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- Citizens' can control and develop factories, corporation etc.
- There is no limit on how much an individual can profit
Both of these assertions are incorrect I would posit.
Under capitalism, the means of production are not owned in common, by 'citizens', they are owned by a wealthy few, the capitalists. Technological advamcement under capitalism is a result from competition.
As to the second assertion, there are. Capitalism cannot endlessly expand for all time, firstly that is just impossible from a political economic perspective. Also there are the ecological limits to growth, the drive for endless expansion inevitably comes into conflict with ecology.
What else can I help you with?
What is the main idea about communism and capitalism?
Capitalism: ownership of the means of production by a tiny minority, production for profit, wages system. Communism: common ownership, production for use, free access.
Offering workers higher wages and providing benefits is what?
welfare capitalism
Similarites between capitalism and mercantilism?
Mercantilism and Capitalism both have to do with the economy and making money. and they both have people getting benefits from them the entrepenuers and the monarchs
What are the benefits and problems of living in a consumer society?
what are advantages n disadvantages of capitalism?
What are benefits of Private Medical cover over the NHS?
Similar to Capitalism vs Communism
What is the advantage and the dis advantage of free market economy?
A free enterprise economy is also known as capitalism. There are many advantages to capitalism because capitalism benefits everyone. Capitalism gives everyone the freedom to choose their own jobs and products without government intervention. However, a disadvantage is that companies tend to cut corners risking employees health and safety.
Do you feel that benefits of capitalism in china outweigh the drawbacks?
They do not have Capitalism, they have Communism. Communism may seem good but remember you have no voice in government, no ability to disagree with the government publicly, no freedom of the the press, and the worst part is, nothing to do with Capitalism or Communism, is that everything in China is very polluted and dirty in most parts.
How do you minimize disadvantages of capitalism?
Capitalism benefits from exploitation of labour and limiting the quality of the product/service, so it is natural for Capitalists to be Evil.The only way to minimize this is either by self-regulation by the Capitalist or through Gov.t control.
Welfare capitalism in sentence?
Welfare capitalism is system in which employees are granted benefits such as insurance, food, and other perks. The process began in the 1880s in the United States.
What are the benefits of industrial capitalism?
It creates the prerequisites for it's overthrow and the establishment of socialism. With capitalism ineviably comes, greater wealth than under feudalism and great technological advacement. These are just two prerequisites for the establishment of socialism at least.
What are the consequences of capitalism?
The consequences of Capitalism is defined by the explanation of the meaning of Capitalism - An economic and political system in which a country's trade and industry is controlled by private owners for profit, rather than by the State. Thus, those in favour of Capitalism argue that is creates more prosperity than any other political system. Its benefits are therefore mainly for the 'ordinary' person.
What type of economic system do individuals own most of the businesses?
Capitalism
