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Wide Spread Of Capitalism: Best Modern Economic System

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Capitalism is now wide spread all over the world as an economic system of developed countries. It often goes together with democracy, which ensures a freedom of markets as well as freedom of thoughts. Capitalism itself is an economic system that includes using private property, processes of capital accumulation, selling and buying products on competitive markets as well as wage labor for workers. Capitalism is often considered to be the best modern economic system. However, it would be better to say that capitalism is world’s most wide spread economic system, because it has its own flaws.
For example, capitalism as an economic system is unstable and self-destructive. This fact remains the same true today as it was over 150 years ago, when Karl Marx and Frederick Engels described it …show more content…

Workers are usually more concerned more about insecurity and instability that periodically inflict working-class people. In addition, Marx says in Capital that "the relation between wage-labor and capital determines the entire character of the [capitalist] mode of production."
According to Marx, production is a heart of all human societies. In class societies, one class usually takes a product of the labor of another class for themselves. Capitalists make profits on this added value. Marx named this added labor "surplus labor," and therefore its extraction was called exploitation. Marx’s analysis of capitalism is centered on the way capitalists obtain surplus labor from workers, which is uncovered with Marx’s "law of value" or "labor theory of value."
Marx thought that every production system must regulate the amount of people’s labor spent on producing one thing versus another, so that society does not expend labor on things that are useless. Historically, people have been manufacturing different products because of their needs, fulfilling

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