Capitalism affects everyone in a different way; it affects the quality of life one can have. Capitalism is morally deficient economic system in today’s society because it creates an unequal opportunity for citizens, causes a gap in the economic classes, has reversed the consumer- retailer relationship from a ‘push’ to a ‘pull’, leads to unfair free trading with other countries, and loses jobs for the hard working United States citizens. Capitalism creates an unequal opportunity for citizens to obtain an equal education, equal housing, and equal jobs opportunities in society. A symbolic analyst according to Robert B. Reich, in “Why the Rich Are Getting Richer and the Poor, Poorer” is in support of higher education. People with a higher education are not only able to help save their country, but they are able to help save the world.
They may also look at stereotypes the impoverished have towards the wealthy. Symbolic interactionists generally look at the face-to-face interactions between individuals. From a conflict theory perspective, poverty is imposed; reflecting unequal power among social groups, and it will continue to be imposed until those harmed by it manage to force a change. Conflict theory would also argue that the explanations offered by functionalism and symbolic interactionism theory are themselves part of what sustains poverty, as they conceal its true origins and encourage the poor to accept existing social arrangements rather than organize to combat them. Another important question to ask about any explanation or policy proposal is "who benefits?” It is said to have been a principle of criminal investigation in Rome that those who stood to gain from an event were probably the ones responsible for it.
Believers and people who practice both socialism and capitalism have heavy criticism of each other. Socialists for example believe that Capitalists produce a system where there is a clear distinction among the rich and the poor. The system is believed to encourage exploitation of workers, so that the business owners become wealthy. These business owners are the ones in many cases who influence policies, by using their wealth to getting what they want, by funding political campaigns, for example. Capitalists, on the other hand, believe that Socialists deny people their basic rights of freedom of decisions and opportunities.
Many may argue that the falling economy and the wealthy not wanting to share their shares is to blame for the raising rates of poverty here in the states. Poverty of course, has a lot to do with money and income but underneath that it is has a deeper story. Stories of how different people are suffering from it and how they are managing to live day by day. It almost seems as if it’s a foreign nation of its own and you only understand the concepts if you are in it. There is no doubt that here in America we are dealing with one of the greatest economic downfalls.
As the imperishable property of money and the selfishness of people, some people try to accumulate the wealth while some people cannot get enough. This creates economic inequality, which leads people to become irrational and think they are more valuable than the others, which violates the law of nature. Therefore, a medium institution or power is desired for preventing the problems of economic inequality and helping to allocate and distribute the resources evenly to the people. This is one of the aims of the government. Second, punishment is difficult.
Justice, Capitalism & Libertarian Socialism Justice is one of the most essential virtues to modern society. It is through justice that our rights are protected and wrongdoers are punished. We also find that most modern societies are based on capitalist economies. Capitalism is a political economic system in which individuals or business corporations own and control much or most of the country’s capital. While these two are both features in today’s society, capitalism and justice are incompatible with each other.
Despite what many believe it is a fact that social hierarchy affects everybody’s wellbeing, bliss, and how long individuals live. It is commonly stated that money is the root of all evil. This can be proven on the basis of income being the biggest injustice in a society
However industrialization also brought human suffering, unhealthy working conditions and pollution to the society. This overall led to a huge wealth gap between the rich and the poor. Many different philosophies emerged in hopes to solve poverty and to ensure peoples happiness. Laissez-Faire Liberalism was planning to make a capitalist society that supported the idea “the survival of the fittest”. This believed that humans would progress without any regulations.
In recent times, there is a growing concern of wealth inequality in America. This has really drawn criticism and challenge to capitalism as the model of socio-economic structure. Debates surrounding this issue are often traditionally addressed through two models: communism and capitalism. Karl Marx, in his work, “The Communist Manifesto,” criticizes capitalism for it’s preaching of individualism and competition, which leads to the exploitation of the working class thus resulting in further antagonization between socio-economic classes. Marx ends his criticism by offering up the complete abandonment of capitalist system in favor of a communistic system in which socio-economic autonomy is in the hands of the state.
However, there are people who are feared it will not be good and has an opposite impact for all concerned. It looks like a win-to-win scenario; it creates a good amount of jobs needed and reduces tariffs that benefit all members involved, but some are concerned about the agreement will benefit some specific groups and some will not. The problem is while the cost of labors in the US is expensive the labor’s cost of neighbor countries is cheaper; this leads to the jobs loss for the American people and workers. For example, Columbia is still one of the most dangerous places on Earth because of the government and its persecutions for those who against it; just like Chinese government. Next, the working condition for Columbian workers is poor and that concerns of some the human right group.