Question

• Why are some people anti-capitalist? What are some negative stereotypes associated with capitalism? Give some examples.

Answer 1

Capitalism allows the ownership of factories,firms, malls, showrooms, schools, colleges etc. by one person. Due to this reason of capitalism some countries have billionaires and millionaires which helped in achieving economic growth and touching some heights. In past time if capitalism would have dissolved many countries would not have grown at the same pace at they have grew. The reason being some people are anti capitalist because it promotes unequal distribution of income among people. Anti capitalist majorly promotes socialism which says that income should be distributed among people equally or those who are poor should be given subsidies. The reasons being people associated with anti capitalist are:

• Economy does not operates at the full level as resources in the economy are not well distributed among people. Rich people have more access to resources.
• There is partiality between people in an democratic country.
• People who are poor faces negative externalities caused by rich capitalist running many factories which extracts pollution.
• Creating monopoly of some firms in the market.