Conservative and liberal answers are ok but I encourage everyone to remain as neutral as possible when answering this question.
2007-03-21 08:26:07 · 7 answers · asked by casey_leftwich 5 in Politics & Government ➔ Other - Politics & Government
Capitalism is an economic mode that favors private ownership of property. It is independent of any political govt ideology.
The advantages are private ownership, and the ability of the consumers and producers to collectively work out (using free trade and market economics) the proper balance of prices and availability.
The disadvantage is that without some external control, it is possible for the rich to abuse their economic power.
2007-03-21 08:36:46 · answer #1 · answered by coragryph 7 · 2⤊ 0⤋
The pros are the caitalism provides jobs for the poor. Jobs where they can over time learn skills to serve others and build their income. The pilgrims in Jamestown began as a Socialistic community and most died due to lack of motivation to work. But once they changed to private property and capitalism, most lived and the area flourished.
2007-03-22 15:15:49 · answer #2 · answered by Lighthearted 3 · 0⤊ 0⤋
Pros :
Freedom to produce and consume as you want.
You remain the owner of your produce.
Security.
Your own control over your life.
Cons :
Immoral because it exploits the workers. Workers do not get their due share.
Accumulation of wealth through generations, where later generations get it for free without working and still enjoying luxury and command.
IMO capitalism is as bad as communism.
2007-03-21 08:39:27 · answer #3 · answered by Sourav 2 · 1⤊ 0⤋
Capitalists get to ignore social responsibility in the name of profit. They don't have to have any national loyalty and can move your livelihood off shore in the name of profit. They can use Eminent Domain laws to take you property at will, in the name of profit. They can deceive you and sell tainted products like cigarettes, diabetes and heart attack producing processed foods without your knowledge, until caught, for profit. The last capitalist will sell the rope to hang the next to the last capitalist, for profit.
2007-03-21 09:39:15 · answer #4 · answered by Rja 5 · 0⤊ 0⤋
The positive side of capitalism is that by rewarding hard work and thrift, and intelligent investing, it ensures that everyone gets what they are truly worth, .
The downside for most people is that they get what they are truly worth.
2007-03-21 08:32:34 · answer #5 · answered by open4one 7 · 1⤊ 1⤋
Is it even relevent since we've been "thrust" into globalisim by both parties?
2007-03-21 08:36:20 · answer #6 · answered by ? 2 · 1⤊ 0⤋
Pros: Rewards creativity and hard work.
Cons: Stifles creativity and hard work.
2007-03-21 08:30:16 · answer #7 · answered by LittleLamb 2 · 1⤊ 0⤋