Title Page

 

Capitalism’s effect on society: Consumerism

 

Capitalism’s effect on economics: Income Disparities

 

Capitalism’s effect on politics: Corruption

 

The Future

 

Sources

 

Contact

 

american flag jail

"The fuction of government is to represent the middle income and working people rather than just the wealthy and the powerful. [We have come to] worship greed."

-Representative Bernard Sanders


ism

Definition and Origin:

Capitalism is defined as an economic system characterized by private or corporate ownership of capital goods; by investments that are determined by private decision; and by prices, production, and the distribution of goods that are determined mainly by competition in a free market.

Adam Smith is often referred to as the “Father of Capitalism.” He described a system in which an “invisible hand” would maintain the market without government intervention. The government exists merely to protect individual rights, which according to Smith, also include the establishment of an "army to protect against foreign invaders; a police force to protect against domestic criminals; and a court system to settle disputes that arise, enforce contracts, and punish criminals according to objectively predefined laws."

 

Objections to American Capitalism:


no capitalismCapitalism is based on “free enterprise” and individual rights. This misleadingly suggests that capitalism is economically and socially progressive. However, it rather “benefits the selfish interests of a few, the privileged elites of the developed world, and damages the interests of everyone else. This is basically because, following Marx’s theory if surplus value, when a capitalist makes a profit, they are essentially stealing value which is produced by labor.”


“Capitalism discourages local production and encourages unregulated growth of gigantic cooperation that exploit local labor for profits elsewhere.” This is justified by the fact that crimecapitalism undergirds “the freedom to act as an absolute by right” and the “credo of the rational egoist who recognizes no authority higher than his own judgment of the truth.” Such a theory provides a scapegoat for people who harm others in the pursuit of self-interests. According to capitalist, violating one’s rights for the “public good” is contradictory since that individual is a member of the public, too. Based on this individualistic mentality, capitalists are able to vindicate themselves from the immorality of inequality. It allows them to be free of conscious despite that they live in a country where 23.5% of the country's total income is made by the top 1% of Americans.


Capitalism purports that it is a system that promotes “free will;” however, the economic disparity that capitalism evokes diminishes the possibility for social mobility, thereby constricting people to not only certain classes, but also to certain environments and opportunities. Capitalists will refute that the poor are disadvantaged and unable to gain any wealth because they have none to begin with, and attest to that fact that rather those who are poor are not opportunistic or capitalist corruptionmotivated. Capitalists often affirm, or at least suggest, that those who are poor are so willingly because the “free enterprise” system of capitalism is constructed so that anyone, with hard work, can gain wealth.

Capitalists espouse supply-side economics, otherwise known as the “trickle-down economics,” in which providing tax cuts and other benefits to businesses indirectly helps the rest of the population by incerasing investments in infrastructure and markets. However, this translates in to tax cuts on capital gains, corporate income, and high individual income taxes, thereby exclusively benefitting the wealthy.

Capitalism encourages corruption, economic disparity, individualism, hyper-competitiveness, and consumerism. This wensite is an objection to the viability of an effective capitalist governance, with focus on its political, economical, and societal effects.

.....facts

Back to Top