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Why Capitalism has produced great wealth and inequalities in today's world?
Wiki User
∙ 16y ago
It can be argued that before capitalism became a economic policy in many nations, there was always a large amount of wealth among countries in Western Europe and in fact world wide. Prior to capitalism, there too, was already a great deal of inequality measured on a worldwide basis. Many would argue that capitalism has, on an overall basis, simply created more wealth and in fact helped people in lower economic status to become more wealthy and produce a middle class of people. To a large measure, speaking about the results of capitalism requires that a more concise time frame be used.Generally speaking, other economic systems have yet to demonstrate that these systems can produce more wealth and more income equality then the "free market" ones also called capitalism.
Wiki User
∙ 9y ago
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Who was for capitalism?
capitalism was expressed in Adam Smith's Wealth of Nations (1776)
according to Karl Marx capitalism is oppressive and and potentially liberating how is this possible?
Karl Marx believed that capitalism is oppressive because it exploits the working class and maintains social inequalities. However, he also believed that capitalism has the potential to be liberating in the sense that it can create the conditions for a more equal and just society by generating wealth and resources that could be collectively owned and managed by the workers.
What is classical capitalism?
Classical capitalism is defined by the book "The Wealth Of Nations" by Adam Smith.
What are the three components of capitalism?
production, distribution, and exchange of wealth
Who described capitalism in his book The Wealth of Nations?
Adam Smith
Capitalism is another term for a what economic system?
Capitalism is an economic system where goods and services are produced for sale at a profit; the vast majority have to work for wages; a tiny minority own the means of production and exploit those who produce the wealth.
What is Carnegie gospel of wealth?
capitalism was part of the natural development of society.
Which ideas correctly paired with a document that support it?
Capitalism--Wealth of Nations
Are marxism and capitalism the same thing?
In no way imaginable. Marxism is a political and economic philosophy that seeks to understand society and how to change it, it has an appreciation for the historically progressive role that capitalism has played in the past but Marxism sees capitalism as being just another exploitative system in the long rum that will one day collapse and will need to be replaced with socialism.
Why is the stock market important to capitalism?
Desire of wealth is spirit of capitalism which is a driving force behind stock market volatility and economic growth. Investors for want of wealth and status trade heavily in stock market.
What are some of the differences between capitalist and socialist views?
Capitalism is an economic system based on private ownership and free market competition, where individuals and companies own and control the means of production. Socialism, on the other hand, aims to distribute wealth more equally among society by advocating for government ownership and control of key industries. Capitalism promotes individual freedom and rewards based on merit, while socialism prioritizes collective well-being and social equality.
Socialism began as an attempt to correct which disadvantage of capitalism?
An uneven distribution of wealth
