Assignment Help on Topic: Capitalism Benefits Everybody
In general capitalism is not a single concept, rather it is mostly used to refer different stages of political and economic organization. Capitalism can be described as a social system that is primarily based on the recognition of individual rights, along with property rights that are privately owned. According to Shiller, 2012 capitalism is a complex invention that keeps changing all the time, at the same time being as capitalist we have to constantly innovate and keep up with the times.
From the perspective of the supporters of ‘free market’ capitalism make the claim that their system does not only benefit everyone but more specifically the working class people. In order to be able to do proper analysis if capitalism benefits everyone, the key problem in the process of evaluating such claims would be mainly the fact that an economy, of a society is a very complex system that mainly evolves through time (Locke. E, 2007). In order to be able to properly analyze such claims must be based on the looking at different countries during different periods.
In any capitalist society no individual is allowed to use physical force against others, where the main task of the government is to protect man’s rights. Leo. N, states that capitalism has able to create a level of comfort which was never experienced before by our ancestors, in todays society we are no longer can be termed as a society of hunters and gatherers, spending most of our time looking for something good to eat (Leo. N, 2009). In general capitalism has made the production, manufacturing and distribution of overall wealth easy and with the help of globalization it is benefiting everyone, everywhere. At the same time, capitalism has taken care of the overall physiological, safety and esteem needs of the society, it is due to the capitalism that it has given us the ability, time and energy to be able to work towards our passion, personal goals and pursue or own careers.
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However this overall appeal to reality will not convince many supporters of capitalism, for those who are true believer in the capitalism, such evidence does not create doubts in their ideas (Leo. N, 2009). Profit under capitalism is generally considered as net production, where one produce more output as compare to the cost of inputs. Capitalism can be considered as exploitation, where one cannot force another man to work for him without his willingness to work for him. At the same time capitalism doesn’t require anyone to work for public good, this is true and this is precisely why capitalism can be considered as morally good, according to Locke. E, man is not a slave of the society, yet he has the right to work towards his own happiness.
Another argument is that capitalism works best perfectly with the human nature, or to be more precise, with greed. Greed causes competition, which in a positive aspect can be considered as an essential part of advancing the human race (Leo. N, 2009), which is essential in this rapidly growing economy. At the same time, capitalism does allow the economy to grow exponentially, one basic example, the more money a firm makes the more it can invest in production, which will further return in more profits. However in the industrial era, when production passed demand, there came the need to reach waiting markets elsewhere, in simple words, capitalism enables freedom of expression mainly because of the reason that money can be made with the help of an internet connection (Leo. N, 2009). In order to be successful, capitalists needs to make profits, in order to do so capitalists need to cut wages to capture the market.
Capitalism is generally considered as local, not global, and it mainly cares about the local people of that community and their jobs. For example we can consider an example of capitalism of Kickstarter, where few people from the society fund the music, books, and products that they can watch develop over a period of time. However in this exemplary, consumer, investor, fan and producer are combined to gather for the same purpose. At the same time people living in the same society find and prepare their food the same way they find and prepare their music, and then they share it with others on the regular basis proving the fact that capitalism is above all, a maker system of economics based on creating new value for the people living in the society.
In many views, capitalism doesn’t make sense unless otherwise, it offers a generous basis for it, on one hand people like others who are nice to them and they behave the same way towards them, whereas on the other hand people can be vengeful and can hurt others who they perceive as harmful, for this reason it is important to have a caring society, it can only be meshed with capitalism if it is designed in such a way that encourages mutuality (Shiller. R, 2012). To be able to achieve, our financial system of capitalism is an invention that has to be updated on the regular basis in accordance to our understanding of human behavior.
Over time, wealth will “trickle down” from the wealthy to the many.
Shiller. R, 2012, ‘Capitalism and Financial Innovation’, Vol 69, num 1.
Locke. E, 2007, ‘What is capitalism? Some comments on Kasser, Cohn, Kanner and Ryan’, University of Maryland.
Leo. N, 2009, ‘A few good things about Capitalism’, viewed on 14th March, 2013 < http://con.ca/article/801>