Capitalism is Good or Bad?
What is capitalism?
Suppose you have one million, you can set up a factory, the ownership of the factory and income generated is yours. Of course, if you want you can sell your plant for stock or real estate. You have the right to dispose of your property, and more importantly, you have the right to use the value of the property and exchange value to obtain income.
This is the most important characteristic of capitalism. If we take a closer look at capitalism more good or bad views will be found out. In the face of ? Capitalism: A love story and Occupy Wall Street some people take the position that capitalism makes a few rich at the expense of many, as a result, has emerged of social inequality, to which I can’t add my consent, I tend to believe that capitalism has good and bad two side.
As far as?
Capital: A love story? is concerned, there is no denying the fact that Capitalism is not a human ideal society. For example, in this movie the regional economic impact of General Motors CEO Roger Smith’s decision to close several auto plants in his hometown of Flint, Michigan, despite large profits. He notes that by the time of the job cuts in Flint, Germany and Japan had rebuilt their automotive industries and were producing better, safer, cleaner, more reliable cars.
Moore returns to the present, showing President George W. Bush enjoying his final year in office as companies announce massive layoffs and the economy starts to collapse. This fully shows that capital is only one of the various factors of production. Only the capital factor is affirmed, but the value of labor is deprived.
So what is the significance of human labor?
This is clearly unjust. Therefore, the development of capitalism has led to monopoly operations, overproduction and waste of resources. In other hand Moore says that capitalism allows people to get away with anything, including making a profit from someone’s death. He speaks to the family of a man who works at Amegy Bank, Texas, who secretly bought him life insurance. As a beneficiary, he received dollar compensation for his death from cancer.
Capitalism’s measurement of people is one-sided, it is a measurement of single economic value, and human value perception is not only a dimension of economic value. The realization of human desire, happy life, and comprehensive development are not only determined by the economy. but the instrumentality, alienation, and unity of people caused by capitalism cannot be ignored.
As stated in the previous paragraph capitalism makes a few rich at the expense of many, as a result, has emerged of social inequality. But the problem is not so simple, therefore People have the right to protest after the global financial crisis broke out in the late 1920s, people held peaceful rallies to occupy Wall Street to resist the insufficient performance of American political leaders in solving the economic crisis. From this we can see that people and capitalists are obviously in completely different positions. Workers are chained by a hungry chain, and hunger forces them to be hired, that is, to sell their labor. For workers, they have no other way out.
However, we have to look at the other side of the coin that is because capital has time value, money can make money, everyone has the motivation to make money, under the protection of the property rights system, people dare to make money, dare to take commercial risks. Freedom of contract allows the free flow of resources. These have made full use of resources and accumulated wealth. This is the superiority of capitalism.
In conclusion, Capitalism gives people the right to use the value of property and exchange value for income. But at the same time, capitalism only considers the economic value and ignores resource consumption and environmental damage and inequality. There does not have social system is perfect. Before we find one that can completely replace the existing system, we can not cancel the existing system. We can only slowly adjust and change it.
Works Cited
- Robert Hessen-Benjamin Rogge-John Nye-Robert Heilbroner-Gene Smiley-Michael Bordo – https://www.econlib.org/library/Enc/Capitalism.html
- Capitalism Is the Ideal Social System Based on Individual Rights https://www.capitalism.org/
