`` Twenty First Century Capitalism ' : The Two Realms Of Capitalism

3107 WordsNov 6, 201413 Pages
In trying to understand the world that we live in today and where we are going in the future, as a nation, as a modern society, and as humans in general, we must look at the overarching structure or social order that created our present condition, capitalism. In order to understand capitalism, we must not only try to understand what capitalism really is, but realize that it is not solely composed of what is commonly connected with the term, economics. Rather, it is composed of varying social and political factors that make capitalism what it truly is. This view and analysis of capitalism is what Robert Heilbroner puts forth in his 1992 book, Twenty-First Century Capitalism, where he introduces the notion of the 'two realms of capitalism '. In the following essay, I will look at how Heilbroner defines capitalism, and what the author means by the 'two realms of capitalism ' explaining how these two are both beneficial and dysfunctional for society. After a thorough examination of what the author proposes in his analysis, I will then explain how and why I think capitalism has had a more positive effect on society, despite the flaws that can be found, and will be noted, in this system we live in. To begin, I want to first lay a groundwork for understanding capitalism. This system of capitalism that most of the western world adheres to is a most interesting phenomenon of how we have decided to organize our societies. As Heilbroner (2006) points out that it is remarkable how
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