Capitalism is bad because it allows people to accumulate as much wealth as they can irrespective of their current financial status. This encourages private owners to earn more wealth as the years go by. Entrepreneurs who will exploit the available resources for their personal gains will become richer and more powerful. Since capitalism allows children to have what their parents worked for, private businesses will remain dominant for years without facing any competition. They will be the few who can afford luxury and incur profits which will lead to exploitation of the underprivileged for as long as the business owned by a given family thrives. This would mean that only those who are born in a rich family can enjoy life while those who are poor will have unending misery in their lives.
When a business is flourishing, it will contribute heavily to the economy by employing workers and paying taxes. However, when businesses start incurring losses, workers will find themselves stranded without jobs. Having one company as the pillar for an economy is catastrophic as the likelihood of the economy dropping is high when the company ends up collapsing. When market demands change and a product that an organization was offering is no longer needed, there will be mass unemployment leading to low living standards.
The customer’s satisfaction and voice on goods production is lost because of capitalism. The insatiable desire to make huge profits will develop among companies that are heavily dependent on to supply a certain product or service. This will lead to a spike in prices as a particular business is the sole provider of the product. It will not matter how many complaints the customers might have but having no other choice, they will have to comply by the set prices. Companies abuse this privilege by only focusing on profit making rather than customer satisfaction.
It discourages investment by hindering the growth of new companies because the market is already dominated by the existing ones. The already successful entrepreneurs will make sure that they maintain their high standards in the market therefore, when a new company emerges, they will buy it or use corrupt means to run it out of business. This will discourage entrepreneurs from investing in production leading to the collapse of upcoming companies.
With no government intervention, there will be an increase in pollution which comes from production. Organizations will massively produce their products which leads to increased release of waste products to the environment. Profit is the only thing that capitalists care about ignoring the consequences their endeavors cause to the environment. This will affect the health of people and lead to excessive exploitation of natural resources. Companies will not be responsible for cleaning and taking care of the environment but rather leave this obligation to those who want the toxic residues removed. Capitalism does not bring a balance between production and ensuring that the environment is clean which will lead to negative environmental conditions for the people.
Humanity is lost as human beings develop the selfish desires to make money using all means possible. It will lead to an increase in corruption and oppression of the poor. Humans will stop helping each other as capitalism encourages people to focus on themselves and how they will make themselves rich. Those who are unable to support themselves like those living with disabilities will suffer as there will be no good people to offer them help. Humans become increasingly selfish as making money is what motivates them rather than their human nature to help others.
There are minimal chances for you to get a higher pay when you are in a capitalist nation. You are required to accept any pay that a company will offer you failure to which, you will be rendered jobless. Capitalism allows only one business to dominate in giving workers jobs making it a privilege for a person to work at that company. With more workers looking for jobs, an employee is forced to accept a low salary without any objection. You will be misused and required to work extra hard only to take a mere salary with you. Your rights will be ignored, and you will be in no position to complain unless you want to lose your job given that there will be enough that can take over your job.