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  • Essay / Capitalism: good or bad? - 1868

    INTRODUCTION: Along with the progress and development of society, capitalism is acquired by many countries around the world. But in the meantime, a growing number of issues are being brought to our attention, among them the pros and cons of capitalism. As to whether this is a blessing or a curse, people take different attitudes. Capitalism dates back to the Middle Ages in Europe and this economic system has contributed to the entire human race for centuries. However, people are paying more and more attention to what capitalism is actually doing to us and are starting to wonder if another world is possible. My article will focus on the question “Is capitalism good or bad” and discuss different views on it. Capitalism is currently one of the two main economic systems operating in the world. In my interpretation, its foundations are privatization and individualism. That is, capital is privately owned, profit from production is also privatized, and society exists more on the basis of individuals than groups. From an economic perspective, we recognize without doubt that capitalism is achieving great progress and great wealth. As an example, the United States, the most powerful country of our time, is a typical capitalist country. But we also cannot deny that this system poses a problem and that little by little, they are becoming increasingly worried about it. This is why this controversial issue is often brought to public attention. The question is: is it really good to retain capitalism or is it bad to replace it? There has always been a debate these days on the topic of capitalism. Those who favor capitalism claim that it brings us more good than harm. But those who criticize capitalism, on the other hand, take different angles of view and let time prove them to us. References: Jonathan Korman (April 15, 2005). “Liberty and Capitalism”. Accessed March 22, 2011 at: http://miniver.blogspot.com/2005/04/liberty-and-capitalism.htmlDavid McNally (2006). “The invisible hand is a clenched fist: inequality, alienation and the capitalist market economy” in Another World is Possible: Globalization and Anti-Capitalism, 2nd edition, Arbeiter Ring, 60-95. Ursula K. Le Guin (2006). “The Dispossessed: An Ambiguous Utopia: Chapter 5” from The Dispossessed: An Ambiguous Utopia, Victor Gollancz Limited, 126-153. Anonymous author (March 1, 2007). “American capitalism, a necessary evil? Retrieved March 23 from: http://www.theshieldnewsletter.com/?p=112Lynn Harsh (Nov. 2002). “Capitalism – A deal with the devil?” Accessed March 23 at: http://www.effwa.org/newsletter/2002_11b.php