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The Pros And Cons Of Capitalism: An Economic System

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Capitalism is an economic system in which investment and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, rather than by the state. Although nowadays capitalism has been applied as a type of government in many countries, like any other policies it is not described as the absolute solution. So there are some views that estimate socialism as the better economic system since the socialism ensures equality for everyone. However, taken as a whole, usually capitalist countries seem to be more economically advanced and so on the premise that some drawbacks of capitalism are keep grappled with, capitalism can be seen as the best choice for now.
So far, capitalism society accomplished the most remarkable growth in material civilization among all the economic structures humanity ever experienced. Individuals under capitalist system gave full play to their personal desires without any suppressing, and they engaged in lively economic activities in every sector of society. Accordingly, full blown competition between individuals has started, and this opportunity opened up all sorts of possibilities. Under these circumstances, people who didn’t adjust to the rapidly changing business environment and trend were wiped …show more content…

The underlying problem is that the poor has had no proper chance to develop their potential ability. Human often only think about themselves, and the rich, as human, are not always altruistic. So for the people-oriented economic development, the excessive gulf between the rich and the poor should be bridged at the state level, and the old problems of sectional tension also should be improved in accordance with the right to dignity, respect and freedom of every people. Resolving these issues will result in the integration of human communities and the realization of ideal capitalist

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