Capitalism and How it is Viewed
analytical Essay
1509 words
Capitalism and How it is Viewed 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... ... middle of paper ... ...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. Works Cited 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.
In this essay, the author
- Explains that capitalism is a way of organizing an economy so that the things used to make and transport products are owned by individual people and companies rather than by the government.
- Explains that during the industrial revolution, there was a clear division between two classes, the proletariats and the bourgeoisie.
- Explains that capitalism is a laissez-faire system where the government makes no interference. without government interference, there is more freedom and less risk of government messing up the economy.
- Opines that capitalism isn't a positive thing, and that it could be worsened if people took advantage of laissez-faire policies, instead of improving the economy and society.
- Opines that marxism is the right way to go. marx believed that capitalism was a way of restricting one’s human freedom.
- Explains that marxism is based on the ideals that there is no difference between people; therefore there were no classes to divide anyone.
- Explains that marx and engels believed that the state and coercive institutions, such as police forces and courts of law, functioned to enable capitalists to continue their exploitation of the proletariat.
- Explains that adam smith was the father of free-market capitalism and believed in the laissez-faire government. he believed that the economy and society as a whole could benefit from it.
- Explains that smith's philosophy was that of laissez-faire, or to let it be without interference of the government.
- Explains that thorstein veblen believed in the term, conspicuous consumption, or, consumption made in order to make one’s social standing look even better.
- Analyzes how veblen critiques capitalism by saying that many ideas are just a waste of time. he disliked the idea of having the proletariat group work as hard as they do for the outcome of what they produced.
- Explains that veblen believed that the form of business used in capitalism was not beneficial to a government.
- Analyzes how karl mar, adam smith, and thorstein veblen had different views on capitalism and how it all plays out. capitalism puts more of the pressure on the working class than it does onto the private owners.
- Cites little, dan, "economist's view" and "the marxist critique of capitalism" from merriam-webster.
Related
- opinion
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- Capitalism: The Rationalization of Irrationalityopinion essayCapitalism: 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.
In this essay, the author
- Argues that capitalism cannot achieve socio-economic justice because there is too much focus on profit rather than people and dislocates the consumers from the modes of production.
- Explains that the pursuit of profit is one of the underlying features that make up our capitalist system.
- Explains how the drive of profit stems from within the economy. stanford illustrates the mechanics and relationships between investors (lenders) and corporations.
- Explains that investors have the ability to reverse their investment choices if they feel that their investments are not generating the profits they had hoped to gain.
- Explains that the pursuit of profit has highlighted another factor that impedes on the realization of socio-economic justice: capitalism's ability to distance people from the social consequences of focusing upon profit.
- Explains that neoliberal economists would answer 'nothing' because consumers have the individual freedom to pursue their wants and fulfill their needs as they see fit.
- Explains that the neoliberal agenda has made it possible for companies to seek out "investor-friendly" countries where taxes, environment and employment laws and policies are not as strict.
- Opines that companies operating in low taxed countries do not have to pay out a significant amount of their profit to the country they are currently operating.
- Explains that capitalism is characterized as a capitalist economy because it is structured around the pursuit of profit and production goods are taken up through wage labour. exploitation is underpinning this simplistic definition of capitalism.
- Opines that private consumption spending accounts for half or more of gdp in developed capitalist economies.
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- Describes the basic elements that must be present for capitalism to thrive, including minimal government interference and motivated people.
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In this essay, the author
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In this essay, the author
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In this essay, the author
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In this essay, the author
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In this essay, the author
- Explains that they will provide a quick overview of the evolution of capitalism since the great depression. they will analyze four different problematic areas of free-market capitalism in the us compared with the scandinavian government-managed capitalism.
- Explains that the 1930s great depression threatened to destroy capitalism, leading to abandoning laissez-faire capitalism and embracing the new deal concept of government-managed capitalism.
- Opines that america has the largest real gdp per capita in the world, but this is only a measure of the economy, not the average american's well-being.
- Explains that the rich are getting richer, which shows signs of plutocratic conditions ruling the u.s. c.e.o.'s are paid huge salaries.
- Explains that the oil industry in the u.s. has major interests in extracting oil from middle eastern oil fields in order to supply the future american industry with the needed oil.
- Opines that the prices in the marketplace and the supply of products reflect consumer preferences, but the popular will is not always the right one. morally, companies should not listen to what the consumers prefer but what they could benefit from.
- Opines that it is essential to draw attention to the different groups of "we" wanting different kinds of capitalism.
- Opines that shareholders, c.e.o.'s, board members and auditors are better off in a free-market capitalism than in government-managed capitalism.
- Explains that in a government-managed capitalist country, like the scandinavian countries, public goods or services like health care and education are available to everyone — this kind of capitalism would be the most suitable for the average worker and the poor.
- Argues that freedom and equality don't always go hand-in-hand in a democratic, free-market capitalist country like the u.s.
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In this essay, the author
- Opines that capitalism is the best system of economy for the united states because of the industrial revolution and an increase in the quality of life.
- Explains that the united states should use capitalism because of the industrial revolution's innovations, such as the light bulb, ac electricity, and telephone.
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