In: Economics
this is my essay
Capitalism is one of the most universally loved and hated system. I agree with the three points the author pointed out to show the good facts about free-market capitalism. There was always a big conflict between capitalism and socialism. Many people think that capitalism is the most important factor for economic growth and development, and many people think that capitalism is the cause of social suffering. the confrontation between capitalism and socialism seemed to be a zero-sum conflict in which one side made a profit at the expense of the other Over time, many disputes and conflict suppression brought about Anarcho capitalism, benevolent capitalism, Clony capitalism and free-market capitalism. My conclusion: The best way to deal with the conflict between capitalism and socialism was given by Mohandas Column Shandhi about 100 years ago.he described in Swaraj the underlying theory behind the book that first develops the poorest part of the country with education and enough employment and then from the poor to the poor But most of the theories of capitalism are tested first on capital, resulting in social imbalances. poor people tend to move to the capital for a better future and engage in exploitation.
this essay questioned by professor saying that "But most of the theories of capitalism are tested first on capital, resulting in social imbalances. poor people tend to move to the capital for a better future and engage in exploitation." Please explain.
Capitalism is a market structure market forces (demand and supply) determines price and quantity of the products in an economy.Capitalist economy always aims to profit making rather than social welfare.Economic efficiency will be high in capitalist economy.Consumer had more freedom of choice and this will lead to supremacy of consumer.At the same time economic inequality is high in capitalist economy.Rich gets richer and poor remains poor.For acquiring profit firms ignoring welfare of the employees and it creates exploitation in workplace.Power plays a vital role in capitalist economy.
Most of the theories of capitalism are tested first in capital. Das capital of Karl Marx also considered capital as the key point to evaluate capitalist system.According to Marx capitalism itself destroys economy.Social imbalance is high in capitalist economy.Without government intervention an economy can't survive more.Poor people attract capitalism for economic efficiency.But actually capital system exploiting workforce in different types.Any how we can conclude that capital has some drawbacks.A country should be work for economic and social balance rather than exploitation and social imbalance.