2007-02-28 07:10:09 · 10 answers · asked by xraytech75 2 in Social Science ➔ Economics
Disagree! Capitalism promotes freedom, responsibility, and growth. Socialism does the opposite. For example, Ireland recently cut their government spending substantially in favor of a more capitalistic approach - putting the money back where it belongs - in the people's pockets instead of government social programs, etc. and the economy skyrocketed!!
Bigger government is not only ineffective, it hurts everyone!!
For those that argue, capitalism promotes greed, it doesn't. Greed is part of the fallen, sinful human nature and can be found in every style of government from communism to socialism to capitalism.
2007-02-28 07:17:11 · answer #1 · answered by Anonymous · 0⤊ 1⤋
Capitalism has developed through the ages. It was brought together by concepts of christianity and the family and is so closely intertwined with money and morality that it would be very difficult to dismantle.
It has a detrimental effect because it is all consuming and at the same time encourages
competition and individualism. Thereby creating an underclass of poverty.
2007-02-28 15:24:42 · answer #2 · answered by Anonymous · 1⤊ 1⤋
Capitalism can have a detrimental effect in that it tends to foster greed and selfishness, rather than charity, love, grace, and sharing. Competition is not bad in and of itself, but the mindset that says I must win at all costs is harmful. If competition fosters one to work towards excellence with integrity then that is a good motivation.
2007-02-28 15:15:01 · answer #3 · answered by Heatmizer 5 · 0⤊ 0⤋
Sure it does. But it also has positive effects. Some detrimental effects are the perpetuation of poverty, the creation of animosity and imperialism, and the creation of vast differences in social status. Some positive effects are the promotion of innovation through competition, the freedom to acquire goods and services quickly and efficiently, and the incentive for people to educate themselves.
2007-02-28 15:20:18 · answer #4 · answered by Anonymous · 0⤊ 0⤋
The statement is nonsense. Capitalism allows the mobilization of many individual resources (both capital and labor) to address society's problems. Since there is no compulsion at any point in the process, every transaction in a capitalist system creates value.
2007-02-28 15:16:29 · answer #5 · answered by Anonymous · 0⤊ 1⤋
Disagree. The free market drives competition. Without competition (and opportunity) there is no motivation to work hard, do a good job or have goals. The end result is shoddy workmanship, loss of freedom, higher dependence of the populace on the government to support it, and discontent.
2007-02-28 15:15:00 · answer #6 · answered by martinmagini 6 · 0⤊ 0⤋
Every economic system has positive and negative effects. I don't know if capitalism is the best or not, but I can tell you that there is no such thing as perfection in economics.
2007-02-28 15:12:54 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Perhaps your question is biased. And it invites biased answers.
No economic system is perfect. And every economic system has both positive and negative effects on society.
The only issue you can reasonably argue about is which economic system is better on the balance, when you take into account both positive and negative effects of each system.
2007-02-28 15:18:34 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Capitalism creates a society based on greed. For the greedy, that's good I guess. Unfortunately, it leaves behind so very many poor and neglected.
2007-02-28 15:13:48 · answer #9 · answered by Anonymous · 1⤊ 1⤋
don know
i'll answer that when u get me out of communist china. btw the censor sitting next to me wants to come over as well.
2007-02-28 15:13:15 · answer #10 · answered by Anonymous · 1⤊ 0⤋