Culture of Capitalism

1616 Words4 Pages
bulb-icon

Recommended: Grade 11 economic systems essay

Every country needs to have an economic system in order to enhance the living of people and the growth of the nation. It has an important role on the development of a nation. There are many ideas to get development, but the most prevalent ideology comes to capitalism and socialism. However, culture of capitalism development is very strong and most countries are following this way at the moment.
Firstly, what is Capitalism? Capitalism is an economic system owned and controlled by private individuals in order to make profits and increase the growth, able to decide the prices and run freely. This way is completely different compared with socialism, which everyone are equal, safe and stable but have less income and could hardly grow. In the past, socialism was a safe opportunity for everyone, gave people supply, money and potential to live. However, as the world’s getting more developed, people started to have more needs and wants. So they demanded to have more to please themselves. Having more things meaning you must have more money. And it’s the time they understand that socialism won’t be a good choice anymore, because it cannot satisfy people enough. To the whole world, it is a huge problem when people don’t have enough money for better living and somehow, socialism is not so fair since people are all equal. Because, no matter how hard a person works, he or she still has a specific amount of money even though that person deserves more. While those who are not working still be able to earn exactly the same amount. This might lead people to become lazy and stop working hard, eventually slow down the economic system and again, people have less income and barely live. Therefore, many countries chose to be capitalized, growin...

... middle of paper ...

...arge . Building family for another 10 years and has been a solid performance as it is now . For me, it is a great pride. Life is much better now. I am able to buy a lot of things that my parents did not have the opportunity the day before. Because back then businesses are not so developed. I think that after all, money is the most important and is the key factor to determine the future of each person.
After all, we can say that capitalism is beneficial but also harmful. Through real life examples mentioned above, I personally think that Vietnam should follow a completely new way to develop the best economy, the future will generate massively. However, this is only my own opinion. Because everyone has a different way of thinking. I hope that in the future Vietnam will always stay at the best shot to ensure a good life for all people.

Works Cited

www.worldbank.org

Show More
Related

  • Responses to the Development of Capitalism DBQ

    1083 Words  | 3 Pages

    Throughout the 19th century, capitalism seemed like an economic utopia for some, but on the other hand some saw it as a troublesome whirlpool that would lead to bigger problems. The development of capitalism in popular countries such as in England brought the idea that the supply and demand exchange systems could work in most trade based countries. Other countries such as Russia thought that the proletariats and bourgeoisie could not co-exist with demand for power and land, and eventually resorted to communism in the early 20th century. Although many different systems were available to the countries in need of economic change, a majority of them found the right system for their needs. And when capitalist societies began to take full swing, some classes did not benefit as well as others and this resulted in a vast amount of proletariats looking for work. Capitalists societies are for certain a win-loss system, and many people did not like the change from having there society changed to a government controlled money hungry system. On the other hand, the demand for labor brought the bourgeoisie large profits because they could pay out as much as they wanted for labor.

    Read More

  • Capitalism in The Jungle Upton Sinclair

    1460 Words  | 3 Pages

    First, what is capitalism? And why it is good and why it is bad. Capitalism is all about efficiency and get things done. “Capital” by itself means own, operation and trade for making benefits with the most efficient way. Capitalism focuses more on emphasizing on individual profits rather than on workers or society as a whole. Capitalism provides free-market that produces the best economic outcome for society. Furthermore, capitalism is not friendly for lazy and laid back people because in order to live in the capitalist society, people need to work very hard in order to survive. However, capitalism will compensate well for people who are working hard and give contributions to the society. That is its good side. Capitalism is a form of political society ...

    Read More

  • Capitalism Dbq Analysis

    872 Words  | 2 Pages

    Economic systems are affected by the two opposing systems of capitalism and communism. They each can meet the needs of people; however, both affect the lives of people in good and bad ways, affecting industrialized nations and nations in the process of being industrialized. Capitalism is all about wealth and the wealth of people. Capitalism met the needs of the people because the right to property was created. You can own your own house, factories and land.

    Read More

  • Analysis and Commentary on Bill Gate´s Article: How to Fix Capitalism

    1141 Words  | 3 Pages

    The richest of humanity see the most of improvements, and the poorest of humanity see the least of these improvements. Through capitalism the world has changed tremendously in a short amount of time. A host of new technology has been innovated, especially in the last 100 years. Humanity as a whole is much better off than it was before. As an example, most of us are able to take an airplane to travel from one country to another in one day or have fairly easy access to advanced health care. In a word, like Bill Gates said in his article “How to Fix Capitalism”, “Capitalism has improved the lives of billions of people- something that’s easy to forget”(Gates). But, it is not getting better fast enough, and it is not getting better for everyone. A multitude of people live on less than a dollar a day and it can be extremely hard for a person in such a situation to drag themselves out of poverty without help from others. Capitalism has the ability to harness self-interest in a helpful and sustainable way but only on beh...

    Read More

  • Capitalism Where Do We Come From Analysis

    636 Words  | 2 Pages

    To begin, capitalism is the economic ideology that everything is primarily focused towards making profit through the production and distribution of a product. In the article “Capitalism: Where Do We Come From?” By Robert Heilbroner and Lester Thurow, they provide insight on how capitalism has changed over the years and the impact it now has in today’s society. “There were no factors of production before capitalism. Of course, human labour, nature’s gift of land and natural resources, and the artifacts of society have always existed. But labour, land, and capital were not commodities for sale” (Para,17). Capitalism has an impact in my life because in the 21st century children are taught in school skills that will benefit businesses, so that they can continue to make a profit through the production and distribution

    Read More

  • Capitalism: Where Do We Come From?

    564 Words  | 2 Pages

    To begin, capitalism is the economic ideology that everything is primarily focused towards making profit through the production and distribution of a product. In the article “Capitalism: Where Do We Come From?” By Robert Heilbroner and Lester Thurow, they provide insight on how capitalism has changed over the years and the impact it now has in today’s society. “There were no factors of production before capitalism. Of course, human labour, nature’s gift of land and natural resources, and the artifacts of society have always existed. But labour, land, and capital were not commodities for

    Read More

  • Free Enterprise Importance

    690 Words  | 2 Pages

    ...free enterprise system is very important in today’s society. Because of the capitalistic economy people have incentives to work harder and longer and maybe entice people into starting businesses that would not have been there succeed. The law of supply and demand is a great idea for the free enterprise system because it helps producers and consumers come to an agreement on a products cost. The free enterprise system also helps companies keep striving to become efficient and to produce things cheaper so that the public can get products for cheaper. The capitalistic economy makes a way for companies to change with society in a way that businesses are happy because their sales are improved and consumers are happier because they get the products they want. The free enterprise system is the engine that drives the United States economy and continues to work to this day.

    Read More

  • Karl Marx's Kapital

    1075 Words  | 3 Pages

    When one gets down to the roots of capitalism you find that it is a form of government that allows the rich to get richer, the poor, poorer and the middle class to stay the same. Karl Marx wrote a book, Kapital about the what capitalism does to the people in a society, how it takes the humainty out of being and replaces it with x. Not only does it do that but it creates a chain of commodities, fetishisis, and alienation within a society.

    Read More

  • The Pros And Cons Of Capitalism

    905 Words  | 2 Pages

    Capitalism is the best economic system for many reasons. The first one is because the government believes in “ Laissez Faire”, which means “Hands off”. The government has no role

    Read More

  • Karl Marx and a Capitalist Society

    754 Words  | 2 Pages

    Through out history money, wealth and capital have dictated a way of life to the masses. Wealth dictated the lives that the rich lived and the lives of the poor that worked for and surrounded them. In some cultures your class could never be escaped in life, you had to wait for your next incarnation, while in other cultures the idea of wealth transcended a life and allowed for growth from one class to another. This is the reality of a capitalist society that was first discussed by Karl Marx in the 19th century.

    Read More

  • Capitalism: Good or Evil?

    1868 Words  | 4 Pages

    Capitalism is currently one of the two major economic systems that are being operated among the world. For my interpretation, its basics are privatization and individualism. That is, capitals are privately owned, profit of production is also privatized, and the society exists more on the basis of individuals than of groups. From an economic aspect, we undoubtedly acknowledge that capitalism is making great progress and wealth. As an example, the most powerful country in our time, the United States is a typical capitalist country. Yet, we also cannot deny that this system is causing problems and they are gradually getting widely concerned. Therefore, this controversial issue is often brought into public focus. The question is, is capitalism actually good to keep or it is evil to be replaced?

    Read More

  • Vietnamese Nationalism

    866 Words  | 2 Pages

    In addition, Vietnam had and still has a Communist government and a socialist economic model. However, the Vietnamese are trying to move more towards a free market system. Meaning that the Vietnamese want a market economy where the forces of supply and demand are not controlled by the government, nor any other authority. Moreover, every members of the government are elected by Vietnam’s National Assembly. Additionally, Vietnam is one of the fastest growing financial country in the world with, according to bbc.com, a nominal GDP that reached about $170 billions. Also, Vietnam became one of the highest leading agri...

    Read More

  • Compare And Contrast Capitalism And Socialism

    2416 Words  | 5 Pages

    Both Capitalism and Socialism want the same thing but have different ideas on how to obtain it. That thing is a strong and prosperous country filled with happy and hard-working people. Although the goal is the same the approach is different just like how different people come up with their own ideas on how to solve the

    Read More

  • Karl Marx and Capitalism

    893 Words  | 2 Pages

    Capitalism dominates the world today. Known as a system to create wealth, capitalism’s main purpose is to increase profits through land, labor and free market. It is a replacement of feudalism and slavery. It promises to provide equality and increases living standards through equal exchanges, technological innovations and mass productions. However, taking a look at the global economy today, one can clearly see the disparity between developed and developing countries, and the persistence of poverty throughout the world despite the existence of abundant wealth. This modern issue was predicted and explained a hundred and fifty years ago in Karl Marx’s Capital.

    Read More

  • Capitalism in the US

    705 Words  | 2 Pages

    Capitalism is what made our country strong, and it needs to be protected from its enemies. The study of capitalism reveals that this type of system inspires creative thinking and rewards successful innovation financially. This drives the economy forward in an excellent way. In his article, Arthur Brooks makes a strong argument which validates the need for free enterprise to remain unrestricted, and free to execute business unfettered (Brooks 545). He points to the intentions of our government, in its infancy, by quoting Thomas Jefferson, in regard to our economic system. Jefferson said at his first inaugural address "A wise and frugal government, which shall restrain men from injuring one another, shall leave them otherwise free to regulate their own pursuits of bread it has earned" (qtd. in Brooks 545). In contrast, socialism is a system that advocates the control of production and distribution, of capital, and land. Socialism is more closely related to a command system, such as communism, than it is to capitalism. Communism distributes wealth equally to all. Robin hood is a fascinating tale that can be a demonstration of communism. Take from the rich and give it to the poor. Most people do not consider themselves to be wealthy. That is because it is human nature to alway...

    Read More

More about Culture of Capitalism

Open Document