Capitalism Essay

Capitalism
Capitalism is the economic system in which production, distribution and, exchange of goods takes place for profit by people's own interest. In capitalism, private owners control over industry or market with none or very low interference by government. Capitalism provides right to express their freedom by making decision about their goods and labor. It gives right or freedom to choose what to produce, how to produce and, price of that product. Producer will decide that for how much he or she wants to sell his or her product. These, exchange of goods, all mainly depend on the laws of supply and demandl If there is no demand for a specific product, that producer won't be able to sell his/her product with profit. In contrast, on high' demand of a product, producer can sell and make a lot of profit. The main principle of the capitalism is to give freedom to the individual for their ability to produce something based on consumer demand and, interest in exchange of goods by means of profit and need. In sHort, people get freedom to run the market based on their ability and interest. In an ideal world, it supposed to benefit everyone, producers and consumers, because producer wilf produce and make profit from what people want and consumer will pay what they think the product is worth for. In Capitalism, private owner's make profit over labor. In-real world, labor get less money for their work on which owner make profit. Capitalism provides us freedom of individual, but it neglects the stability of the society.
Ideally, capitalism supposed to bring competitive market in the economic system which supposed to help to regulate the price of the goods. According to one of the great philosopher, Adam Smith, competitive market will incr...

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...s thinks for themselves. There are few solutions to make economic system work better. Government should make law for problem of the society regarding the market. As Marx believed that, eventually, workers would unite and overthrown the capitalist ruling class. We all together work out as we have been to fix the problem after they arise. There was a time period in the history when owners owned slaves to work for them by providing minimum basic need to survive. We can still see the slavery in different terms, even today. Instead of providing workers their minimum basic need, today owners pay them minimum money to survive in this world. There is only one difference, before slavery was based on the race and, now it is based on the class, talent of the person. If we alt work together, it is, easier to change economic system than solving the problem created by capitalism.