Benefits Of Capitalism

INTRODUCTION Economic systems and technology have always been viewed as two of the most powerful implements that can great affect any given society. Truthfully, the growth and decline of a nation have always been associated to the type of economic system that it employs and the presence or absence of certain technologies that the place currently have. At this point, it is vital to take note that every country has its own unique economic system. These systems may have certain similarities with one another but it is often altered and reformed according to the needs and desires of the citizens of the country. These systems have also helped shape the social structure of the country they are serving.
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It was meant to help a country enhance its economic growth. It was also meant to place limited control to the government and help the country gain more personal freedom and be more democratic. Achieving all three of this apparently occurs only in theory. The Cases of China and UAE are good examples of this. While capitalism has certainly assisted their respective countries achieve impressive economic development, the opposite effect of the second and third benefits have, though, occurred instead. Capitalism has increased the power of the government and has strengthened the ruling party’s control over the lives of its people. Additionally to that, the basic rights and the civil liberties have also become limited. Freedom of expression has been restricted especially if it is against the government. The economic disparity between the rich and the poor members of the society has grown and became worse. This means that both China and UAE have failed to reap these benefits of capitalism. Moreover, it has created an idea that economic growth brought about by Capitalism comes with certain prices which includes establishment of more power for the government and restrictions of the basic rights of the ordinary people. Furthermore, the situations in China and UAE have shaped the knowledge that only the rich and the powerful benefits from capitalism and that the only things that the poor and average people can get from this economic system are restrictions, suffering and oppression. Given those things, it is thus not a wonder why people from various parts of the world are against the idea of capitalism. This is despite the fact that many of them know that theoretically speaking; this economic system was supposed to assistance all the members of the