Capitalism In The United States

Dr. Martian Luther King Jr. once said, “And one day we must ask that question, ‘Why are there forty million poor people in America?’ and when you begin to ask that question, you are raising questions about the economic system, and a broader system of wealth. When you ask that question, you begin to question the capitalist economy.” In other words that the capitalist economy is the reason why there are so many poor people, and the people who are struggling to get by not knowing if they are going to have a home next month or not. Since we have this class system it puts people in that state of mind where they become a slave just to work as hard, and never make it to where they want to be in life. Furthermore

Between the years of 1993 to 2001 there was a great amount of economic policies put into place by William Jefferson Clinton, universally known as Bill, which are now commonly known as Clintonomics. Clinton, the 42nd president of The United States of America, took office after a recession due to unemployment and the savings and loans crisis. The goal of these economic policies is to lower unemployment rates, increase wages and to increase tax rates. Clinton accepted office taking after the last part of a retreat, and the economic practices he put into action are held up by his supporters as having cultivated a recuperation and overflow, however a portion of the president 's faultfinders stayed more wary of the cause-impact result instead of looking at his success. He was successful in doing all of these goals. He was even successful in the increase of African American workers. And many predicted that the decline of capitalism which would cause a large damage in the economy but they were shown wrong when Clinton’s policies caused a boom in the stock market. They started out their process to better the economy under a risky stock market. Clintonomics incorporated both an arrangement of financial approach objectives and in addition a general representation theory. Specifically

In today’s capitalistic society, “liberal” and “conservative” are common terms we use to classify a political party, candidate, or even ourselves. But what does this mean? Choosing to identify as a liberal or conservative has a lot to do with what one believes is the appropriate level of government intervention in terms of the economy. Liberals believe it is the duty of the government to act to ensure economic equality and to guarantee that all are provided for. A liberal economy is one in which the market system functions best with government regulation, and the government must protect the economy from monopolies and the greed of big corporations. On the other hand, in terms of economics, conservatives believe in individual responsibility, limited government intervention, personal liberty, and free markets. The free market system breeds competitive capitalism and private enterprise, believing it provides the opportunity for the highest standards of living for all. A central question within regards to international political economy today focuses on the role of government in economic activity – to what extent should government play a role in economic activity? Adam Smith and John Maynard Keynes are economists in history whose theories are central to the understanding of how the economy works, and how government works within a

Kathryn Edin’s newly published book did not shock its readers; $2 a Day revealed economic exploitation and poverty in the United States. Edin’s publication, comprised of two decades of quantitative research and analysis, declared 1.5 million household incomes financially support $2 per person, per day (Edin). America, the land of prosperity and opportunity, lost its appeal as it plunged into financial crises and economic instability: the root cause being income inequality. The application of capitalism directly causes income inequality, therefore forcing the American people to face dire consequences; however, its counterpart, socialism, does not provide the necessary framework to lessen economic gaps and create a stable economy.

The United States’ economy is still recovering from the shaking of the great recession that happened in 2008. We are experiencing an income inequality problem in this country and I don’t believe that it is the causes of the middle class or the poor in this country. I believe that there is a small amount of people who are currently in control of the majority of the wealth on this earth. They are an exclusive percentage and they often have the majority of the people fighting against each other not realizing that we as a people shouldn’t be fighting against each other because we are all in this together.

It is not just the arbitrary concepts of capitalism which have a tendency to expand, under the Marxist understanding of the state, capitalist states will make foreign policy decisions for the benefit of global capitalism. The increased intervention by western states in the Marxist view is about the sole purpose of the expansion of capitalism in the search of profit for the companies, using the state as a mobiliser for action towards such an end. Mark Rupert brought forward a case study of such “imperialism” in action, in the case of the US. Global capitalist activities require huge amounts of energy, and the cheapest or most efficient form is petroleum. Despite not being a democracy and not practising equality, or respecting human rights, all core values to the US, Saudi Arabia remains one of the US’s closest allies. If the actions of the US abroad primarily concerned democracy promotion, human rights and core liberal values, this alliance does not make sense, but when you use a Marxist lens, and consider that alliances are about capitalism, you quickly understand why Saudi Arabia, a large producer of oil is a huge geopolitical ally of the US. This also applies to explaining enemies, for example Cuba and Qaddafi’s Libya. Cuba on the one hand is one of the few countries which still ideologically rejects capitalism as a form of organising society, which has resulted in a ban on all trade with Cuba. Alternatively, Qaddafi, who was the leader of an oil rich Libya for many years

It is often said that history is written by the victor. Growing up, we have been indoctrinated that the United States and capitalism are the moral choices in the perceptions of government. These views of our history are rooted in our countries past, and since we learn from our pasts, we carry forward a view of the United States moral dominance in world affairs. Yet during the cold war, the United States was not the only country portrayed as the moral center of the world. After the end of World War Two, the Soviet Union and the United States fought a war of words, the Cold War, for supremacy and world influence. The tones of these arguments were that both sides and their opposing forms of government were the pinnacle of moral standing. This war of words extended to the battlefield as third world nations, seeking freedom from their colonial oppressors who were torn apart by allegiance to either the Communist system of the Soviet Union or the Capitalist system of the United States. It was the Soviet Union and the United States that waged the war of idealism, chastising each other’s moral vacancy, while members of smaller countries, such as Vietnam, turned to both the powers as a means of improving their own lives while caring little for the verbiage of the battling superpowers.

In Capitalism: A Love Story- Michael Moore sheds light on the capitalist system that has caused much of society’s problems. This documentary emphasizes how the capitalist system has benefited only the top one percent by further concentrating their wealth at the expense of the working class. In order to explain how the capitalist system operates, Moore examines how politicians are bought by corporations, homes are repossessed, and how families are exploited by peasant’s insurance and private ‘for-profit’ prisons. The documentary begins with Moore explaining the decline of the Roman empire.

Capitalism is an economic system that is based on efficiency and recognizing individual rights. Many countries such as the United States, England, and Canada have capitalist economies. These countries produce goods based on consumer demands in the most efficient way possible. They also only produce goods for those who can afford them. As stated by the University of North Carolina, “Capitalism is an economic system in which market forces determine what is produced (supply will meet demand), goods will be produced at the lowest possible cost and only those who are willing (and able) to pay the “market price” will gain access to society’s goods.”

There are 5 different type of capitalism: turbo capitalism, crony capitalism, state capitalism, responsible capitalism, and advanced capitalism. Turbo Capitalism is an unregulated form with financial deregulation and lower taxes. Crony Capitalism refer to the situation where business success is related to strategic influences with civil servants, politicians and those in authority. State Capitalism is a mostly capitalist economy with a strong political control. Responsible Capitalism is capitalism with regulation and social welfare net. Advanced Capitalism consists of a stable economy with high living standards.

Capitalism is not a rigid, inflexible economic and political system—there are many forms of capitalism around the world. It is illustrated as being different variations of capitalism outside the United States; there is the Dutch version, the French version, the British version, as well as the American version. American capitalism implements free-market ideology and that makes the U.S. stand out among other nations. Other nations do not dwell on privatization and deregulation nearly as much as the U.S., which is both a major strength and critique of American capitalism. One critique of American capitalism is the Five Internal Contradiction of Capitalism. These contradictions include inevitable growth of monopolies, demand labor saving technology and policies, issues of over and under production, increases in economic inequality, and convergence of economic and political power. This economic system creates detrimental social issues among the population. With economic policy being in the best interest of big corporations, the wealth accumulates and stays at the top. The bottom income group suffers the most as there is less wealth available for them and they are forced to endure strive and pain just to survive another day. In the example of The Myth of the Welfare Queen, two Philadelphia “welfare mothers” reveal to the world their personal hardships and the extent to which they will go to support their families. The increasing rate of class inequality created by American

Capitalism has never been dead and will be here for at least the next century. In a world where the market is filled with imperfections, it is in order for the government to interfere to restore order in the market. Increased concerns over the 2008 market collapse prompted the government’s to take charge of their responsibility and act. Capitalism is a system of government that favours individual growth with minimal government interference. The opposite of capitalism is communism, where the property owner is the state, and the main aim is social welfare enhancement. A mixed economy embraces the two and balances between the extremes. Many countries across the globe have adopted a mixed economy as it reduces the losses

Living in a capitalistic society, we are constantly bombarded with the notion of buying from large brand named corporations in order to save money. But I bring up the question, is this really helping you and your family in the end, or the billionaires living at the top? Large corporations allow for small businesses to essentially diminish before our very eyes. While buying from stores such as Walmart, Target, and Home Depot, you are stripping away business production that can be done here on American soil. As our economy is depleting itself and we extend ourselves higher into debt, the only people we have to blame are the consumers. By buying from local produce stands and farmers markets, we cut the cost of travel time and the resources needed to get to the store. Buying local can also bring money into the community while the food is healthier and fresher for the family to enjoy.

Poverty is a chronic condition which is deep-rooted in America, despite it being one of the wealthiest countries in the world. Currently, many people still fall below the poverty line; “as of 2014, 14.9 percent of Americans or almost 47 million people fell below this line; the rate for children even higher” (US Department of Commerce). “Individuals or families are considered “poor” if their annual pretax cash income falls below a dollar amount, or poverty threshold that is recalculated each year. This is simply the estimated minimum level of income needed to secure the necessities of life” (Institute for Research on Poverty) and due to a variety of factors. In comparison to other developed countries, America’s market system puts a heavier emphasis on stimulating economic growth rather than ensuring income equality or collective well-being. From an economic standpoint, although America has a mixed system of capitalist and free market, it is still organized such that a small elite control most of the capital used to produce wealth, leaving the majority of the population to fight over the latter. Even middle classmen worry about the possibility of falling into poverty as companies continue to lay off workers in favor of cheaper labor or decrease wages in an effort to increase its’ competitive advantage as increasingly high values are put on competition and efficiency. With a

Capitalism is a powerful institution with holds on the economy, political state and family as well. The payment of wages allows the corporations to grow and continue to produce goods and exploit workers. (Bailey, 1974:127)Families consume. In the modern era, most families are not units of production and consumption, mainly just consumption. They do not accumulate wealth, but simply take the wage and spend it on commodities that satisfy their needs. As Karl Marx put