Positives and Negatives of Capitalism

So… its Sunday morning and I just came back from Chivante’s party (which by the way was totally fun), and im in a good mood to blog. The blog for this week creates a thinking dissonance in me because I’m all about “LONG LIVE CAPITALISM” so I’ve researched it for expertise fact

The pros J of capitalism are almost endless, but what is Capitalism? Capitalism is an economic system comprised of no nosey government and private ownership and distribution of goods and services.  It one of the most famous words priced in the US. It is mentioned in Sociology, business studies and European & American history. Another pro is that it allows for political freedom because government cannot set market prices. It encourages business owner to be hardworking and creative. It allows for economic growth and social mobility to higher standards of living. Without being to opinionated , this is why America was the center of invention in the 19^th century.

One of the Cons L is that monopoly power may occur and the first case in US history was John Rockefeller (heard of him). In the 1890’s, he ran each and every oil company out of business and had a monopolized rule over the oil industry. An example of monopoly in today’s era would be the big name store like walmart, who can afford to reduce the prices of their good below the normal prices. What does this led to it creates social division of wealth. Also, wealth becomes inherited and way harder to achieve.

Regardless, I like Capitalism. It is the closest thing to Darwin’s survival of the fittest, which I definitely belief in, and an environment for mind blowing creativity.

http://www.economicshelp.org/blog/5002/economics/pros-and-cons-of-capitalism/