why is capitalism a harm to the economy????

Question

i have a college progect on this....so i need u guys to help me out.....if u got any sites..just put the links....

thank you...

Answer 1

Capitalism has met with strong opposition throughout its history. Most of the criticism came from the left, but some from the right, and some from religious elements. Many 19th century conservatives were among the most strident critics of capitalism, seeing market exchange and commodity production as threats to cultural and religious traditions. Some critics of capitalism consider economic regulation necessary in order to reduce corruption, negligence, and a slew of other problems they attribute to free markets.

Prominent leftist critics have included socialists like Karl Marx, Frantz Fanon, Vladimir Lenin, Mao Zedong, Leon Trotsky, Antonio Gramsci and Rosa Luxemburg and anarchists including Benjamin Tucker, Lysander Spooner, Pierre-Joseph Proudhon, Mikhail Bakunin, Peter Kropotkin, Emma Goldman, Murray Bookchin, Rudolf Rocker, Noam Chomsky, and others. Movements like the Luddites, Narodniks, Shakers, Utopian Socialists and others have opposed capitalism for various reasons. Marxism has influenced the creation of social democratic and labour parties, which seek change through existing democratic channels instead of revolution. These parties believe that capitalism should be heavily regulated rather than abolished. Many aspects of capitalism have come under attack from the relatively recent anti-globalization movement.

Some religions criticize or outright oppose specific elements of capitalism. Some traditions of Judaism, Christianity, and Islam forbid lending money at interest, although methods of Islamic banking have been developed. Christianity has been a source of both praise and criticism for capitalism, particularly its materialist aspects.[54] The first socialists drew many of their principles from Christian values (see Christian socialism), against "bourgeois" values of profiteering, greed, selfishness, and hoarding. Christian critics of capitalism may not oppose capitalism entirely, but support a mixed economy in order to ensure adequate labor standards and relations, as well as economic justice. There are many Protestant denominations (particularly in the United States) who have reconciled with — or are ardently in favor of — capitalism, particularly in opposition to secular socialism. However, in the US and around the world there are many Protestant Christian traditions which critique or even outrightly oppose capitalism. The Indian philosopher P.R. Sarkar and founder of the Ananda Marga movement is another critic, with his Social Cycle Theory. His proposed solution is the Progressive Utilisation Theory

Some problems claimed to be associated with capitalism include: seemingly unfair and inefficient distribution of wealth and power; a tendency toward market monopoly or oligopoly (and government by oligarchy); imperialism, various forms of economic exploitation; and phenomena such as social alienation, inequality, unemployment, and economic instability. Critics have maintained that there is an inherent tendency towards oligolopolistic structures when laissez-faire is combined with capitalist private property. Because of this tendency either laissez-faire, or private property, or both, have drawn fire from critics who believe an essential aspect of economic freedom is the extension of the freedom to have meaningful decision-making control over productive resources to everyone. Economist Branko Horvat explains, "it is now well known that capitalist development leads to the concentration of capital, employment and power. It is somewhat less known that it leads to the almost complete destruction of economic freedom."

Near the start of the 20th century, Vladimir Lenin claimed that state use of military power to defend capitalist interests abroad was an inevitable corollary of monopoly capitalism. This concept of political economy concerning the relationship between economic and political power among and within states includes critics of capitalism who allege the system is responsible for not only economic exploitation, but imperialist, colonialist and counter-revolutionary wars, repressions of workers and trade unionists, genocides, massacres and so on. For example The Black Book of Capitalism concludes that capitalism has killed approximately 147 million people between 1500-1997.

There are environmentalists who claim that capitalism requires continual economic growth, and will inevitably deplete the finite natural resources of the earth, and other resources utilized broadly. Those environmentalists, such as Murray Bookchin, have argued that capitalist production passes on environmental costs to all of society, and is unable to consider its impact upon ecosystems and the biosphere at large.

Some labor historians and other scholars, such as Immanuel Wallerstein and Marcel van der Linden, have also argued that unfree labor — the use of a labor force comprised of slaves, indentured servants, criminal convicts, political prisoners and/or other coerced persons — is compatible with capitalist relations.

Answer 2

Teachers often ask students to write papers defending a point of view that is different what is generally accepted as the correct point of view. This is a good way to develop critical thinking skills. The same is true in debates - you often end up assigned the opposite side of your true beliefs, yet you need to be able to support the other side. Socialism looks great on paper. A little research should give you a lot of good points for your project.

While I do believe strongly that a capitalistic economy is to the benefit of most, there are the dangers of overselling and overdoing in a capitalistic economy. Products are pushed, lies are told, medications are marketed before they have been properly tested, etc. You could take that approach.

Good luck!

Answer 3

There used to be a joke, in the former Soviet Union, to the effect that capitalism is exploitation of people by people, whereas communism is just the opposite.

Whether capitalism "harms" an economy or not is a matter of opinion--and not just about economics. People's ideas about politics, religion, and our natural sense of justice come into play when we consider your question.

I suppose you could say that capitalism helps a national economy by increasing productivity. It is difficult to argue that GNP, and growth of GNP are both a lot higher in capitalist countries than in communist ones. You could also argue that the cost of the growth is loss of control over the economy because of foreign investment. Given how much money the USA and other developed nations owe overseas (especially directly and indirectly to the Peoples Republic of China) the boast of success rings a bit hollow. Furthermore, many socialist countries do poorly because of sanctions, and the fact that the country was in a shambles in the first place when socialism came in. Cuba and Viet Nam are examples of this.

People who oppose capitalism do not deny the wealth that is generated, but they assert that it comes at the expense of exploited workers. Given the push that many big unions have, the argument rings a bit hollow.

Some people also argue that the wealth from capitalism is unequally distributed.

Maybe the prof is just trying to make you think, but I think a lot of people will answer your question based on their own values and beliefs.

Answer 4

Couldn't you talk about how if your country is the only capitalist country, then you would have problems competing in a global economy where other countries have cheaper labor? Also, for more ideas, you may want to post your question on a site with only college students, like www.collegeosity.com--they have a section where you can ask college students for help with things like homework (just go to the Free Speech section). Also, they are having a raffle right now where for every item you post on the site, you get a chance to win $250. Good luck!

Answer 5

CAPITALISM is the most successful wealth-creating economic system that the world has ever known; no other system, as the distinguished economist Joseph Schumpeter pointed out, has benefited "the common people" as much. Capitalism, he observed, creates wealth through advancing continuously to ever higher levels of productivity and technological sophistication; this process requires that the "old" be destroyed before the "new" can take over. Technological progress, the ultimate driving force of capitalism, requires the continuous discarding of obsolete factories, economic sectors, and even human skills. The system rewards the adaptable and the efficient; it punishes the redundant and the less productive.
The international capitalist system could not possibly survive without strong and wise leadership. International leadership must promote international cooperation to establish and enforce rules regulating trade, foreign investment, and international monetary affairs. But it is equally important that leadership ensure at least minimal safeguards for the inevitable losers from market forces and from the process of creative destruction; those who lose must at least believe that the system functions fairly. Continuation of the market or capitalist system will remain in jeopardy unless considerations of efficiency are counterbalanced by social protection for the economically weak and training/education of those workers left behind by rapid economic and technological change.
Many political leaders, business executives, and scholars, especially in the United States, dismiss concerns about the future of global capitalism. The world economy, they point out, has become market dominated, and free markets can successfully guide the global economy to ever higher levels of prosperity and stability. According to this argument, the failure of the former command economies and the closed economies of the less developed countries caused governments everywhere to turn toward market solutions to economic problems. Among developed countries, deregulation, privatization, and other reforms have reduced the role of the state in the economy and have led many to proclaim the triumph of international capitalism and the economic ideas on which it rests. This belief in the secure victory of liberated capitalism may turn out to be valid, but it is important to recall that the world passed this way once before in the laissez-faire era prior to the outbreak of World War I and the subsequent collapse of that highly integrated world economy. Although the threat of another major war is very small, other developments could bring down or at least seriously damage the contemporary international capitalist system. As the revolt against globalization in the United States and other countries reminds us, capitalism creates its own internal enemies.

Answer 6

liberal propaganda not withstanding, capitalism is what made the US a superpower. What has brought down the US is: 1. Greedy Rich people, 2. Stupid middle class people 3. lazy, irresponsible, reckless lower class people. The Greedy people lie and manipulate for their own gain, the middle class work and believe what they are shoveled by the bought and paid for press, and the lower class people do anything they feel like, regardless of the harm to themselves to others. Capatilism is not the problem, Human nature is.

Answer 7

Get rich quick schemes in the capitalist business world, (buyouts, IPOs, conglomerates, acquisitions, mergers, and the stock market), do not actually work. Remaining solvent does not actually exist within false economics capitalism.

Profit existing in the capitalist business world, or millionaires existing within capitalism, is pathological deception committed by the 21 organizations spying on the population with plain clothes agents, (with covert fake names and fake backgrounds).

Actual economics is the persons paying the monthly business loan payments of companies voting at work in order to control the property they are paying for.

Capitalism is the psychology of imaginary parents, false economics, and the criminal deception of employees that are paying the bills (including the stocks and bonds, or shares) of companies.

Anti-democracy republicanism is the psychology of imaginary parents, and false government.

Answer 8

The grimy hands of church workers?? WOW nice... I know for a FACT that the money that the church I went to in Toronto was using the money to BUY things (oh and pay their bills because it costs money to have electricity, water etc) Or do you think churches get THOSE for free?? The church also (and this is a FACT) had an outreach program where they fed and clothes homeless people in downtown Toronto (I bet THOSE homeless people are glad for the church and the generous people in it who give their money). The church also supported an orphanage in Africa, had missionaries in South America who were helping to build a school and a hospital. So before judging others, perhaps you should look at where YOUR money is going because I highly doubt it is to helping others.

Answer 9

To which economies? The non-capitalist ones?

Does your project mean to ask if the popularity of capitalism will damage other unrelated values?

Answer 10

About the only thing I can think of that would be detrimental would be the skewed distribution of wealth. I guess it could make people greedier, if there were no protections on labor or the environment then it would end up like China, full of sweatshop and pollution.

Answer 11

Sorry, but the only correct answer is that it is NOT a harm to the economy. The world's strongest economies are capitalistic economies.