Capitalism And Income Inequality

Capitalism, according to the Merriam-Webster dictionary, is “an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.” A part of America’s society for decades, it has been a poison of corruption in our government. Our capitalist government is failing us and we see it in our education system, environment, and wars.

Capitalism is a social system based on the principle of individual rights. Politically, it is the system of laissez-faire (freedom). Legally it is a system of objective laws (rule of law as opposed to rule of man). Economically, when such freedom is applied to the sphere of production its result is the free-market. Capitalism might not be a perfect system, but it is not that evil. There is evidence proven that capitalism has helped the U.S. become the wealthiest nation. The primary concept of capitalism is totally devoted to the creation

Capitalism is basically the form of society we have in America. Capitalism is where there is a collection of individual businesses that are individually owned with little influence by the government. These businesses are set up by three things human skill, human manpower, and resources.

According to the OECD, the term inequality in the opposite of equity can be defined as evenness

I find capitalism to be very beneficial; however, for the rich to remain successful they need a healthy economy. And, to keep the economy a “virtuous cycle” we need a large number of consumers (A.K.A. a large middle class). However, the economy needs to find the balance between democracy and capitalism, because financial inequality is the incentive for getting a higher level of education. We need to make a financial plan that puts the wellbeing of people over less important things like infrastructure, the military, scientific advancements,

Economic and income equality have risen significantly in the United States over the years. In 2013, the top 1% accounted for roughly 20% of America’s income, before taxes. According to the Congressional Budget Office, the average income of the top 1% of America’s population has “grown by 275 percent between 1979 and 2007,” even after taxes. In stark contrast, the middle class has experienced growth of about 40 to 60% and the lowest income population has only experienced growth of about 18%. This resulted in the richest households nearly tripling their share of the country’s income while the majority struggled to keep up.

When one thinks of Capitalism, the first country that comes to mind is the United States of America. (“US”) In fact, the concept of Capitalism is so intertwined with the US’s culture and government that it is part of its strategy of “exporting democracy” to other countries. A classic example was the administration of Ronald Regan. During President Ronald Reagan’s two terms in the 1980’s, he began a policy of deregulation, tax reductions and increased defense spending that helped to accelerate the collapse of the Soviet Union and effectively ended the Cold War. Since then, traditionally Communist countries such as Russia and China have adopted Capitalistic policies as well.

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

A capitalist economy is one that is centered on making profits. Usually, capitalist economies have been seen to give little consideration to the common good of its citizens. The sole purpose for the functioning of such an economy is to make profits through industrialization and globalization. Every move capitalist economy makes must be associated with economic benefits. In such a country, the citizens thrive on small businesses since opportunities are often created. The accumulation of wealth is a means with no ends since the rich continue become more affluent. Capitalist countries grow richer as opposed to poor countries. Countries like the USA and Germany come to mind the most capitalist countries in the world. In the USA, the bulk of the labor force emanates from immigrants who go to the country to make a living. Since the 1950s, the USA has welcomed guest workers who mostly are of Mexican descent (Schuck & Wilson, 2008). After the economic depression caused by the Second World War, industrialization was the only consolation left for the USA. The industrialization process resulted in the embrace of capitalism, which led to the free laws on immigration.

Capitalism stresses private economic decisions. People are free to decide how they will earn and spend their income. Companies may choose which goods and services to produce and how much to charge for them. They also compete with one another to sell products. Nations whose economies are based on capitalism include the United

In a word, Greed… from oil to roses, and water, and who knows what else, not to mention atrocities from slavery. Capitalism is based on “free enterprise” and individual rights. This statement is misleading and suggests that capitalism is economically and socially progressive. However, it benefits the selfish interests of a few, and hurts the interests of everyone else. Capitalism encourages corruption, economic disparity, individualism, hyper-competitiveness, and consumerism.

By definition, Capitalism is an economic system controlled chiefly by individuals and private companies instead of by the government. In this system, individuals and companies own and direct most of the resources used to produce goods and services, including land and other natural resources labor, and “capital”. “Capital” includes factories and equipment and sometimes the money used in businesses (Friedman, 5).

There are currently over 80 capitalistic countries in the world including the United States, Canada, Australia, United Kingdom, and Germany. A capitalistic country is an economic system in which individuals, rather than governments, control the factors

Capitalism is an economic system in which industry, trade and factor and means of production are controlled by private investors or owners with an aim of making profit in a market economy. It affects the rate of capital accumulation, labor wage and the control of competitive market. This usually affects the economy of different societies since the government has no control over the economy. The forces of capitalism greatly affect the societies in that the poor continues to be poorer while the reach society continues to accumulate wealthy and become richer. It widens the income disparity gap. It influences both the economic aspect and social aspect of the societies largely. This mainly is influenced by the forces that

Capitalism is when the rich gets richer and the poor gets poorer. Capitalism has mercy on no one. Each individual lives in a society where the mass crowd complain about how the big business are buying the smaller ones but just doesn’t grasp the idea that all this is happening because of the consumers themselves. Within a system just as there is pros there are also cons, cons that are costly in the end. One of the biggest cons that capitalism promote is wealth inequality. Wealth can be inherited, so some people can be rich just due to luck of their ancestors. The others that are not so lucky has to work hard for their earnings. So this becomes a problem because not only does it promotes wealth inequality, it also promotes inequality of opportunity. Capitalist societies are failing to create both equality of outcomes and equality of opportunities. Example of this is the Great depression which lasted from 1929 to the beginning of World War II, profoundly shook the world’s confidence in the capitalist system. The crisis began with the crash of the New York stock market and resulted in widespread economic damage throughout the world, including bank failures, massive unemployment, and bankruptcies. According to the article Capitalism it states, “In addition, the suffering that resulted from the Great Depression highlighted the vulnerability of the labor force. In the United States, 25 percent of workers lost their jobs, and bank failures wiped out many people’s life savings.”