Capitalism

Capitalism is a political system characterized by private for-profit ownership of property and goods.

2,502 Questions
Capitalism

Who introduced capitalism?

Capitalism was not so much introduced as it was an emergent phenomenon beginning some time in the 16th century during the commercial revolution, when the accumulation of capital and business enterprise were starting to become widespread. Historians and economists usually agree that capitalism was fully introduced by the early 18th century during the Industrial Revolution, which is when wage-based labor replaced fuedal labor and guild organization and production.

The economist Adam Smith wrote his famous book entitled "An Inquiry into the Causes and Wealth of Nations" in 1776 which championed free markets and criticized mercantilist policies. Adam Smith is generally credited to be the founder of modern economics and one of the first philosophers to advocate free market capitalism (but it should be noted that Adam Smith did not use the term "capitalism").

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Capitalism

Where was capitalism invented?

Capitalism evolved out of feudalism during the black death in Europe because 2/3 of the population had succumbed to death labor was worth a lot more so serfs would hire themselves out to lords.

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Capitalism

Where did capitalism emerge?

Capitalism first emerged in Europe, but then was brought to America.

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Capitalism
Planned Economy

How different is a market economy from centrally planned economy?

  • Central Planning: A centrally planned economy relies on a party in power to decide what resources should be allocated to various demands as they see fit.
  • Free Market: A free market economy relies on prices to determine where demand should be filled and to what extent.

Because of these differences, an economy that is centrally planned is usually inefficient in their allocation of resources to each market. They decide beforehand which areas will get resources, restricting the supply and setting a price with no knowledge about the consumer's choice.

A free market is much more adaptable, using price as a communicator, supply, demand and price interact to form equilibriums that satisfy market clearing outcomes. This system is much more efficient in that the people who value the goods most are able to get them. This is the idea, it doesn't always work perfectly.

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Capitalism
Fascism

What is the difference between fascism and capitalism?

Answer
Capitalism is an economic system where the capital, or means of production (including property and natural resources) is owned and controlled by private citizens. The government's participation in a capitalist economy includes the issuing of money, the supervision of public utilities, and enforcement of private contracts. The main hope for government is to increase efficiency through policies and the prohibition of unfair business practices. However, the concept of capitalism differs vastly from its actual practice.

While analysts and scholars are still unable to define a fascist economy, one may still follow characteristics that fascist countries have shared. Fascist economies oppose international socialism as well as liberal capitalism. The result was a middle ground between the two ideals known as "dirigisme" -- an economic term where the government allows citizens private property and private initiative, but has directive influence and control over production and the allocation of resources. Most fascist movements aim for the elimination of autonomy and discourage international trade (while capitalist and most socialist economies support the latter). Fascist economies are often oppressive and militaristic while encouraging of social and economic inequalities.
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Economics
Capitalism

What is capitalism?

The Merriam-Webster dictionary describes capitalism as "an economic system characterized by private or corporate ownership of capital goods; and by prices, production and distribution of goods that are determined mainly by competition in a free market." It is interesting to note that the word "capitalist" (derived from "capitalism") used to be a synonym for a businessman or a business owner-- one who owned, produced, or invested in goods, and set the prices for them.

There are three basic economic systems: one in which "labor" is the primary factor of production, which is called slavery; one in which "land" is the primary factor of production, which is called feudalism. And finally, the economic system where capital is the primary factor of production, which is called capitalism. Capital is wealth used in the production of still more wealth. By protecting private ownership of wealth, the United States Constitution has greatly enabled capitalism to evolve.

The distribution of wealth in a capitalist system is best accomplished through the "free market". The "free market" discovers prices through arbitrage (defined as: the purchase and sale of securities in different markets, to profit from price discrepancies). The exchange of wealth in a "free market" system is voluntary, and it is made by individual decision. It should be noted that critics say there is often no "free market" because elites are able to manipulate the system to keep certain people excluded and to give greater advantage to themselves. They use as an example financial scandals of the past few years or the manipulation of the LIBOR in England.

There are various different policies that can be employed to distribute the wealth produced by a capitalist economic system. The most notable is known as "social democracy", which involves shared administration of capital between the government and private owners in the form of corporatism or collective bargaining. It is sometimes characterized by government regulations alongside government provision of public goods and social insurance.

The strongest critique of capitalism was made by Karl Marx. Marx's analysis was that capitalism would stagnate due to internal contradictions, and that the successor to capitalism would be a system where all factors of production be held in common. As a transition between capitalism and this new system, he called for the "Dictatorship of the Proletariat" in place of the "Dictatorship of the Bourgousise" as the form of government to oversee the transition from capitalism to socialism. A twisted hybrid of capitalism and socialism. Taking the worse from both systems and creating a politically driven economy. Politians make laws for cooperations and the cooperations fund their campaigns and fill their pockets.

Consumer finance is the division of retail banking that deals with lending money to consumers. This includes a variety of loans such as mortgage loans, credit cards and auto loans. This consumer finance is the only way to avail to those individual who cannot avail from any bank loans thus it has a higher percentage of interest. To carefully manage your finances please connect us at quityfactory.com.au for more updates.


Capitalism means privatization of small and large companies. Example: why is capitalism so effective?
Capitalism is the mind-set of every man should work for himself.

A basic economical system that is controlled mostly bye private corporations, businesses and a open and free environment of trade market; and basic ideals.

Basicly the idea that everyone is free to do what they want; and run there own businesses and make there own money bye there own means. With no assistance from others; being it's counterpart: socialism.

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Capitalism

Why do people like the capitalism system?

Capitalism was a nice theory and had some convincing propaganda thrown on it. I find most people like capitalism either because they are rich or privileged or think it gives them some kid of independence. This is silly of course since the working man is taken advantage of and there are other ways to get what you earn, except for real.

To supporters it is also a repercussion of the failure of socialism (which was capitalist socialism -mind you) Many capitalists seem to think that anyone opposed to capitalism is a communist or socialist and want to be enslaved. Also false.

But in my opinion, anyone with even a small amount of knowledge on reality and not just book smarts will realize the capitalist system is a sham.

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Socialism
Capitalism
Democracy

What are the features of modern political thought?

The major features of modern political thought are nation state,secularism,state sovereignty,democracy,nationalism,capitalism,socialism,liberalism and so on.

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Capitalism

What is capital him?

Capital H - i - m means "Him" which refers to a higher power such as God, turning this regular pronoun into a proper noun to give it significance.

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Jobs & Education
Economics
Philippines
Capitalism

Who owns the factors of production in the Philippines?

Factors of production is labor land capital entrepreneurship and technology and hence is owned by everyone (including citizens and government) of any company.

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Capitalism
Imperialism

Does modernity have any connection with imperialism and capitalism?

Inseparably connected, if you mean by modernity the current state of society.

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Capitalism

Why is constant growth essential to capitalism?

Because there to many mexicansbeeners in America freaking tapitio drinnkers. Why cant Mexicans play uno cause they always steal the green card.

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Economics
Capitalism

What are the advantages of capitalism?

* higher taxes allow for higher production of consumer goods

Capitalism is an economy in which the entire economy is left in private hands. The government's sole task is only to provide a safe legal framework in which capitalism can operate safely without fear of fraud etc...

Producers compete to see who can have the best and cheapest product in order to survive economically. This means the consumer will be given cheaper and better products.

People have to work hard in order to survive (as opposed to socialism and welfare states) keeping everyone working hard.

Innovators and inventors can take advantage of the free market to make a profit. This makes capitalism countries the primary sources of innovation and new technology.

If people work harder, they can make greater profit and improve themselves. (human nature). Therefore, people work hard. By contrast, in socialist states where the money is taken by the government for distribution, there is little urge for economic betterment and hard work because no matter how hard you work, you always make the same.

If capitalism is not followed, many disadvantages will come about. Example: The U.S. The more money that the United States taxes from the taxpayers and businesses and pours into social programs (aka wellfare), the less will be the taxpayers desire to work hard as his ability to obtain economic betterment is eliminated. The wellfare recipients will loose the push to work created by potential starvation and continue to not work (don't blame them, there's no reason to). Eventually more and more taxpayers will stop working and stop paying taxes in order to join the welfare recipients in order to live with no work. This has and will cause nearly all of the U.S.'s economic troubles.

~M. Hall

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Capitalism

How can communism replace capitalism?

There are a number of ways. The most common way is through economic collapse and poverty, which is mostly how it came into being in the former Soviet Union.

Communism offers itself as a solution to poverty by forming a classless society in which everyone is supposedly entitled to the same level of basic and austere lifestyle, which is not much better than poverty, and sometimes much worse. Since large central government runs everything, the people are dependent on them, regardless of how corrupt or apathetic they are towards their citizens.

Prior to Hitler taking control of Germany after his election in 1933, the communists were making a lot of progress, and nearly had a shot at getting control of Germany before Hitler did. At the time, Germany was wracked with severe economic collapse and inflation, poverty, starvation and more.

Today, we have an entire generation of Americans who have not been taught American history, know little or nothing about the history of their own nation, and the long march that got us to where we are. These uneducated masses easily swallow whatever false swill that their contemporaries and the media feeds to them without question. Now they are trying to sell this younger generation on the idea of socialism/communism (without coming right out and saying it, of course.)

There is no arguing this. It is the truth. Redistribution of wealth IS communism or socialism waiting in the wings. Rather than taking responsibility for their own condition and striving for a better living, many are content to accept being told that they are "victims" or have been "oppressed" in spite of the fact that they have a much higher standard of living than most of the world population, and developing a sense of entitlement. This is another way that communism can replace capitalism.

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Economics
Karl Marx
Capitalism

What did Karl Marx think of capitalism?

Karl Marx believed that capitalism through industrialization had increased the productive capability of the world's economy far beyond that ever witnessed before. Nevertheless, he also felt that capitalism created two competing classes of people. One, was the bourgeoisie who owned and controlled the means of production and hired wage laborers. The other was the proletariat, who were common workers who owned nothing but the right to sell their own labor. Capitalism's very nature would ensure that eventually, these classes would struggle against one another to the point where the class of workers would get large enough and oppressed enough that it would overthrow the bourgeoisie, seize the means of production from it and end the economic system known as capitalism. The system of socialism would be ushered in and gradually evolve into pure communism.

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Economics
Philosophy and Philosophers
Capitalism

What are the pros and cons of capitalism?

Capitalism promotes economic growth by providing an open competition in the market. It provides individuals with far better opportunities of raising their income and thus achieving economic growth.

Capitalism results in a decentralized economic system. This is considered as one of the greatest advantages of capitalism. In a decentralized economy, individuals are open to more number of options in business. They are exposed to competition and have to face different challenges and find solutions to them to stay in competition. It is in a capitalist economy that hard work is rewarded. Entrepreneurs who pitch well and are able to better their business are the undoubted winners.

Capitalism gives rise to an economy where the consumers regulate the market. Many consider this as one of the greatest strengths of a capitalist economy. A competitive market provided by capitalism facilitates the manufacture of a wide variety of products and the formation of a wide range of services. Consumers are happier in a capitalist economy. It encourages people to work towards financial freedom.

Cons of Capitalism

Some consider the fierce competition brought about by capitalism as its major drawback. They believe that a capitalist economy can give rise to unfair competition.

Capitalism makes an economy money-oriented. Business corporations look at the economy with a materialistic point of view. Profitability remains their only primary business goal. Business giants take over smaller companies. Employment rights are compensated with the sole aim of higher productivity.

Some economists believe that capitalism may lead to a depletion of the resources on Earth, as it requires continuous economic growth.

There are different views about capitalism. Some believe in its strengths, while others complain about the unfair distribution of wealth it may lead to. A mixed economy can perhaps serve as the golden mean.

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US in WW2
Real Estate Investing
Synonyms and Antonyms
Capitalism

What are Synonyms for enterprises?

businesses

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Capitalism
Imperialism

How is capitalism related to imperialism?

capitalists rule by the power of money, old fashion imperialism goes by the golden rule, whoever has the gold, rules or "you do what I tell you to do, you believe what I tell you to believe"

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Capitalism

What is guided capitalism?

when your state buys less imported, foreign goods and instead utilizes your own goods

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Political Theory
Capitalism

During which of the following steps of Marx's transition from capitalism to communism would society be completely free from a ruling class?

Revolution

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History, Politics & Society
History of the United States
Capitalism

What did the robber barons believe?

They had a right to gain wealth and power.

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Similarities Between
Socialism
Capitalism

What are some similarities between capitalism and socialism?

Answer 1

Both systems are nominally based on the principle of compensation based on individual contribution. Both retain property but in different forms (public in socialism versus private in capitalism).

Answer 2

These ideologies are on opposite sides of the political spectrum the former being right wing and the latter being left wing. Suffice to say, they have almost NOTHING in common. The only possible similarity is that they both share egalitarian views, albeit in different senses of the word. Capitalists appeal to equal opportunity. Socialists appeal to equal outcome. But largely, you could not pick two more different ideologies.

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Economics
Political Theory
Socialism
Capitalism

What countries still operate under socialism laws?

The countries that still have socialism is Sweden and Canada.

Edit:

While both Sweden and Canada have socialist aspects within their forms of government, so many other countries have more obvious aspects or socialism as part of their governmental structure.

All Scandinavian countries work withing a social democratic frame, much like Sweden, which means that despite capitalist opportunities, they have a strong welfare system, providing a safety net for people who are out of a job. As the third pillar of said social structure, these countries have policies to ensure that no one can exploit the system, and people are required to actively seek employment if they're healthy and otherwise able to work.

Actual socialist states, with very scarce (if any) capitalist aspects include North Korea and Cuba. These countries are normally considered Communist, and while this is the common assumption, no actual communist country (as described by Karl Marx) has yet existed, and the countries which have claimed to be communist are in fact socialist countries with emphasis on government control.

Given that no modern national government is a "pure" anything, all nations have some set of laws which are Socialist in nature. For example: the United State's Social Security system is extremely socialist. The U.K.'s National Health is also socialist. France's worker rights laws are socialist. Germany's national conscription laws are socialist.

Everything is in degrees - it's not a black or white issue.

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Capitalism

Does capitalism create poverty?

An OpinionNo. Capitalism creates wealth. There are poor people who live in a capitalist economy. These are the people who do not engage in capitalism. Another OpinionCapitalism creates wealth for a tiny minority. For the majority it creates poverty. Capitalism by definition exploits a large amout of people, in America this group is the low income working class. The people who own major corporations pay workers low wages in order to make more money for themselves. Corporations such as Gap and Nike have sweatshops in Third World countries and pay the workers less than two dollars a day, however the workers make these corporations hundreds of dollars in product sales. By not paying the workers enough money the system continues. And AnotherPoverty is the absence of wealth. An absence cannot be created. That's like saying "create hunger". Hunger is the lack of food. It just exists, period. And it will continue to exist until food is provided. Just like poverty will continue to exist until wealth is provided.

Now, one might believe that capitalism removes wealth from certain people, thereby resulting in poverty. But this is simply not the case. Capitalism creates wealth. You might disapprove of how that wealth is distributed, but you cannot say that anyone has any wealth taken away from them by capitalism. (Communism, on the other hand, most certainly takes wealth away from the people whom it rightfully belongs to, those who earned it.)

As for Gap and Nike, yes, I'm sure they do have so-called "sweatshops" in third-world countries. What you don't realize is how many people in those third-world countries would LOVE to work in those so-called sweatshops. Sure, the wages they're paying aren't nearly as high as what Gap and Nike would have to pay workers here in the US. But those wages are a heck of a lot better than anyone else in those third-world countries are paying. Believe me, the people that have those jobs are grateful to Gap and Nike for them. And the people in the third-world countries that DON'T have those jobs, very much wish they DID have those jobs. Oh sure, Gap and Nike, out of the goodness of their hearts, could just pay those poor third-world workers the same wages they would pay American workers. But then, they wouldn't be able to hire nearly as many, and that would mean more poverty. (For that matter, if they had to pay them the same as they would pay Americans, they'd probably just close down the "sweatshops" and hire Americans, "creating" even more poverty in the third world.) Fact is, whatever benefit Gap and Nike are deriving from this practice, they are clearly doing a favor for the third world workers, by creating wealth there. If you don't believe it, just ask anyone working in one of these "sweatshops". Better yet, ask someone who doesn't work in one of these sweatshops how much he would LIKE to.

One Opinion

Capitalism run rampant will result in a rich-poor divide, with poverty rates being unacceptably high. This can be understood simply through basic logic. In a laissez faire society, the children of the rich will have all the benefits of being part of a rich family whereas the children of the poor will have all the hurdles. Ultimately this will result in the rich getting richer and the poor getting poorer. This is perfectly natural as one would obviously expect rich parents to do their best to make sure their children succeed in life.

So it seems government intervention is necessary. A welfare system is in order - to give everyone a fighting chance. Of course there's the danger of going to the other end of the spectrum - Socialism, resulting in there being no clear incentive to succeed and a lack of creation of wealth. And so, for any society to succeed, a balance between Capitalist and Socialist ideas must be maintained.

An Economic FACTCapitalism, rampant or not, is the ONLY chance for poor people to get out of poverty. And it happens. EVERY DAY. Under capitalism. It does not happen under communism or socialism. Welfare systems DON'T WORK. This is a known fact. That's why we have 3rd and 4th-generation welfare mothers now. Welfare teaches children to be dependent on the government. Welfare IS socialism, the "other end of the spectrum" that you insist we must avoid. What you are advocating is not a "balance" between capitalism and socialism - it's PURE socialism for anyone and everyone who "needs" it, at the expense of those who can afford it. In other words, "from each according to his ability, to each according to his need". That is the bedrock principle of communism. And you are advocating it.

There is no "rich-poor divide" in this country (the US), at least not to the extent that you think. Yes, at any given time, there are some people who are rich and some people who are poor. The thing is, people move from one group to the other all the time. In other words, the poor get richer and the rich get poorer. You can't just look at the numbers. You have to pick a large sample of households and follow them over the years. One study did exactly that, and guess what it found. Of the households in the lowest wealth quintile (the poorest 1/5 of the sample), OVER HALF had raised themselves up into higher quintiles in JUST TEN YEARS.

To the extent that there is a "rich-poor divide" in the US, it is BECAUSE OF, not in spite of, welfare programs like you advocate. No one ever got rich from welfare. Yet many, many people find it preferable to working for a living. So anyone who gets on welfare will STAY poor, usually forever, and their CHILDREN will be one welfare, and will stay poor, forever. Meanwhile, on the other end of the income spectrum, the rich people not only have to provide their families with the lifestyle they're accustomed to, but they also have to pay more taxes to the government to pay for the welfare system. So, they have to make more GROSS income to have the same NET income. So, at least when measured in terms of GROSS income, the rich DO get richer, but only because they HAVE to get richer (in gross income) to have the same net income.

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Cold War
Communism
Capitalism

Why can't Communists and Capitalists just get along?

It depends on whether this question is intended as a philosophical question or a question of geopolitics during the Cold War.

Philosophical Question: What makes the ideas of Communism and Capitalism incompatible to the degree that their supporters harbor deep enmity for the supporters of the rival idea?

Capitalism and communism as economic theories are about determining the best way to promote human flourishing. Capitalism argues that allowing humans the freedom to pursue their own economic self-interest allows them to maximize wealth and lead to prosperity. Communism argues that governments should determine the direction of the economy to prevent overproduction, exploitation, and wealth inequality. These are two mutually incompatible belief systems about how to create and maintain a well-functioning economy.

Furthermore, the nexus of disagreement usually hinges on moral issues. Capitalists argue that communists want to force people to work in jobs and purchase goods that they do not want to do, violating their basic freedoms. Communists argue that capitalists want to force the majority of the population to be exploited by wealthy and to be deceived about their exploitation, violating their rights and human decency. When the debate is couched in these moral terms, people become more passionate and more likely angered. This can lead the enmity so often expressed between the supporters of one ideology for the supporters of the other.

Geopolitics: Why couldn't the United States and its allies and the Soviet Union and its allies exist in true peace and harmony?

Both the United States and the Soviet Union were attempting to expand their influence, their economics, and the political ideals across the world. These ambitions were mutually exclusive as they required the support of different regimes and styles of governance.

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