Capitalism Debate First Affirmative Construction: Doing well is the result of doing good. That's what capitalism is all about.-- Ralph Waldo Emerson Imagine a system in which everyone can gain wealth in a free market. A place where hard work actually pays off. Where freedom of speech actually allows unreserved opinion.
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. The question I aim to explore is whether capitalism is capable of achieving socio-economic justice. I am arguing that it cannot achieve justice because there is too much focus on profit rather than people and it dislocates the consumers from the modes of production which indirectly promotes social inequality. Our current economic system which I will be interchangeably using as capitalism throughout the paper will examine why the focus on profit is detrimental to the social well-being of people and explain how capitalism is divisive and why this can pose negative outcomes for individuals and communities. It is with these arguments that outline the need for a fundamental change to how our economy is structured and managed.
Capitalism has been proven time and time again to be the most "effective" (in terms of production) economic system in existence, but this is only secondary to the primary fact that it is the only moral economy. In Atlas Shrugged Ayn Rand shows that, by its very nature, capitalism is freedom: the freedom for a man to do what he wants to do with the product of his own mind and effort and, the corollary to that, the freedom to live.
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...
"What Kind of Capitalism do We' want?" Introduction First of all, I will provide a quick overview of the evolution of capitalism since the Great Depression, which I believe is necessary in order to understand the capitalism of today and some of the problems to it. Then I will analyze four different problematic areas of free-market capitalism in the US compared with the Scandinavian government-managed capitalism. I will then discuss what kind of capitalism we want: We being different interest groups, such as the shareholders, the C.E.O.'s, the average worker and the poor. Finally I will discuss what values might be at stake in capitalism. The evolution of capitalism
Pure capitalism promotes a laissez-faire kind of free market, because it was believed that government intervention would cause inefficiencies and unfairness. However, nowadays it is more common for it to be a regulated market, where certain rules are in place to prevent unwanted or unfair occurrences in the economy. Capitalism also tended to rely on the markets themselves to determine investment as well as production and distribution decisions. Socialism, on the other hand, thought all individuals should have access to basic needs and public goods to allow for a kind of self-fulfillment or realization of their own potential. Large-scale industries were supposed to be collective efforts, and therefore the returns from those industries must benefit society as a whole. Government played a much larger hand in socialist economic systems, which relied primarily on either centralized or decentralized planning to determine investment and production decisions. The idea that property ownership should be in the hands of the government was because socialists thought that the government could produce a larger amount of better qu...
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.
In terms of production: Capitalism has been proven to be the most effective economic system, but only second to moral economy. Ayn Rand has shown that in “Atlas shrugged” that by its very nature, capitalism is freedom: the freedom for any to do what he wants to do with his mind and effort, and freedom to live.
Capitalism doesn't concern itself with fairness. It doesn't promote an ethical conscience and it, in reality, has very little to nothing to do with the principles of fair exchange. Capitalism is not a system that concerns itself with the principles of "freedom" or equitable exchange. In a very real sense, then, Capitalism is, quite possibly, the very a...
Capitalism was a very strong form of government in fact, it was so strong that it was one of the factors that led to the evolution of the Industrial Revolution. Capitalism is a form of government where it’s based on open competition in a free market, in which individuals and companies own the means of production and operate for profit. The Industrial Revolution that began in 1780 in England, was a time shift from using hand tools to machines producing the demands of humans. Through the growth of capitalism, much of society began to question themselves whether the effects of capitalism on society, the nature of human beings, and the ideal social and economic situation was unjust or not. Karl Marx and Andrew Carnegie were two people who disagreed