he will climb on the social status. In this economy, all officials are elected in free elections. Consumers, as well as entrepreneurs, decide what will be produced, based upon what they “vote” for with their dollar.
Capitalism came into being as a social and economic system when private individuals or corporations--as opposed to the state or classes of people--began to build businesses where the goal was profit motivated for the self-interest of the owner. This is opposed to a socialist system where the business may be owned by the state and/or profiting the state. In an ideal world, it is the economic establishment of the individual right for self-accomplishment. The private individual/corporation succeeds or fails based on its own merits. The rewards can be great, but the downside, left unchecked, can yield greed and corruption. It's survival of the fittest, whether fair or not. To those who love
In 1776, Adam Smith created a publication called “The Wealth of Nations,” which was the beginning of Capitalism (Anderson, 2001). His theory stated that the wealth of nations could be increased by allowing the individual to seek their own self-interest and removal of governmental control over the economy (Anderson, 2001). There are three major points for the theory of capitalism. The first system was based upon the observance that people are motivated by self-interest (Anderson, 2001). The second premise was the acceptance of private property, which would be owned and freely traded in a market system (Anderson, 2001). Gains for exchanges of property creates incentive and become the driving power behind capitalism (Anderson, 2001). Lastly, the theory stated that it would be ideal to minimize the role of the government. The idea was to decrease the role of the government and increase free market (Anderson, 2001). Capitalism has a number of advantages that have liberated economic potential and provided a foundation for a great deal of political and economic freedom (Anderson, 2001). However, the down side of capitalism is that it can lead to monopolies (Anderson, 2001). Chr...
Despite the unwavering economic disparity caused by the flaws of capitalism and other dooming views of capitalism, nevertheless it allows:
We blindly accept that Capitalism is the only or even the best economic system we, as humans, are capable of imagining. And while it's true that Capitalism works for the few, it most often doesn't work for the many. In fact, as many economists and political scientists will tell you, Capitalism is dirty business. It thrives off the most vulnerable among us -- the lowest paid and the unpaid.
When one gets down to the roots of capitalism you find that it is a form of government that allows the rich to get richer, the poor, poorer and the middle class to stay the same. Karl Marx wrote a book, Kapital about the what capitalism does to the people in a society, how it takes the humainty out of being and replaces it with x. Not only does it do that but it creates a chain of commodities, fetishisis, and alienation within a society.