Wednesday, May 13, 2020

Capitalism Benefits And Drawbacks Essay - 823 Words

Capitalism: Benefits and Drawbacks Every year around christmas, a plethora of angry people proclaim the sins of capitalism. These people claim that America’s fixation on material goods and other key elements of capitalism completely destroy the true meaning of what is supposed to be a holy holiday. They cite the people suffering in other countries who make America’s products, as well as many other credible arguments against the morality of a free-trade market. What these people refuse to acknowledge are the benefits that capitalism has brought to this country as well as much of the outside world. This economic philosophy of free enterprise has provided the world with cheaper products, greater freedom, and many other great boons of prosperity. It is important to realize that even though people highlight the negativities of capitalism, it has done great things for this world. As an economic and political philosophy, competitive capitalism has great benefits as well as hor rible ramifications on the people who participate in this system. Capitalism is very beneficial to many populations in America, both directly and indirectly. An indirect benefit of free market nature of capitalism is that it attracts many diverse populations to capitalistic countries, causing many people to benefit from increased social mobility and civil freedoms. In â€Å"Corporate Capitalism and the Common Good† published in the Journal for Religious Ethics published on March 1, 2002, Thomas Ogletree explainsShow MoreRelatedBenefits And Drawbacks Of American Capitalism996 Words   |  4 PagesIn this social constructed economic system there are benefits and drawbacks to American Capitalism. Capitalism is the idea of a free market based economy wherein that economy is organized by individual people and companies rather than the government. 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