Capitalism is a system based on the greed of people to push competition, creating a system where people's dollars become their voting power and influence....Is it good that capitalism depends on such a basic part of man's nature (his self-interest)? Or is this a flaw because it reinforces greed in people which should not be encouraged?
2006-12-05 10:27:53 · 7 answers · asked by jdmack102 2 in Social Science ➔ Economics
As Adam Smith explained so well in the 1700s, a free market economy channels peoples' natural self interest into doing good for others and for society.
2006-12-05 13:40:56 · answer #1 · answered by KevinStud99 6 · 0⤊ 0⤋
Capitalism like any man made system is not perfect. But it is the better sysytem compared to the socialist system. Socialists talk loud about the common man in the street while enjoying the government money for the personal enjoyment for the idiots in the top notches of the party. The earlier Brezhnev wanted all american luxury items including the Lincon Continental car, separate reserved road for the party bosses etc while people remained very poor. At least better openness is their in capitalsit system as well as as freedom of expression. The theory men are born equal, same red blood flows etc are just slogans and not true.
Each individual is unique and have own potential. Capitalism consider this aspect better tahn any socialist system.
2006-12-05 19:00:30 · answer #2 · answered by Rammohan 4 · 0⤊ 0⤋
Capitalism is about creating value in exchange for profit. Is it wrong to receive money in exchange for something of value? Is it the money that bothers you? Would you feel better if you went to Walmart and exchanged a buffalo fur for a coffee grinder?..No one seems to remember that profit is generated by the value created. Capitalists create. So maybe you might not like greed or competition, but I doubt that stops you from buying things... Do you really think that we should live in a world where everybody just gives everything away to everybody else? Should we hand over our right to think and act for ourselves just so that we aren't perceived as greedy? Do not confuse self-interest with selfishness. Altruism is not a virtue. It is a pathway to an entitlement and victim mentality..
2006-12-05 18:52:12 · answer #3 · answered by All I Hear Is Blah Blah Blah... 5 · 0⤊ 0⤋
Ignorance runs amok here on Yahoo Answers yet again.
Capitalism is not based on greed, its a reward based system. I work hard today, I feed my family well. I work harder, I feed and clothe them well.
Capitalism is the only system that truly works, and its the only thing that can truly save places such as Africa. It provides money, or credits which in turn provide food, housing, medical care, etc.
Capitalism demands excellence and hard work, and continues to strive for growing technologies.
2006-12-05 18:34:43 · answer #4 · answered by jveretto0804 2 · 2⤊ 0⤋
So what's your answer. Yes Capitalism isn't a perfect system, but there has never been a successful system that didn't embrace it. Even China that stagnated for decades has seen the error of it's way. Capitalism has it's faults, but there is no better way to distribute resources to where they are needed. No human, or group of humans has ever been able to anticipate needs like the market. If you've got a better answer share it.
2006-12-05 19:21:27 · answer #5 · answered by last_defender 3 · 0⤊ 0⤋
Self-interest is the driving motivation behind everything in society. When humans work for their own benefit, the entire world benefits as well from their accomplishments. Without self-interest we would be nothing but wandering idiots trying to please eachother.
2006-12-05 18:35:17 · answer #6 · answered by kooljem8 2 · 3⤊ 0⤋
It's worth is infinite, just ask Allan Greenspan. It was his idea to expand the economy far and wide.
It is not a moral injunction.
2006-12-05 18:32:46 · answer #7 · answered by Anonymous · 0⤊ 0⤋