The Benefits and Shortcomings of Capitalism

The Benefits and Shortcomings of Capitalism

What makes capitalism wrong is that it eventually leads to an unbalanced distribution of resources and wealth. A good society should have people caring about each other but with capitalism, those who have wealth will continue accumulating it making them better than those who lack. When a certain group of people make more money than others, it will lead to pride which will make them mistreat those who are below them. This continues for generations as capitalism allows entrepreneurs to pass down their wealth to their children. When a certain family dominates in accumulating wealth, they will mistreat others for long periods of time.

For a company or entrepreneur who

For a company or entrepreneur who knows that the whole community depends on them, arrogance grows, and their workers suffer in the process. As a worker, you will be forced to earn a low salary given that there is no other business that will need your skills. You will not be allowed to air out your complaints as doing so can easily get you fired. When an organization that grew over time and became the sole provider of employment collapses, not only will all the workers lose their jobs but also afterwards there will be no company to provide employment. Workers will be forced to live without any source of income and their skills are going to waste.

Inequality also comes from businesses dominating

Inequality also comes from businesses dominating the market after achieving success. As a consumer, you will be required to pay for whatever price an organization that dominates in selling the product you want sets. In a country where a certain product is attached to a certain company, the price of the commodity will skyrocket as the customers will have no other choice but to abide. For a price of a commodity to be controlled, there must be another alternative that will make the providers sell at a cheaper price to have more customers. Capitalism can deny this advantage from customers when they have to rely on one company for supply and production.

The Benefits and Shortcomings of Capitalism

It is wrong because it derails the morals of people by making them inhumane and selfish. Capitalism erodes the minds of entrepreneurs making them greedy and selfish. Human beings are supposed to look after the needs of others and ensure that those around them are uplifted. However, with capitalism, a person only cares about the profits that they are supposed to incur. A person will care less about those around them but their sole objective is to realize huge profits. Entrepreneurs will use all the means they can to achieve this which might end up causing harm to others. They will have to maintain the high standards which encourage corruption and discrimination.

Capitalism is right because it provides a platform where people are given the opportunity to create their wealth and succeed in life. The main reason as to why someone would remain poor in their life is the fact that they were not given a chance to make use of their skills. Capitalism gives humans a chance to prove themselves by working hard to achieve the high status they wanted in their lives. It is a matter of a person utilizing this opportunity to climb the ladder of success. The starting point for all human beings is the same and a smart person will eventually make it in their life.

Since entrepreneurs are scrambling to make use of the opportunity that capitalism presents to them, the quality of goods and services provided improves. A person will ensure their product beats the alternatives in the market, making them more innovative and creative. You will have to do the extraordinary to have your product as the best in the market. With people trying to outsmart you for consumers to buy their products, you will need to creatively make your products stand out. You will have to use your talent, knowledge and skills to fulfill the needs of the consumers.

With more businesses fighting to satisfy what their customers desire, consumers will have many options on what to consume. There will be many high-quality products that are at the disposal of a customer. This will mean that all that will be given to them at a better price as a company will not wish to lose its consumers. You are given the freedom to choose whatever you wish and reject what does not suit your interests. Consumers will have products that are of improved quality at a much lower cost.

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