Argumentative Essay On Capitalism

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The Debate of Capitalism

The theory of capitalism is defined by Merriam-Webster as “a way of organizing an economy so that the things that are used to make and transport products (such as land, oil, factories, ships, etc.) are owned by individual people and companies rather than by the government.” Many people associate this ideology with the father of capitalism, Adam Smith. His views on economy are labeled as laissez-faire, which is a policy that requires things, such as companies, to take their own course without government interference. Some people believe that the idea of capitalism promotes successful and healthy economic individualism in a free market economy. Others believe that capitalism is a detrimental strategy for our economy,
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I don’t believe that we need any more government moderation then we already have. Like Webber suggests, “The market, like nature, should dictate who wins and who loses” (Webber 1). The market should run its own course and businesses and private owners should have the right to do what they must do in order to prevail in the business world. Further moderation by the government might not only turn our economic system into a socialist system, but more of a communist structure, which we have witnessed through countries such as China and Russia is typically…show more content…
High costs, complex and expensive machinery, intense competition, and the advantages of large scale production all work against the survival of small firms” (Shaw 162). Without regulation, these large companies have the ability to take over small businesses in order to control pricing for a certain product as a whole. Government supervision would make it almost impossible for monopolies and oligopolies to
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