CAPITALISM: Is It GOOD or BAD?

Question

I never really knew much about capitalism. But then saw an advertisement for an adulterous website. Basically, a site, that's dedicated to helping and encouraging people to have affiars. While the people running these sites profit of this. And make good money.

Is that not capitalism? I mean that's kind of horrible. And there's a lot of these kinds of site out there. So now after seeing that, I don't know what to think about the whole ideal of capitalism.

Give me your opinion on the subject. Please.

ONCE AGAIN FOLKS, JUST A CURIOUS QUESTION.

Answer 1

The pros and Cons: Pro- it rewards people who are disciplined to get off the sofa. Society has enough money from taxes from trade and income to look after itself without waging war, and commiting gross iniquities, such as murdering minority religions who don't bow down to the Great Leader, and selling their body parts to get money for the Leaders of the communist countries, etc
Cons: It fosters greed. The industrial revolution - expensive machines were bought to make textiles, something the average joe couldn't do or afford. The laborers resented the machines and became the Luddites. They smashed the machines. They were transported to the lands beyond the seas. They could no longer afford to live in Britian. They were the economic refugees of Capitalism in the Mother land.
Who are the economic refugees today? Maybe the suicides?

Answer 2

It seems to me that is more a matter of morals than capitalism. Capitalism is an economic system where the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and reinvestment of profits gained in a free market. Just because there is someone out there making money off of people that want to cheat doesn't make capitalism bad.

Answer 3

Capitalism is the only choice. Take your example, the product is offensive, but who should determine that it is wrong? By what standards would you use to shut down this website? And could those standards be used to shut down valid websites that offended some people? Would you shut down a web site promoting the virtues of Christianity because Muslims were offended?

I'll bet if you go back to this web page a year from now it will be closed from lack of interest.

I've provided a link below to help show you just what Capitalism really is.

Answer 4

Capitalism is an economic system based on private ownership of the means of production. It is grounded in the concept of free enterprise, which argues that government intervention in the economy should be restricted and that a free market, based on supply and demand, will ultimately maximize consumer welfare. Those who own the means of production are usually the ones who are wealthy.

From what I learned in my sociology class, capitalism's main focus is to maximize profit while minimizing spending and that can lead to the exploitation of workers such as firing off people whose jobs can be easily replaced to raise the salaries of those at the top and decreasing benefits for workers. People nowadays have to work longer hours just to make a living wage compared to the past. They may get less vacation time and sick days.

Answer 5

Capitalism has lifted more peopel out of poverty than any other economic system ever devised. That's good. However, as you point out, there is no moralism to capitalism. It's ok to sell toys with lead paint, or even run an asassination service under pure capitalism. Its strengths far out weigh its faluts, but capitalism needs strong regulation to ensure a "level playing field" and protect the health and well being of the general populace.

Answer 6

Sure porno sites are capitalistic. I defined capitalism in it's simplest form for students "The endless pursuit of profits at all cost". When you think about this, it's actually scary. Now, deep Marxism is much more than this, but it is what his point boils down to. He saw that the upperclasses gained wealth via production control and sales thus profit. That being said, your very first question is it good or bad?

Well, for starters, capitalism won out a long time ago. We now clearly that coporations/organizations seek profit at the cost of human lives (i.e. prescription recalls, Ford/Firestone tires scandal, Tar Creek, Love Canal, Superfund sites, and on and on), also at the cost of the environment. Understand that there is no global EPA, and when our companies moved overseas it was just for sweat shop labor, it was also to pollute ecosystems aggressively, and then move out to another location if they have problems and start over. Capitalism essentially as not just invaded the economy, but understand now that religions, education, and government now all run on a business model with bottom lines, fund generation, budgets, and layoffs like any organization in the truly public profit seeking sectors.

Considering many, including myself say capitalism won, the bigger question is what's next. You will get a variety of answers from we are now in an era called: consumerism, culturalism, postculturalism, global, postmodern, and on and on within sociology. However, it was Marx's himself who said the citizens in society have become obsessed with buying products and aiding capitalism in what he coined a "fetish for commodities."

If you may recall the long lines for everything from concert tickets, sport events, Ipods, CD, new video games, Harry Potter, and on and on, then we must conclude that Marx saw in his time and for future ones that the very people held down by capitalsim aide it buy purchasing products that are made at the lowest prices possible but sold at a rate as high as the market could bear if not more.

In summary, capitalism evolved thru time to dominant many of the major institutions in societies. Particularly, the last couple hundred years has seen a boom to doom process with capitalism.

Answer 7

I should clarify: This essay I refer to supports capitalism (as I do) as the freest and most correct economic system to encourage and maintain freedom.

Excerpts from the article below - (read the whole thing, it really puts it all into perspective).

“Socialism, Free Enterprise, and the Common Good”

To summarize: We are all entitled to call ourselves socialist, if by the term we mean that we are devoted to the early socialist goal of the well-being of all members of society. Reason and experience make clear that the means to achieve this is not through central planning by the state, but through political and economic freedom. Thomas Aquinas had an axiom: bonum est diffusivum sui. “The good pours itself out.” The good of freedom has indeed poured itself out to the benefit of humanity.

Answer 8

It is a good concept, however as with any system, can be, and is abused.
The common good is subverted to the good of the few.