Disadvantages Of Capitalism In The United States

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Capitalism is a complicated way of how the United States lives. Capitalism is how our economy is, and how the society and government make the decisions. There are different types of capitalism; turbo, responsible, and state. There are advantages and disadvantages to Capitalism. The decision making of how our economy is, to the different types of capitalism, and to the advantages and disadvantages make up the country we live in.
Capitalism is an economic system based on efficiency. It recognizes and enforces private property rights and individual rights. Our economy produces goods based on customer demand, in the most efficient way possible. It only produces goods for those that can afford it. “Capitalism is an economic system in which market forces determine what is produced (supply will meet demand), goods will be produced at the lowest possible cost and only those who are willing (and able) to pay the “market price” will gain access to society’s goods” (University of North Carolina at Greensboro). Therefore, capitalist produce goods by following a method that pays workers the least possible wage. …show more content…

Turbo capitalism is mostly regulated, and monopolization of industries is allowed. But in Turbo capitalism, working conditions are not inspected or taken care of and can be extremely harsh. The United States is Responsible capitalism. It is very different from Turbo capitalism. Responsible capitalism has welfare to help the poor and unemployment, and monopolies and working conditions are regulated. State capitalism holds state and government owned industries. Which means, the government owns a lot of the economy.All three types of capitalism have there pros and cons and some may be better and more efficient than

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