Capitalism Is The Most Influential Economic And Political System Essay

2012 WordsNov 11, 20169 Pages
Capitalism is the most influential economic and political system in the world today as it has had a large effect on some of the defining aspects of the world, from abolishing feudal rule as “feudal rulers were continually forced to turn for loans to their resident burghers… by the way the leaders stood this was completely incompatible with feudal rule”. (Heilbroner, 1992, p. 34) And introducing an early version of economic freedom referred to as the society of perfect liberty by Adam Smith. Capitalism, however is a topic of controversy, and has had many critics in the past and will most likely have criticism in the future, debating its effects on society. In the text Twenty-First Century Capitalism, Robert Heilbroner addresses this and speaks about how capitalism serves as a guide for the actions of both the private and public sectors of life, Robert Heilbroner refers to these as the two realms of capitalism in the text, and argues that they are beneficial but at the same time dysfunctional for society. By looking at the relationship between political and economic spheres of capitalism there are clear positive and negative effects on society, but by analysing capitalism’s ability to change, free market systems and the revolutionary changes it has brought to the workplace, it is clear to see that capitalism 's effects on society have been a positive one. Capitalism has also played a role in the separation of the economic sector from the control of the state, which is key to
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