Does Capitalism Have Serious Defects Summary

Does Capitalism Have Serious Defects?

Summary

The author begins by explaining that capitalism is a push for economic growth. He explains that ideally it should be broadening education and helping the middle class grow. It is supposed to push for everyone to be equal. The big corporations that we have however, are not good for the economic growth. Kurt Finsterbusch, the author, describes how economic growth leads to democracy, which in turn has created large companies that crave power. He then explains how this power goes against democracy. This leads him into two cases. The yes side of the argument, which shows how capitalism is damaging to our country and others and the no side of the argument, which tries to show how capitalism helps our country, by using various examples.

The yes side of the argument states that capitalism is a threat to equality and that capitalism damages people’s values and morals. The writer on this side, Jerry Muller, explains that there are two main problems, a rise in economic inequality, and how the government addresses it. He argues that capitalism is everybody’s problem and that if it is not

He states that there are barriers that prevent certain people from thriving in this capitalist economy and that families must shape their kids in order for them to lower these barriers. Furthermore, these barriers were the first signs of inequality, now there are less barriers and the new reason for inequality is the unequal ability for opportunities. He continues on to explain how dynamism and insecurity have also provided the world with welfare states. Muller does provide many examples of how capitalism helps, but he gives more evidence on how it is bad for the economy. Finally, he concludes by saying that he believes the government needs people with a fresh view on communism and what it actually