Capitalism Vs Capitalism

“Workers of the world unite; you have nothing to lose but your chains” (Engels and Marx). Peter Georgescu, author and chairman of Young & Rubicam wrote the article “Capitalists, Arise”. Capitalism is a political system famously known for letting individuals own things such as businesses and property instead of the government. In his article, Georgescu tries to inform the readers about the widening wage gap. He also explores the idea that big businesses need to improve wages for workers so that the standard of living can improve for everyone in capitalist America. He does this through tone, diction, and rhetorical devices.

In the past the word Socialism or Socialist has been used with a negative connotation but recently with the rise of Senator Bernie Sander, Independent from Vermont, running for the Democratic Nomination for President of the United States of America, it has became a positive word that many people are finding themselves agreeing with and flocking to see a Socialist speak about economic and social problems facing our country. But there are still many people who believe in Capitalism and that it can still work in our country. Every other candidate for President is a “ Capitalist” and have used that to separate themselves from or attack Senator Sanders. But most people do no actually know what the political and economic meanings or dealings that come with either ideal. Our history books do not do a good job of showing the real effects of Socialism or Capitalism. Socialism is the best type of economic for various reasons. And historical examples of when Democratic Socialism has improved America.

Capitalism facilitates opportunity. This is the greatest gift the Free Enterprise System offers. The key reason capitalism works in tandem with the Free Enterprise System is because of the freedom from obstructive regulation that the system provides. With the lack of obstruction, opportunity is allowed to take hold and expand limited only by the drive of the people participating in the system. The drive or ambition that people have is the foundation for success in a capitalist society. Capitalism serves as motivation for people.

“The population of unemployed and underemployed explodes. There is a vicious circle here. Because so many seek work, wages are very low. Because one wage cannot support even a small family, more and more family members must seek employment. This move adds to the pool of labor and further depresses wages.” (Syracuse U. Press) Further, if wages begin to rise in one country, other countries seize the opportunity and lower their wages even further. With this cycle of falling wages and more and more people needing jobs, poverty increases drastically. With wages so low, the owners of these large companies get richer and richer—the vast majority of wealth in a country becomes concentrated in one small group of people. While this is good for those few, the vast majority of citizens are shorthanded. Capitalism is an excellent system for the elite and for increasing efficiency, but as far as providing for the needs of all of its citizens, it falls short. Thus, capitalism is a system that causes and perpetuates poverty, and exploits its lower class.

Individuals will remain enslaved so long as the bourgeoisie is in control. In a capitalist society, money enslaves man, and therefore man loses all character. Marx feels that, “Man becomes increasingly poor as a man; he has increasing need of money in order to take possession of the hostile being.”2 Because of the almighty dollar, individual character was lost and money was the only object that could fulfill personal greed. On the other hand, according to Marx and Engels’ theory of Communism, an individual will be able to remain a man because they will not be working for their own self-interests, rather each individual will be “converted into employees of the community, who would be […] rewarded according to their own performance.”3 Because all people would be employees of the community, they would no longer be able to further their own wealth through private enterprise. The state would then pay these employees according to their performance value of their occupation. By serving the community, corruption and greed will no longer run the lives of so many and individuals will be able to establish their own identity.

Capitalism and Communism economic philocaly are only talks about ownership of individual and collective property. In Capitalism the ownership of wealth concentrates in the hands of small group of aristocratic people while in Communism the ownership of wealth is in hands of statesmen and bureaucrats of the State. But, I believe that the wealth is created by god or nature. We human and living being are the tenant on the earth, I believe that the utility of natural and human resource is more important rather than ownership. In the concept of ownership, people tend to hold and accumulate the wealth and property hence the utility value of the property and wealth is lost. So that economic policy must on bases on the utility of human and natural resource not on the basis of ownership. .

Coming from an Americans perspective it is difficult to comprehend that anything other than democracy, a mixed system, and the way the United States operates would be suitable. However, this is exactly why I very much enjoyed this task. While at first I was reluctant to believe that there are any pros of either system due to the constant negative stereotypes linked with each system, I am now able to broaden my horizon and see things from a different perspective. After conducting some research I was able to see that there are indeed some benefits to both communism and capitalism. While I managed to see these pros, the cons were still very prevalent and prove just why a mixed system works best in the world we live in today. When it comes down to comparing the two systems though, based upon the information that I gathered, I would say that I prefer capitalism highly to communism.

The owners own the workers and the workers depend on the owners for their well-being; as a result, the owners only utilize the workers to gain wealth. And the working class in society is cheated from being financially stable. Capitalistic society see wealth as a privilege earned through education, hard work and dedication. Poor working class people are not afforded the same opportunities and upper-level society perceived them as lazy, uneducated, and unmotivated who are looking for a continued hand out to survive. Society perceive this class of people as havining a personality flaw. This capitalistic system is the power of wealth that keeps the working class struggling to make ends

Capitalism started up as a system of investing and sharing money in order to increase the value of resources in the future. Capitalism was just an economic system, but then soon turned into a complex system of ethical practices. Harari defines capitalism as, “a set of teachings about how people should behave, educate their children and even think” (Harari 314). This economic system evolved along with the people that were endorsing it. Capitalism enables the rich to get richer, while the poor continue to get poorer. There are many benefits to capitalism, but there are downfalls as well, and these downfalls tend to be masked because of the rapid speed capitalists grow at. Harari first presents a definition for capitalism, and soon goes into great detail on why capitalism, while fast paced and unforgiving, is able to stand unwavered while other productions fail.

Minority groups such as the lower class families and new arrivals do not have the luxury of deciding on a means of sustenance, so they tend to accept any job available for some sort of basic support. This idea supports the concept of “Macrosocial Dynamic”, that there are always individuals who are at the bottom of the class ladder, marginalized into working low paid jobs (Wacquant, 2000, p.110). However, the low income class is unable to rise to a better economic status because due to the fact that they do not have the necessary language and/or technical skills, they tend to be hired for the low skilled and heavy labor works that are low paid (Foner and Waldinger, 2012, p.19). According to the lecture, globalization has shaped inequalities into “hour glass” economy, which the top one percent is getting richer, while the

In 2013, the US’s financial wealth distribution was inconceivable. Over 80 % of the population ( lower and middle class) only accounted for 5% of the total wealth and the top 10% of the population accounts for 85% of the total wealth in the US. As the top 10% accumulates more and more wealth, the lower class will face more hardships and economic crisis. This was an ongoing trend in the Industrial Revolution as well. Every time the bourgeoisie would climb higher, they would lift themselves using the shoulders of the proletariat, “...a class of laborers, who live only so long as they find work, and who find work only so long as their labor increases capital”(Perry 197). Capitalism thrives on the exploitation of the people and free trade markets were usually accompanied by intense economic cycles of growth, which benefited the bourgeoisie, and even more crashes and recessions, which mainly affected the proletariat.(perry 197). The modern, average worker is struggling to survive with current wages while the wealthy grow their

Capitalism and Exploitation are two terms that people generally use together to make a point. Capitalism is a system in which a country’s trade and industry is controlled by private owners for profit. Exploitation is the actions of treating a person unfairly so that you could benefit from it. In the “Working Day” section from Capitalist, Marx explains what he means by exploitation and whether it is connected to capitalism. One of Marx’s arguments is capitalism cannot be separated from exploitation. I agree with that argument because in my eyes it is tough to consider one without the other. In this essay, I will explain what Marx mean when stating that and I will compare his arguments to John Locke’s. They both speak on some of the same

are not equal to the value of their labors. Their wages are kept down to the subsistent level in order to maintain profits for the capitalists.

Socialists are all about giving and sharing(“Socialism”). An example of socialism that most people use is this: If everyone combines their money together and divides it equally amongst one another, then it is fair. But after realizing that the person with one dollar receives ten dollars by doing nothing, and the person who has twenty dollars and now has ten, one would say that that it is unfair. It is the same thing with socialism and capitalism. The socialists have the mindset of sharing no matter what, and this is where most people disagree. The Bible says we are to give. Proverbs 28:27 says, “Those who give to the poor will lack nothing, but those who close their eyes to them receive many curses” (The Bible NIV). We are all called to give

The two dominant economic systems we have in the world today are socialism and capitalism. In this text, I will in addition to comparing and contrasting socialism and capitalism also discuss the shortcomings of these two economic systems. Further, amongst other things, I will highlight the overlaps between the two.