Disadvantages Of Capitalism

1594 WordsOct 7, 20177 Pages
A concept is a thought or idea that is conceived and sometimes put into action. The concept of capitalism is a very important concept to the United States and many other countries whose citizens value freedom and independency. Capitalism has many different aspects to it. First, capitalism is a social system. The trade and industry of a capitalist country is based off of private owners and not the government. Capitalism is centered around the rights of the individuals. It allows the individual to make his or her own decisions. Capitalism is usually open to new ideas, new firms, and new owners. This is why capitalism is favored by so many countries and governments around the world. Capitalism allows the individuals to be expressive and…show more content…
An extremely good quality about capitalism is that it brings about economic freedom. Any individual can purchase whatever goods or services he or she wants, granted he or she has enough purchasing power, or money, to obtain it. Having economic freedom allows individuals to purchase and own property. This right to own property allows many other freedoms. Congregations own churches, which allows religious freedom. Freedom of the press is protected by newspapers owning printing presses. Families have financial well-being and protection by owning a home. Properties owned by businesses allow for the production of goods and services to trade. All these freedoms are very important to a government who wants the happiness and well-being of its people. Economic freedom brings about political freedom. Without political freedom, the government of a specific area would have way too much power. If a government is able to own the means of production and set the prices of goods and services, it leads to a very powerful state. This essentially creates a large bureaucracy where the government makes many decisions. This leads to less freedom of the individual. Political freedom is necessary because it brings individuals rights such as the right to vote, which allows individuals to decide who their representatives or rulers should be. Having representatives allow the thoughts and ideas of the majority
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