Introduction Capitalism is an economic system in which industry, trade and factor and means of production are controlled by private investors or owners with an aim of making profit in a market economy. It affects the rate of capital accumulation, labor wage and the control of competitive market. This usually affects the economy of different societies since the government has no control over the economy. The forces of capitalism greatly affect the societies in that the poor continues to be poorer while the reach society continues to accumulate wealthy and become richer. It widens the income disparity gap.
Though the groups gener... ... middle of paper ... ..., S. (2007, January 9) The goal: Wealth and fame. USA Today. Retrieved February 3, 2014, from http://usatoday30.usatoday.com/news/nation/2007-01-09-gen-y-cover_x.htm Lizardo, O. (2007). Fight Club, or the Cultural Contradictions of Late Capitalism.
Many different factors contribute to the exploitation of developing countries and has caused many issues for them economically. In spite of the fact that free trade increases opportunities for trade internationally, it also increases the risk of failing for small companies in undeveloped countries that cannot compete on an international level. I cannot definitively say that globalization itself is completely good or completely bad, however I do believe it has caused great losses for the poor and middle class.
For example, Locke believed capitalism was the way of the future while Marx believed that capitalism only helped the bourgeoisie while it harmed the proletariat. These men played a huge role in society and influenced the views of some leaders throughout history. Works Cited Locke, John. Second. Treatise of Government.
Reinventing Marxism, JohnsHopkins University Press, pp. 177-192 Street, P. Capitalism and Democracy "Don't Mix Very Well": Reflections on globalization, February, 2000. Z online Magazine: http://www.iefd.org/articles/capitalism_and_democracy.php UNDP (2004), Arab Human Development Report 2004: Towards Freedom in the Arab World . Pp. 12
Every single one of them has their pros and cons. Capitalism is no exception. Cons in Capitalism include monopoly in which large companies can become too powerful. Unfair pay and worker exploitation are also used to increase profits, which lead to greed in wanting more and more money. However, these things happened in Socialism and Communism as well; the only difference is that in Capitalism the people have the choice to become better.
Political corruption has existed throughout the ages. It believed to be most prominent in positions of power, because of the role money plays in getting people power. However, over the centuries, corruption has changed so much so as to not match a particular definition of corruption, perpetually growing deceptively harder to find (Ebbe). The broadest, most suitable definition which exists today simply states that corruption is any illegal act performed by a politician to produce results which would have been otherwise impossible (Ebbe). In some cases, government, politicians, and criminals entwine for the sake of amassing money in order to secure their own jobs.
17 Feb. 2014. Kats, Milena. "Freakonomics: A Rogue Economist Explores The Hidden Side Of Everything." American Economist 50.1 (2006): 93+. General OneFile.
Reich, R. (2007). How capitalism is killing democracy. Foreign Policy, Sep/Oct2007, 38-42. Retrieved from Academic Search Complete. Rein, S. (2009).
Retrieved from: http://www.lilithezine.com/articles/politics/American-Recession.html Northern Arizona University, (2001). Methods of Data Collection. Retrieved from: http://www.prm.nau.edu/prm447/methods_of_data_collection_lesson.htm Sengupta Saptakee, (2010). Causes of Unemployment. Retrieved from: http://www.buzzle.com/articles/causes-of-unemployment.html Trading economics, (2011).