Capitalism And Capitalism In Society

The upper-upper class are those who come from old money, which is inherited from previous generations.This class compose less than 1% of the population, but possess a great deal of power, and influence society. The upper-lowers are those who come from “new money.” Most of these people a famous stars and are sometimes referred to as the “working rich” because they work for the money they earn. Although the upper-lowers may possess more money than the upper-uppers, they often find it difficult to be apart of the upper society.

The upper class makes up about one percent of the U.S. population, generally consists of those who have inherited wealth from their families, this is also known as old money.

The upper class makes up only 1 to 3% of the U.S. population, but holds more than 25% of the nation’s wealth ("Mobility, measured", 2014). The people in the upper class are considered to be the most prestigious, powerful, and wealthiest class. Prestige is the respect, recognition, or regard attached to social position (Kendall, p.229). People envy the upper class because of their great quantity or of money, valuable possessions, and property, known as wealth (Kendall, p.231). They live in exclusive neighborhoods, gather at expensive social clubs, and send their children to the finest schools. As might be expected, they also exercise a great deal of influence and power both nationally and globally. The members of the upper class have either inherited their money or worked hard to get to where they are (Francis, 2012).

The upper class is defined in our text book as “[a] social class broadly composed of the more affluent members of society, especially those who have inherited wealth, own businesses, or hold large numbers of stocks (shares)” (Giddens, Duneier and Appelbaum 207). These are individuals like Bill Gates that are superrich, but it can also include individuals that have a lot of influence in our society like the president or even popular celebrities (Giddens, Duneier and Appelbaum 207).

There are three common types of social class: lower class, middle class, and upper class. Lower class society is known as those suffering from poverty, unemployment, and homelessness. Also, they tend to lack education, medical care, food, and clothing. The middle class society are those who have an adequate amount of money to keep up with the economy but not as much as the upper class. The middle class society can range from small business owners and mangers to doctors and CEOs. The upper class society is the smallest part of society and are the wealthiest. They usually incur money from investments and business ventures, or passed down from past generations.

First, the upper class was the least studied of all classes; people from the upper class were mostly extremely wealthy and had numerous privileges unlike other classes (William, 2004:307). It consisted of the aristocrats, ruling families, titled people, and religious hierarchs. Those people had a fortune to be born with their high status and they did not have to make much effort to earn their place in society.

In a Capitalistic economic system, a country’s industry and trade are controlled by private owners instead of the state. It allows consumer’s choice in which goods and services are produced based on demand. A Capitalist system gives all its members a chance to become great business owners. No matter where you start in life or what your gender, race, and political views are; Capitalism gives everyone an opportunity to make it big. The United State’s economy became predominately capitalist by the 19th century after the death of Feudalism. The second half of the 19th century marks the fastest economic growth in American history. There was a rapid rise of production, wages, and personal health. By the 20th century America became a thriving superpower whose industrial and manufacturing economy even rivaled those of the European great powers. America’s economic growth and innovation was facilitated by capitalism, which allows you to keep the fruits of your hard labor. In contrast, a socialistic economic system seeks to redistribute the wealth more equitably by social ownership of industries and natural resources. Socialist believe in nationalizing monopolies; however, small, nonessential businesses would remain privately owned. The direct control and management of the industries and social services will be by the workers through a democratic government. In a socialist system everyone equally shares the workload, everyone is given the same benefits and prospers equally. Therefore,

Philosophies are ideologies and beliefs with the power to change the entire world. The clashing of philosophies has been the cause of war and debate from millennia to millennia. The great rivalry between a Capitalist west and an increasingly Communist east lead the world into the Cold war, all because of this clashing of ideologies. Although Capitalism and Communism are large scale economic ideologies, smaller scale and more personal philosophies alike have these same conflicting relationships. Within the Roman Empire, a profound rivalry existed between the two philosophies Stoicism, a firm philosophy with very noble goals and Epicureanism, a philosophy which aims to achieve pleasure and happiness in life. This intense rivalry even found its

Capitalism, an economic system in which most of the country’s trade and industry is controlled and owned by the private sector of the economy rather than the state , has encouraged businesses to compete in a more efficient manner. Businesses try to introduce new ideas and apply unique business models to distinguish their products and business methods from that of their competitors. One such unique business model is the One for One model.

As in today capitalism remains the dominant economic system in the world. Supporters of capitalism argue that it provides every individual the right to own property, along with economic growth, as long as government stays away from the free market. Over the course of history, multiple philosophers have been fascinated by the concept of a capitalist society. Many of them have written several theories of capitalism; ways in which it could be understood and improved. Post World War II, capitalism in America had a huge positive output in our society. Despite, the turbulent years of the Great Depression, capitalism was able to thrive. In order to understand capitalism during this time period, many economists looked at the ideas of classical economists,

Social Class distributes civilization into two central groupings, Upper Class and Lower Class. Upper Class encompasses the social group that has the uppermost status in society, with higher salary and supremacy in the community. Lower Class is branded by low income,

Capitalism has been generally criticized from many perspectives throughout its history. Criticism ranges from individuals who completely disagree with the preliminary principles of capitalism to those who disagree with particular cases with outcomes of capitalism. Some propose that capitalism can be transformed or replaced with an alternative method of social organization and means of production. There is a distinct division between those who believe capitalism will eventually collapse and a more effective social system will take place instead (ex: socialism, democracy) and those who believe capitalism can be overthrown with revolution through the focus on the working class. One noteworthy philosopher, who argues from different perspectives on capitalism and its impact on social human history, is Karl Marx. In The German Ideology, Marx contends that the function of ideology is to serve as the framework of a civilization. The ideology is based on the ideas, resolutions, and cultures which make up the majority of society. In any given period of history, the ideology of the people is constantly evolving and can be uncovered by the human nature of production. This mode of production includes the source of production and the relations of production by means of societal structures.

Since Vladimir Lenin was a Marxist and socialist he was opposed to global capitalism, and his book of Imperialism: The Highest Stage of Capitalism points out some of his main arguments regarding the capitalism as a whole. He regarded World War 1 as an imperialist war, caused by pressures that arose from an immediate development of several European empires. The central nations of capitalism participated to expand their exploitative sphere, which led to the conflict of interests and eventually produced the Great War . Although in Imperialism: The Highest Stage of Capitalism, Lenin characterized capitalism as a source of gaining the great profit, a closer reading of his narrative suggest that capitalism leads to a class exploitation by maximization of power, and total control of the economic system.

Studying capitalism is an already difficult subject to focus on by itself. However, what makes this subject more complex is looking at it through a historical approach. Nevertheless, it is important to study historical materialism in order to fully understand contemporary social structures. The modes of production, as well as class relations, tie together as they are both important in what Engels was trying to discuss in his paper. He also discusses the alienation of individuals as well as supply and demand of the market. This paper focuses on Friedrich Engels paper titled Anti-Dühring while specifically focusing on the chapter named “Theoretical” that discusses historical materialism and contradictions in capitalism. In this paper, it will be established what Engels means when he speaks of historical materialism as well as manage to explain the fundamental contradiction in capitalism and examples of such contradictions.

Time. It is like an ever-rolling stream. Flowing continuously, time makes a permanent recording of history, what exactly happened. Despite how much historians consider and dispute certain events, one idea is prominent. Humans never learn. No matter the culture, no matter the race, no matter the background, humans neglect the opportunity to be omnipotent. If they could just look through the bifocals of modern-day knowledge and observe their own mistakes and learn from them. No matter how many preceding devastations, the same mistake happens only a few decades later. The recession of 2008 is a great example. In 2008, the housing bubble crashed because the banks were allowing mortgagees to buy homes on credit, therefore causing the housing bubble to crash because people could not pay back these mortgages (Rickards, 2008). A similar mishap occurred, causing the Great Depression. The banks did not have the means to back the money of all deposits, when the time came for people to draw out their money, the banks couldn’t return their money (Croft, 2017). They had taken the people’s money and depended on their own credit. With that example of historical negligence in mind, American cannot allow. History has shown that socialism is the disgusting opposite of capitalism. Their similarities next to none, socialism defined as equal reward for unequal work, while capitalism encourages equal opportunity for all to achieve whatever goal they desire. North Korean people lack the ability