Capitalism, if you want to know what it is this will tell you, it is a place where you can get all the J’s, Nike’s, or if you like Adidas. Capitalism is an economic and political system that makes up a country's industry and trade which is made up of private companies separate from the government unlike socialism. Capitalism is the best economic system to allow your company to grow and succeed in a country's economy.
Capitalism is an economic system where people and private businesses are able to control their own trade and means of production for profit. It emerged as technology, production and trade began to increase. During the industrial revolution, capitalism started to influence people more. Some characteristics of capitalism are capital accumulation, competitive markets and wage labor. The government isn’t supposed to interfere with trade. Individual markets raise or lower their prices due to competition and demand for goods. There has been a lot of debate over the usefulness of capitalism. Some believed capitalism had negative effects while others saw more benefits. Adam Smith and Andrew Carnegie pushed for a capitalistic society, but had different beliefs on how economic wealth should be distributed; Karl Marx advocated for a communistic society where wealth was evenly distributed.
Although pure capitalism and pure socialism don’t exist in the real world, those two economic systems are on complete opposite sides of the spectrum. The basic philosophy of capitalism is that capital is owned, operated, and traded for generating profits for private owners or shareholders. There’s a particular emphasis put on individual profit rather than society as a whole; socialism is essentially the opposite. According to socialism, each person must contribute something to society according to their ability, and profit is distributed among the society or workforce to complement individual wages/salaries.
In a Capitalist government, citizens have the right to vote for a president, along with having the right to choose a state government. People also have the right to freedom of speech; for instance, they can choose to protest against the government or go on a strike when it comes to their job if the company was to be unjust. In this class of government, means of production of goods or services can be privately owned and operated for a profit. Capitalism has a lot of advantages over socialism; one of them is more
To begin with, capitalism is a type economic system. Simply put, capitalism is the system where workers work for the capitalist and receive wages for their labor. In, Wage-Labour and Capital, Marx explains the exchange between the capitalist and their workers in regards to wages and labor. He wrote:
Capitalism came into being as a social and economic system when private individuals or corporations--as opposed to the state or classes of people--began to build businesses where the goal was profit motivated for the self-interest of the owner. This is opposed to a socialist system where the business may be owned by the state and/or profiting the state. In an ideal world, it is the economic establishment of the individual right for self-accomplishment. The private individual/corporation succeeds or fails based on its own merits. The rewards can be great, but the downside, left unchecked, can yield greed and corruption. It's survival of the fittest, whether fair or not. To those who love
Capitalism is an economic system characterized by the private ownership of the means of production, and where production is guided and income distributed largely through the operation of markets. The objective of a capitalist society is to gain profit.
When one gets down to the roots of capitalism you find that it is a form of government that allows the rich to get richer, the poor, poorer and the middle class to stay the same. Karl Marx wrote a book, Kapital about the what capitalism does to the people in a society, how it takes the humainty out of being and replaces it with x. Not only does it do that but it creates a chain of commodities, fetishisis, and alienation within a society.
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 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.