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Capitalism

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

631 Questions

What statement is a PRIMARY characteristic of a capitalist system?

Free enterprise is usually a characteristic of a capitalist system. Free enterprise is the idea that people are free to operate their businesses with little, if any, government controls.Free-enterprise capitalism has been a powerful idea throughout American history. Starting in the 1700s, colonists complained against Britain's Navigation Acts because they controlled trade and limited freedom of enterprise. The desire for economic freedom was one of the causes of the American Revolution. The idea of free enterprise remained strong during the 1800s. Many immigrants came to America because its free-enterprise system gave them the freedom to work as they pleased. (Note: Some countries have capitalist systems which grant less freedom of enterprise than others. For example, modern Japan is a capitalist country, but its government places some strong controls on Japanese businesses.)

What are the social benefits of perfect competition?

i don't think it's good enough especially in the developed country or society, beside the positive impact for rising the potency of the society, perfect competition also make the competition only available for whom had enough resources, not for all society. so this condition must have a mediator to make competition become fair enough for the society

What is the capitalism view on globalization?

Capitalism is the economic system that dominates the world today. Economics is a study that tries to understand how economies work, when economists today refer to the economy, they are referring to the capitalist system. Though economists only use the term "capitalism" on a more regular basis when it is in crisis.

In which countries is there pure capitalism?

their are no countries that have pure capitalism because pure capitalism can never exist. pure capitalism lead to anarchy and a coercive monopoly whit businessman telling how to live are life.

What is the relationship between protestantism and capitalism?

There is a famous book by Max Weber called The Protestant Ethic and the Spirit of Capitalism. His thesis is that Protestantism created the values that developed capitalism.

How did capitalism lead to industrialization?

This is an interesting question in that the terms industrialization and capitalism are in reverse order. Here is the explanation.

It was capitalism that fueled industrilization, not the reverse.

During the industrial revolution that occurred in Europe and the USA, the governments' "hands off " policies on the economy led directly to investments in producing capital goods and services.

One note on this however, as it is a vital one in the economic growth in the USA. Capitalism is an economic system whereby private investment and industries are not closely regulated or "owned" by the government.

In the USA, most of the land west of the Mississippi River was owned by the Federal Government. With that in mind we come upon one of the most profitable &powerful busnesses in the USA in the 19th Century.

The railways were the "children" of the Federal Government. The rights of way, land leases or giveaway sales to the railways by the government were socialistic in nature.
The Indstrial Revolution fueled the growth of capitalism with increased work productivity and a boost to the economy.

Difference between capitalism and socialism?

Capitalism: a small number of capitalists own the resources of the planet; most people have to work for wages; goods and services are produced for the sake of profit.

Socialism: the resources of the world belong to all the people in common; goods and services are produced to meet human need.

Why did capitalism survive the Great Depression?

All countries, all economies will survive. But what the Depression means to all of us is that we become poorer. That is what it does to us all. It is about a reassesssment of how confident we are about the future: And as you can see right now, yes, it's about as bad as it looks, it doesn't look good. One day the economic sun will shine again. Until then it will be more & more difficult to get credit. And there will be casualties. there will be hardship & people will become poorer & be made homeless. & I am saying, & I am sorry to say we are looking into the abyss right now just like we were then. In the US right now you have a choice to make between Obama & McCain & it is probable that the choice you make in the US probably doesn't matter at all. All that matters is to batten down tha hatches & weather the economic storm that is to come & come out smiling, if you can. The short answer to the question is that I don't know what causes depressions or recovery from them: Experience shows that they are survivable, in time & with luck. But no, I am not saying it is, or will be easy....

Capitalism is an economic system based on?

Ownership of the means of production by a small minority; wages system; production for sale and profit; exploitation

How is capitalism today?

In the United States chiefly. Great Britain and British commonwealth countries (e.g., Australia, Canada, India). Japan. Pretty much the entire industrialized world, except China.

References:

http://www.americansolvent.com/2009/07/03/competition-vs-monopoly-whats-the-big-confusion/

What is a characteristic of capitalism?

Capitalism is natural resources and finished product are privately owned with a market value of the product dictated by a) the demand of the product by the consumer; b) the cost of the manufacture of the product; and c) the profit to the seller. In a truly capitalist society, government does not concern itself in financial affairs of private transactions beyond taxation (ie price regulation or gouging laws).

Is the US a capitalist or socialist country?

Capitalist: production for sale, wages system, minority ownership of the means of production, class division. Socialism has none of these, and there cannot be a mix of capitalism and Socialism.

Who developed the philosophy of capitalism?

No one "developed capitalism." It is an economic system that developed on its own from the earlier agrarian economies to the more industrialized economies. Many economists have analyzed it over time, but no one person developed it.

Why did Russia choose communism and not capitalism?

When the US was forming, communism did not exist. The idea didn't come around till the 19th century under Karl Marx. The reason the US did not convert is argued but most people agree it is because of the failure of communism in Russia.

What is Adam Smith's view of mercantile capitalism?

Smith's basic ideas are that capitalism is a "system of perfect liberty" and that if it is allowed to flourish it will inevitably lead to prosperity for all. Though it is not without it's flaws and to correct these flaws, minimal state intervention may be required. Perhaps the most famous example of this is "All for ourselves, none for others. The vile maxim of the masters of mankind." That is, that the capitalists horde wealth at the expense of others.

What is another name for capitalist system?

The terms FREE MARKET ECONOMICS and capitalism are used relatively interchangeably because both refer to a system where business owners make local decisions to produce, sell, and buy various products based on market demand, rather than government demands.

Did the New Deal save capitalism?

The New Deal stifled Capitalism and prevented free market recovery from happening naturally. This stifling of the free market did not begin with Roosevelt however, Herbert Hoover began the crusade of government intervention into the economy. The policies of Hoover and Roosevelt and their regulations had little to no positive effect on the economy. In fact economic graphs from the era show that the economy was absolutely stifled during the time of government intervention.

Contrary to wide held opinions Socialism provided the malaise that allowed Hitler to instill Fascism in the 1930's and 40's, where humans were treated as a commodity to be used to gain advantage for the state. Nazi Germany was never a Capitalist system.

It is apparent that Statist policies and over regulation tend to hamper free enterprise.

Democrat President Harry S. Trueman stated the differences between Democracy and government based welfare states in his inaugural address in 1949: Harry S. Truman, Inaugural Speech (excerpt), 1949

" The American people desire, and are determined to work for, a world in which all nations and all peoples are free to govern themselves as they see fit, and to achieve a decent and satisfying life. Above all else, our people desire, and are determined to work for, peace on earth-a just and lasting peace-based on genuine agreement freely arrived at by equals. 9

In the pursuit of these aims, the United States and other like-minded nations find themselves directly opposed by a regime with contrary aims and a totally different concept of life. 10

That regime adheres to a false philosophy which purports to offer freedom, security, and greater opportunity to mankind. Misled by this philosophy, many peoples have sacrificed their liberties only to learn to their sorrow that deceit and mockery, poverty and tyranny, are their reward. 11

That false philosophy is communism. 12

Communism is based on the belief that man is so weak and inadequate that he is unable to govern himself, and therefore requires the rule of strong masters. 13

Democracy is based on the conviction that man has the moral and intellectual capacity, as well as the inalienable right, to govern himself with reason and justice. 14

Communism subjects the individual to arrest without lawful cause, punishment without trial, and forced labor as the chattel of the state. It decrees what information he shall receive, what art he shall produce, what leaders he shall follow, and what thoughts he shall think. 15

Democracy maintains that government is established for the benefit of the individual, and is charged with the responsibility of protecting the rights of the individual and his freedom in the exercise of his abilities. 16

Communism maintains that social wrongs can be corrected only by violence. 17

Democracy has proved that social justice can be achieved through peaceful change. 18

Communism holds that the world is so deeply divided into opposing classes that war is inevitable. 19

Democracy holds that free nations can settle differences justly and maintain lasting peace. 20

These differences between communism and democracy do not concern the United States alone. People everywhere are coming to realize that what is involved is material well-being, human dignity, and the right to believe in and worship God. 21

I state these differences, not to draw issues of belief as such, but because the actions resulting from the Communist philosophy are a threat to the efforts of free nations to bring about world recovery and lasting peace."

What are the stylistic features of novels?

Quite a wonderful question, most of us tend to read novels but fail to get any stylistica features from the same. To list just but a few, this are some of the stylistic features that artists use in trying to pass a message to us: Use of symbolism: This is where the writer/artist uses a symbol to describe, represent or characterise a person, thing or place. For instance, the use of a broken egg to describe or represent a lost society e.t.c Suspense: Is another stylistic feature used which in actual sense leaves the audience who is the reader with so many questions about what happened next. For instance "....and he was no more. Irony: This one, the writer uses to contradicting explanations. For instance, the use of phrases like "sweet sorrow". Rhyming words: This are words that have the same feel maybe due to the sound of utterance or to the way they are written. For instance "The Garden of Eden" Where garden and Eden sound the same. Sarcasm: This is where the writer gives another character the words of another and makes them sound impolite to the other party. It might involve the other party saying the same words in a way that may offend the other. For example, a person dressed clumsly might be complemented for dressing well. Satire: Is more like sarcasm however, it mostly deals with actions unlike sarcasm which deals with words. However, both are geared towards offending the other party. Other stylistic features or stylistic devices as they are called , will be discussed with time because in reality, they are so many and can consume much time to exhaust at one go.

Who benefits and who suffers most from a centrally planned economy?

Who benefits:

  • The Central Planners -- all of those bureaucrats are employed with the purpose of creating the central planning and, as a result, their very livelihood exists only by dint of the planned economy.
  • Black Market Smugglers -- Black Market Smugglers get much more traffic for needed goods if the economy cannot anticipate people's needs and this happens very commonly in planned economies.

Who suffers: Everyone Else
  • Entrepreneurs are banned from starting new businesses that sell their own products.
  • Businesses have product overflows in some categories and shortfalls in many others.
  • Common people cannot buy everything that they may need or want.

What are The three main ideas behind capitalism as defined by Adam Smith?

All companies should distribute their profits evenly throughout the population.


The means of production should be owned by the state.

all companies should distribute their profits evenly throughout the population

The government should guarantee a basic standard of living for everyone.
The means of production should be owned by the state
The means of production should be owned by the state
All companies should distribute their profits evenly throughout the population.
The Government should guarantee a basic standard of living for everyone(apex)