Capitalism is the American ideal, but unchecked and immoral capitalism leads to collapse through greed. No solution will be easy and America will suffer regardless of what is done, though some action must be taken. Currently the American people seem to be in a slight state of denial, wanting the return of unrestrained economic growth rather than the consequences of such actions. Individuals have accepted offered loans beyond their means, and banks have financed individuals beyond their means; partly due to governmental pressure. Regardless of the reasons, we are held liable for our debts.
Although Locke believes that currency has had a negative impact on society, he recognizes that due to the introduction of the lasting value of money that allows man to buy other man’s labor, people have agreed that they can hold more land than they can work themselves. In contrast, Aristotle’s argument that “true wealth” can only be found in the goods necessary for human life, denounces labor as a means to procure greater property, as he believes man should
Karl Marx in his “Communist Manifesto” states that the wage gap will eventually result in revolutions of working class across the world, and consequently difference in classes will be vanished. Whereas, Robert Reich in “Why the Rich are Getting Richer and the Poor, Poorer” argues that American strategy of economic development, which is based on expansion of the production, will lead to collapse of American economy. Though, the poor people will suffer of various deprivations, wealthy people will be putted into even more unenviable situation in both cases. Moreover, scenario given by Marx in his work proposes the worst position for the rich people than Reich describes. First of all, the equal situations illustrated by both authors are result of over-extension of the market.
Without these measures, he believes, the American education system will continue to degrade as everyone will become equal, with none terrible and more importantly, none great. Mr. Henry asserts his belief that in a watered down workplace, complacency is only eclipsed by averageness. For an individual to progress and excel through college, it takes a certain measure of drive to achieve the necessary academic quality. This drive requires its recipient to work harder and achieve better grades, more income... ... middle of paper ... ...ity of a four year education; those restrictions would also deny the opportunity of higher education to many who could achieve even greater success than those who had been chosen. Throughout history, there are stories of ordinary individuals who rose up to live extraordinary lives.
In order to achieve success, we must know that it is made up of two main concepts and they are fortune and position. But when a person is limited by their class prohibiting them to achieve success, the point of trying is meaningless. However, there is a way to break the construct that keep groups stuck in the lower-class and is through education. Education gives more opportunities for success to the individuals and since education is very important, culture and the government should focus more directly upon this to reach economic stability. Class standing directly affects economic success in America by limiting a person’s chance of success however; one can overcome by focusing more upon education and culture.
Improving Capitalism Mankind is an inherently greedy and materialistic species. It is by natural instinct to hoard against future deficiency. Capitalism is based upon this principle which institutionalizes an appetite for money and power utilizing as little labor as possible. In this procedure, basic ethics are sacrificed at the cost of those people born into less fortunate circumstances. Merely because other systems have not succeeded, it does not mean society should not critically examine capitalism and seek out other viable alternatives.
The short story Harrison Bergeron written by author Kurt Vonnegut was written as a criticism for the Marxist belief that members of society should strive for equality. He believed it was a dangerous o... ... middle of paper ... ...ome of the wealth from the richest people to the poor but it does not eliminate poverty as a whole. If there’s not enough wealth, distribution can be hampered. Instead of improving the living standards for all, it actually lowers the income of the richest to reduce the divide and fall close to income levels of the poorest. As it provides the poorest higher levels of income it discourages them from working hard (encourages incompetence).
The “laissez-faire” was not beneficial as it favoured the rich and exploited the poor. Thus, the unregulated markets could not prevent poverty and. However, John Maynard Keynes, an opponent of Adam Smith is situated on the left wing of the economic policy spectrum and disagrees with Adam Smith’s philosophies. John Maynard Keynes argues that government intervention is necessary for an economy to recover from a depression - it cannot recover by itself! The government has a progressive tax system, which ultimately prevented inflation.
However, the livable wage presents a dangerous precedent in social reform because it is an anti-business policy which is caused from limiting free market capitalism. The livable wage tells companies what they must pay their employees, and the costs of the mandated wages are often many times higher than the federal Mininum wage. This regulation is unnecessary and hurts American business which then hurts the economy as a whole. Instead of a social reform that goes against business, politicians should use reforms that do not have unintended costs on business like lowering the taxes of low income families. Instead of a social reform that goes against the American ethos of supporting business, a policy lowering taxes for would be more efficient in helping low income families.
The leaders that support corruption spend the countries’ wealth in a free and lavish lifestyle. These countries usually have strong currencies, which mean that the money isn’t worth what it seems. The countries impede other exports because resource extraction comes with no establishment of jobs, an increase in unemployment; and owned resources are priced unfairly. Aid is needed from international banks, and these banks come assist the poor countries when commodity prices are great and then leave when the countries are their lowest rankings. Moreover, these resource-rich countries usually make uneducated decisions including becoming involved in conspiracies.