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Does Capitalism Affect Everyone's Chances For A Fair Society

575 Words3 Pages

Sam Alken
Academic Writing Essay
IB English, Mrs D. Tattersall
October 21, 2015
How does capitalism affect everyone’s chances for a fair society?
“Capitalism is an economic system in which trade, industry and the means of production are privately owned and operate via profit and loss calculations throughout the price system”. This means that in the economic system of capitalism, which is the most widely used and recognised economical system in the world, especially in developed countries, everyone can earn and own whatever they want and trade with whoever they want.
The above mentioned is good right? It certainly means that everyone is in a way economically “free”, but it is definitely not beneficial for everyone. The really rich one per cent of the worlds’ population profits the most from this system, while the poor(er) people do not necessarily profit from the system, at all. …show more content…

This because people really “want” to work, because the more and harder they work, the more money they will get. It also stimulates a countries’ economic growth, mostly regarding GDP. If there are a lot of multi-national multi-billion USD companies in your country, your economy will get an enormous boost thanks to trade. Economic growth also greatly increases wealth for the people in your country, and this automatically results in a higher standard of living, which is good for everyone, not only for the one per cent luckiest. Capitalism, which in the essence means economic freedom, also stimulates and improves the rate of political freedom in a country. If governments set every price, which happens in the less-used economical system of communism, they will automatically have to power to do whatever they

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