Working Under Capitalism

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Recommended: An introduction to varieties of capitalism

There are different systems that countries use. The most common are capitalism, socialism, and communism. Capitalism is an economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth are made and maintained by a private industry rather than the government (Dictionary.com). In capitalism, a private industry makes an investment where they would make money. The goal of capitalism is to profit (Answers.com). There are many countries that work under capitalism. Some countries that mostly function under capitalism are Japan, South Korea, Norway, Austria, and Italy (YourDictionary). There are five types of capitalism. These are turbo capitalism, responsible capitalism, popular capitalism, crony capitalism, and state capitalism. Turbo capitalism is an unregulated form of capitalism which includes financial deregulation, privatisation and lower tax on higher earners. Responsible capitalism is essentially a free market economy, but it includes a degree of government regulation to avoid the excesses and inequities of capitalism. Popular capitalism takes benefits of capitalism and makes sure everyone benefits from economic growth. Economic growth is the increase in the amount of goods and services. Crony capitalism is the …show more content…

In capitalism, people can pick and choose what they want to do, and there are many choices given. They know what they are getting by what is written or said on the package. Another benefit of capitalism is social goods. No matter what the job is or what is happening in the job, almost everyone is satisfied. They all are also doing what is best for the society. Freedom is also a benefit of capitalism. In capitalism, people get to choose what they want to do. They also get to pick in which area they want to work in. They get to pick how they want their lifestyle to be. These are some of the many benefits of capitalism.

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