Here are some arguments against capitalism examined. Here they are;
1. One argument out there is that capitalism has failed. Alot of socialists and communists would would argue with the fact that the global recession was caused by the collapse of the housing market. The question asked would be was the fall of the housing market caused by the failure of capitalism or the government abusing it? What the socialists, statists, and communists don't realize is that the housing market has been controlled and manipulated by the government. It is the regulations imposed by the government that caused the housing market to fall, not the free market.
2. Another argument is that under a capitalistic system, the rich get richer and the poor get poorer. The poor are "fooled" into believing that they can gain under this system. Their wages hold them in place and the moment they are unemployed, it's gone. Well, if an individual is diligent and works hard in a capitalistic economy, he will get rewarded by having a raise in his salary or get promoted. If a person doesn't put effort in his job, he would either get fired, demoted, or will not get a raise in pay. Here is another fact, in the United States, the poorest person is richer than 90% of the entire world. The poorest Americans are far better off than the average citizens of socialists/communists societies such as the former Soviet Union, Cuba, and North Korea.
3. One argument is that a capitalistic systems are unplanned, leading to crashes and depressions. Does the economy go through hard times? Absolutely. But there is no other system in world that has raised the standard of living and the quality of life than capitalism. What has Socialism done to improve the way of life in Cuba and North Korea? Nothing! In Cuba, the country is still in the 1950s and people make enough money only to buy a chicken for their family. In America, if a person worked minimum wage during the summer, he can buy a laptop computer, a playstation 2, a radio, television, food, an ipod, a GPS, and alot of other things.
Thursday, Nov. 15, 2018
2 hours ago