Reference no: EM13812721

Capitalists' effects towards society.

Capitalism is an economic system, which is known for the multiplying of wealth for the prosperous and the decreasing of wealth for the underprivileged; Adam Smith developed this economic and political system. Capitalism as an economic and political system has played both roles of being a curse and a blessing. With all the benefits that capitalism provides to society, in my candid opinion it has been more of a curse than a blessing to society. This paper is going to delve into why capitalism has impacted society negatively than branch of to the positive effects.

First and foremost, Capitalism as an economic system has brought about social divisions. When talking about capitalism and social divisions the first point that most people in society will agree to be that Capitalism allows "the rich to get richer and the poor to get poorer". This system through the concept of the "invisible hand" has allowed a few rich people to control the wealth of world. This in turn has created inequality in society. It has slowly eroded the middle class by exporting jobs to countries where the labor is cheap. This has brought severe hardships to through unemployment.

Whilst capitalism extols the free market enterprise as the best economic system in the world, it fails woefully to care about the labor force, especially the less privileged. Capitalism is all about profit margins and nothing less.

Secondly capitalism as mentioned numerous times, makes the rich richer by swallowing up small businesses. Anytime a small business is trying to grow and develop due to capitalism society only gives small business' two options to either join forces with larger corporations or they get swallowed out of business.

With Capitalism in the business realm one mans loss is another mans gain, but to be more specific one poor mans loss is a rich mans gain. This saying is valid and causes social division because the rich i.e. C.E.O of major corporations and so on are increasing their wealth and using it to oppress the poor. For a rich man to become successful in the business realm they must live off the unsuccessful living of a lower class human being. Therefore, the truth behind this all is that your surrounds certifies your character, in others once a poor man surrounds himself with civilians of the rich class it will mold them into the rich class. Also, the negative affect of capitalism towards society is the income inequality, in other words the wide gap income between the rich and poor. Capitalism differentiates human beings in society by wage brackets.

It was once said that what sow is what you reap, in other words if you work hard to develop your social division in order to be successful it will eventually come to pass, but how about those whom were born into a successful life? Capitalism is usually frowned upon by hard working civilians whom get negative feedback due to the reasoning that people who lack hard work and knowledge in today's day and age usually carry high sufficient jobs which pay extremely well due to fact that it is an inheritance. This is extremely sulked upon by the lower class because they were not privileged like others whom carry that opportunity, they maybe as hardworking or even more hardworking than people whom have that opportunity but they are still getting paid less sometimes even way less all because of capitalism.

Capitalism is pretty sad because people in the lower class whom may have the right knowledge and strength to better a corporation and equip astounding ideas usually will not be heard due to their class in life, also because they did not receive the same opportunity as someone whom was born into a rich class family. Inheritance infringes capitalistic ideals of allocation according to productivity; it allows rich children to enjoy their parents' wealth, which then allows the avoiding of economic productivity.

This allows them to grow up and inherit their parents millions and continue the family legacy. Due to family inheritance it limits the jobs for civilians because people who work hard in school and then is forced out to the workforce to look for a job struggle to find a job or tend to work a minimum wage paying job because corporations owners who tend to have family members under them mostly pass on positions to family with or without education. Why?

Some might ask, well some people believe that keeping money within the family is better because it allows your family to grow financial and only get wealthier. This then causes inequality.

Due to the strength of capitalism on the side of the prosperous it allows the government to get corrupted. Some may ask how? Or why? Well what most civilians do not know is that the decisions of most politicians lay in the hands of the rich class such as C.E.O's of major companies. Why is that? Because owners and founders of major corporations are the ones funding politicians in the political realm. Therefore, for politicians to precede on with their decisions they most satisfy the needs of the wealthy in order to receive more funding.

This allows inequality because people of the lower class have no say, which then give the wealthy class more of an opportunity to stomp on the lower by making the lower class work harder for them and receive less income. Also, due to all of this housing can become a factor as well because neighborhoods where the less fortunate will reside in will not be improved or developed because the people of wealth will only agree to developing there neighborhoods or in other words the "rich neighborhoods". An example would be Richmond Hill and Jane and Finch, the government will not go out of their way to develop Jane and Finch knowing that major C.E.O's usual reside in places such as Richmond hill.

Capitalism is an economic and political system that allows for the creation of wealth and allows other individuals to own private properties. First off, capitalism allows people whom work hard to form large corporations branch out their company and increase the employment rate. This benefits civilians such as the young, old, and less fortunate because it gives them the opportunity to prove to the owners, C.E.O's and managers that even though they are less fortunate then others they contain the skills that is required for certain position.

Capitalism promotes a growing economy where competing industries produce higher-quality products to earn money based on the importance of their role in society. For example, if doctors were getting paid as much as Tim Horton employees there would be a shortage of doctors because citizens in society usually work hard for only the money. So by allowing a wage difference it allows people in the economy to contribute effort, which betters society but also gains wealth for themselves and others. Basically, social division motivates civilians to work hard and support the economy in a positive way.

If everyone in life was a mayor who will be flipping burgers at Mcdonalds and who will pump gas at gas stations? That's what plenty of civilians forget to ask themselves when talking about Capitalism. Capitalism allows society to contain a smart hierarchy but a hierarchy that allows everyone to still be able to survive but civilians need to learn where they financially stand and that is when scarcity comes into the picture because we cannot have everything we want. Because of scarcity and capitalism your wage level in life determines the make choices you make.

What people fail to notice is that even though Capitalism allows certain people to be on top of others it still gives everyone the opportunity to have income. As time goes by the income usually increases for civilians even though it is not as much as a president or a mayor it is still good enough for a regular living. A good phrase that is now mentioned in today's day in age is "act your wage" which essentially states if you accept how division in life you will be extremely happy and comfortable. Also, if Capitalism did not give higher positions to certain and well qualified individuals the world would be corrupted.

How so may ask? Well if a homeless man whom contains no knowledge of how to become a mayor or how to run a society was chosen for that position society would be corrupted. So if people in society did not follow the commands of one higher and well-educated source the world would be corrupted taking orders by uneducated individuals who contain no knowledge in the field they are in charge of.

To conclude, Capitalism is something that is frowned upon and I agree that it should be. Capitalism does give everyone the opportunity to become successful and rich but it is only easier for those whom have been born into a prosperous family. Capitalism is essentially known to make the rich richer and nothing less. This economic system may be a blessing to the rich but it is an extreme curse for the deprived.