Capitalism: Good or Evil?

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INTRODUCTION: Along with the advance and development of the society, capitalism is acquired by lots of countries among the world. But in the meantime, an increasing number of problems are brought to our attention, one of which is the pros and cons of capitalism. As to whether it is a blessing or a curse, people take different attitudes. Capitalism can be traced back to the Middle Ages in Europe, and this economic system has been contributing to the whole human race for centuries. However, people are attaching more importance to what capitalism is really doing to us, and they start wondering if another world is possible. My paper will focus on the question “Is capitalism good or evil”, and discuss different views about it. Capitalism is currently one of the two major economic systems that are being operated among the world. For my interpretation, its basics are privatization and individualism. That is, capitals are privately owned, profit of production is also privatized, and the society exists more on the basis of individuals than of groups. From an economic aspect, we undoubtedly acknowledge that capitalism is making great progress and wealth. As an example, the most powerful country in our time, the United States is a typical capitalist country. Yet, we also cannot deny that this system is causing problems and they are gradually getting widely concerned. Therefore, this controversial issue is often brought into public focus. The question is, is capitalism actually good to keep or it is evil to be replaced? There has always been a debate nowadays over the topic of capitalism. Those who favor capitalism argue that it is doing more goods than bads for us. But people who criticize capitalism, on the other hand, hold... ... middle of paper ... ...m various angles and let time prove for us. References: Jonathan Korman (Apr. 15 2005). ‘Liberty and Capitalism’. Retrieved on Mar 22, 2011 from: http://miniver.blogspot.com/2005/04/liberty-and-capitalism.html David McNally (2006). ‘The Invisible Hand is a Closed Fist: Inequality, Alienation, and the Capitalist Market Economy’ from Another World is Possible: globalization and Anti-Capitalism, 2nd edition, Arbeiter Ring, 60-95. Ursula K. Le Guin (2006). ‘The Dispossessed: An Ambiguous Utopia: Chapter 5’ from The Dispossessed: An Ambiguous Utopia, Victor Gollancz Limited, 126-153. Anonymous author (Mar. 1 2007). ‘American Capitalism, A Necessary Evil?’. Retrieved on Mar 23 from: http://www.theshieldnewsletter.com/?p=112 Lynn Harsh (Nov. 2002). ‘Capitalism – A Deal with the Devil?’. Retrieved on Mar. 23 from: http://www.effwa.org/newsletter/2002_11b.php

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