Capitalism and Development
By: Omid Ghiyasian
Do you ever wonder why some first world countries such as United States have so much poverty within the country yet it is one of the richest countries in world? Their population is approximately almost 5% of the world's population and yet they consume around 20% of the world's total energy produced. One out of seven people in United States live below the poverty line, also due to the late recession, poverty rate in United States is increasing at a very high rate. Why is there poverty in a first world country such as United States?

Capitalism & Poverty in America

by Lauren Anderson
In this article, the author answers my question above. According to this article, Capitalism is a system where only geniuses can take advantage of the system. People such as Bill Gates and Warren Buffett who are two of the wealthiest people in world now. According to the author's opinion, Capitalism is deleting middle class in United States as they are being sucked into poverty.

Capitalism brings competition

by Chris Johnston
According to the author of this article, competition anywhere would bring demise to some small businesses. The author believes that big box stores such as Wal-Mart are good for the economy since it brings jobs to those who did not fir for job market. According to the author,competition and innovation should always be part of a society.

Making Capitalism More Creative

by Bill Gates
According to Bill Gates' article, we need a new type of capitalism. According to this article, capitalism has improved the lives of billions but it has left out billions more. He believes that those who succeeded should help out those who were left behind to help them get out of poverty.

Q&A: Why Michael Moore Hates Capitalism

by Bill Saporito
This article is about Michael Moore's opinion on capitalism and why he hates it. According to Michael's responses, he hates capitalism due to the fact that it benefits few rich people who make life miserable for the rest of people with their decisions which only profit themselves. He also hates the fact how these rich people are greedy and have done nothing to help others.

A little problem with capitalism

by Thomas Walkom
In this article according to the author, capitalism is unstable. The system worked for a long time until rivals came into place. Many collapsed while others were successful. As a result, the income gap widened throughout much of the industrial world. The rich got richer; the middling classes lagged; the poor got poorer. The author believes that free-market does not always work as they say,especially at times of great stress.

Has Capitalism Failed?

by Ron Paul
According to the article, the author believes that capitalism is to be blamed for the economic problems we face today. According to the article, free market does not exist anymore because most of those corporations which came out successful now control almost everything. The system is plagued with incomprehensible rules regarding mergers, acquisitions, and stock sales, along with wage controls, price controls, protectionism, corporate subsidies, etc.

Why Government Intervention Won't Last

by Michael Schuman
In this article, the author believes that capitalism is yet again a failure of a system. According to the author, every time there has been a perceived crisis of capitalism in recent decades, the government's economic role has swelled. But inevitably, this process gets thrown into reverse and the free market stages a rousing comeback. That's because governments can screw up economies just as effectively in fact, more effectively than free markets.

Privatization - Beyond Capitalism

by John Yu
In this article it is explained how privatization in capitalism is bad for a nation also how privatization is only beneficial for certain group of people and how it can backfire. According to the article privatization is the name given to the transfer of a business from government control to non-government control in a capitalist country.

Capitalism brings an end to capitalism

by Ed Martin
The author of this article explains how capitalism works and what kind of side effects it has on other people. One of the fundamental principles of capitalism is competition, the attempt to beat the other guy at grabbing more of the market for your products and run him out of business. The inevitable result of that is monopoly. And therein lies the fallacy of capitalism.

Capitalism and unemployment — a Marxist view

by Graham Matthews
The article is about Marx's view on unemployment in capitalism. According to the article, Marx argued in Capital, his major work on political economy, that capitalists are always in competition with one another to create larger profits. The main way that they compete is by lowering their costs, largely by increasing labour productivity. A key way to do this is to replace variable capital (living labour) with fixed capital (machines). Because the purpose of capitalist production is to maximise profit, whenever new technology is introduced it usually means a cut in jobs. This is because the capitalist can make as much (or more) than before, with fewer workers.

Capitalism and Democracy "Don't Mix Very Well"

by Paul Street
According to the author, capitalism and democracy are two completely different things. The author explains thoroughly how they differ. As it is stated survival of the fittest and inequalities in purchasing power are what capitalist efficiency is all about. Individual profit comes first and firms become efficient to be rich. To put it in its starkest form, capitalism is perfectly compatible with slavery. Democracy is not. Democracy's priorities are equality before the law, the right of each citizen to govern the decisions that govern his or her life, the creation of a civilization based on fairness and equity. Capitalism's priorities are inequality of return, profit for the suppliers of capital, efficiency of production and distribution, the bottom line.

Capitalism and Economic Growth

by Emily C. Sharbek
In this article, the author explains how the values of standard living has been improved by capitalism. According to the article capitalism has helped countries to decrease the rates of poverty since 1900s. Before the industrial revolution, 80% of the world’s population lived in abject poverty. By 1980, that number has fallen to 34.8% and by 2000, less than 20% of the population lives on less than $1 a day. In five years, the number is expected to fall to 10% if free trade is allowed to flourish.


Why is capitalism a world issue?

According to the articles above and in my opinion, capitalism is a world issue for many reasons. The type of competition it brings due to the free market of capitalism effects many people. A lot of people benefit from it but a lot more get crushed by it. For example Wal-Mart, the world's largest retailer destroys local business by its low prices because most local businesses cannot compete with Wal-Mart. Those who benefit from capitalism, become rich and powerful. Those who don't are mainly the poor class of the society. As the gap between poor and rich increases, the poor are dependent on the rich. But, what if the rich are most greedy? The only ones who get crushed by this system are the poor and usually in a country the amount of people who are rich is very small compared to the poor. Another issue with capitalism is the fact that everything is privatized, therefore, the government does not have much power to put a lot of pressure on corporate companies. In fact, the government is dependent on these corporate companies for many reasons. For example, the amount of tax they take from these companies is usually a high amount.

How has the issue evolved?

In the times period of my articles (2000-2011) capitalism has shown signs of weakness as for example, the latest global recession. The society for example in United States has started to decline capitalism as a system for its economy due to the high rates of unemployment and the influences that corporate companies have on them. Due to the increase rate of poverty in capitalist countries, first world countries are changing from capitalism to mixed economy since mixed economy is a type of system in which the distribution of resources is made by the market and some by the government. In other words, the government has more power over private businesses in mixed economy than capitalism.

My point of view on this issue:

In my opinion capitalism is the worst system to have for many reasons. I believe that too much of anything is bad for humans. If you smoke too much cigarettes, you get cancer and if you drink too much water, you suffocate. It is same as for freedom. Today corporate companies are unstoppable due to the fact that they had too
much freedom. No wonder why the economy and society are failing as unemployment increases, also why competition has been erased. If you give one person too much freedom, other people would lose their freedom because of this one person with all the freedom. Take a look at kings and emperors, they all had tremendous freedom where a peasant would be hanged if he dared talk against the one who had all the freedom. It is the same case as for today, the only difference between corporate companies and kings is that corporate companies do not hang you but they use the law which they themselves created against you. I believe democracy is the best solution to save societies and economies from capitalism.

The Interconnected-Web:

As an economic issue in a capitalist country the free trades and the market are controlled by the corporate companies. Since these companies are so big and powerful it is almost impossible to compete with them. Privatization and free market which are the things that capitalism provide have made these companies so powerful, even the government is powerless against them.

As for the society, capitalism is actually good for the society for a certain amount of time. Due to the fact that capitalism brings free-market system, a lot of people benefit from the system. But also due to the fact that there will be competition between these same people, not all of them come out successful as the other. As the time goes by competition decreases due to the fact that it becomes impossible to compete with those who already have everything. Those who were successful become rich and powerful and those who are not successful become poor and dependent on the rich. The question remains, do the rich care about the poor? I personally don't think they do. In conclusion, capitalism brings a huge gap between the poor and the rich in a society.

In a capitalist country, usually the rich use their power to often bend the acts of government to their selfish purposes. Political wise, the government does not have much power over the free-market because corporate companies decide whether who they want to trade with, as for now they shake hands with those who profit them the most.