THE POOR NEED CAPITALISM

The Poor Need Capitalism

The Poor Need Capitalism

Introduction

The development of capitalism as a system dates from 16th century. Capitalism is the system in which we are living today. We can say that most of the time in world's history, capitalism is the practice of most of the systems.

In a Capitalist society, a group, usually known as Elite class, owns the major market share. In other words, big businesses are held at few hands. A worker, who has the ability to be the part of that business works there as an employee, who share his ability to work in return of wages he gets. The business can be any. It could be the industries, the ownership of land etc. It is the investment of money in expectation of having a profit or a huge profit by having some risk. The global economy has expanded dramatically since the end of the cold war.(Seldon,2004)

In some types of capitalism, government regulates policies, such as issuance of money, controlling public utilities & imposing private agreements. Many countries have competition rules that forbid monopolies. Firms usually drop their prices to prevent competition they are going to have after entering the market, and then raise them again when needed. In many countries, things like utilities are government owned. (Bain,2003)

Discussion

The 20th century has made exceptional aid to technology, but is terrible for morality & ethics. The world is small now, continents can be contacted & reached in seconds and hours; we have created unmatched wealth & flooded our markets with an unbelievable collection of goods; we have established democracies in all the countries & boomed our commitments to human rights globally. Yet, the huge mass of humanity is leftover and trapped in poverty: mumbling, browbeaten& powerless to sway their destinies. Our social organization goes against our scientific ...