An outline for Capitalism
The research is about capitalism and how it has been adopted by many countries over the years in fields such as social, economical and political this therefore, has caused a lot of effects for the citizens either positive or negative in their day to day lives.
Start with the brief definition of capitalism in the economic sector, social setting and political field. Provide a brief history of capitalism and provide example of countries that practice capitalism.
- What is capitalism in the economic sector? Capitalism in the economic environment simply means the economic area in which there is freedom to conduct free markets, and there is ownership of private business (Scott 2006). This is very useful since it ensures economic growths in a country. This becomes a reality because they are not controlled thus are able to make their businesses without problems.
- What is the definition of capitalism in the social setting? The other definition of capitalism is a social system in which it focuses on individual rights such as ownership of property.
- How is capitalism useful in the social setting? This will ensure that there is no use of force either physical or emotional to control someone. The government’s job in a capitalist country is to maintain law and order to protect human rights.
- What is the relationship between the capitalist nation and government?
- When does the government come in handy in a capitalist nation? There are different ways in which the government uses force in order to protect the citizens from physical and mental injury. A good example is when they are protecting individuals who are about to harm themselves and in instances where the country is being invaded (Rand 1962). In a capitalist environment, the individuals have a right to do as they please therefore, they can dictate what they want in their lives such as business wise and their daily lives.
- What is capitalism in the political aspect? Capitalism in the political aspect is the laissez-faire meaning there is freedom for citizens, in that they can decide with whom they want to elect (Scott 2006).
- What are the advantages of capitalism? The advantages can range from the economical to the social setting. In the economical sector which encourages competition because of the free markets. In the social setting due to the increase of companies it has to the increase of employment.
- What are the disadvantages of capitalism? The problems that occur in a capitalist nation include the uneven distribution of equity thus causing a few people to be richer in the society. The free markets have caused some companies to increase the monopoly thus they are able to exploit others. In the social setting it causes starvation due to lack of even distribution (Rand 1962). Due to the need to increase profits in the companies they are therefore not keen in polluting the environment thus poisoning people. In the government setting it will lead to the undemocracy in which people will choose the leader of their choice that ends up betraying them thus not representing them to the full potential.
- The conclusion. Write down your overall thought about capitalism. Capitalism is used in the social, political and economic aspect in our nations. This enables people to have a free and fair nation which is prospering well in terms of economics. There are many advantages of of capitalism such employment of work that will enable people to sustain themselves. There are also disadvantages such as the gap between the rich and the poor because of the freedom to have free markets. Though there are disadvantages of capitalism this does not hinder the fact that in capitalism the advantages the advantages will definitely outweigh them.
Reference
Rand, A. (1967). Capitalism: The Unknown Ideal. New Yolk: New American Library. Print
Scott, B. R. (2006). The Political Economy of capitalism. Print
