All 26 Uses of
capitalism
in
Sophie's World
- Scrooge was the miserly capitalist in A Christmas Carol, by Charles Dickens.
Chpt 28capitalist = one who believes in an economic system based on private ownership of property and businesses with voluntary exchange in a competitive environment; or someone who is wealthy and benefits from such an economy
- But in Marx's own time, in what he called a bourgeois or capitalist society, the conflict was first and foremost between the capitalists and the workers, or the proletariat.
Chpt 28
- But in Marx's own time, in what he called a bourgeois or capitalist society, the conflict was first and foremost between the capitalists and the workers, or the proletariat.
Chpt 28capitalists = people who believe in an economic system based on private ownership of property and businesses with voluntary exchange in a competitive environment; or wealthy people who benefit from such an economy
- Marx was especially interested in the transition from a capitalist to a communist society.
Chpt 28capitalist = one who believes in an economic system based on private ownership of property and businesses with voluntary exchange in a competitive environment; or someone who is wealthy and benefits from such an economy
- He also carried out a detailed analysis of the capitalist mode of production.
Chpt 28
- But this is precisely where Marx aimed his criticism of the capitalist method of production.
Chpt 28
- Under the capitalist system, the worker labors for someone else.
Chpt 28
- In a capitalist society, labor is organized in such a way that the worker in fact slaves for another social class.
Chpt 28
- Many people still live under inhuman conditions while they continue to produce commodities that make capitalists richer and richer.
Chpt 28 *capitalists = people who believe in an economic system based on voluntary exchange in a competitive environment with private ownership of property and businesses
- In other words, the capitalist pockets a value that was actually created by the worker.
Chpt 28capitalist = one who believes in an economic system based on private ownership of property and businesses with voluntary exchange in a competitive environment; or someone who is wealthy and benefits from such an economy
- So now the capitalist invests some of his profit in new capital—for instance, in modernizing the production plant in the hope of producing his commodity even more cheaply, and thereby increasing his profit in the future.
Chpt 28
- But both in this and in other areas, in the long term it will not go the way the capitalist has imagined.
Chpt 28
- Marx believed there were a number of inherent contradictions in the capitalist method of production.
Chpt 28
- Capitalism is an economic system which is self-destructive because it lacks rational control.
Chpt 28capitalism = an economic system based on private ownership of property and businesses, and on voluntary exchange in a competitive environment
- Yes; it is inherent in the capitalist system that it is marching toward its own destruction.
Chpt 28capitalist = one who believes in an economic system based on private ownership of property and businesses with voluntary exchange in a competitive environment; or someone who is wealthy and benefits from such an economy
- In that sense, capitalism is 'progressive' because it is a stage on the way to communism.
Chpt 28capitalism = an economic system based on private ownership of property and businesses, and on voluntary exchange in a competitive environment
- Can you give an example of capitalism being self-destructive?
Chpt 28
- We said that the capitalist had a good surplus of money, and he uses part of this surplus to modernize the factory.
Chpt 28capitalist = one who believes in an economic system based on private ownership of property and businesses with voluntary exchange in a competitive environment; or someone who is wealthy and benefits from such an economy
- There are therefore increasing social problems, and crises such as these are a signal that capitalism is marching toward its own destruction.
Chpt 28capitalism = an economic system based on private ownership of property and businesses, and on voluntary exchange in a competitive environment
- But capitalism has a number of other self-destructive elements.
Chpt 28
- , …. what does the capitalist do then?
Chpt 28capitalist = one who believes in an economic system based on private ownership of property and businesses with voluntary exchange in a competitive environment; or someone who is wealthy and benefits from such an economy
- But if all capitalists were as smart as you—and they are—the workers would be so poor that they couldn't afford to buy goods any more.
Chpt 28capitalists = people who believe in an economic system based on private ownership of property and businesses with voluntary exchange in a competitive environment; or wealthy people who benefit from such an economy
- The knell has sounded for capitalist private property, Marx would say.
Chpt 28capitalist = one who believes in an economic system based on private ownership of property and businesses with voluntary exchange in a competitive environment; or someone who is wealthy and benefits from such an economy
- Moreover, labor now belongs to the workers themselves and capitalism's alienation ceases.
Chpt 28capitalism = an economic system based on private ownership of property and businesses, and on voluntary exchange in a competitive environment
- Today, economists can establish that Marx was mistaken on a number of vital issues, not least his analysis of the crises of capitalism.
Chpt 28
- You said that Marx thought capitalism was an unjust form of society.
Chpt 28
Definition:
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(capitalism) an economic system based on voluntary exchange in a competitive environment with private ownership of property and businesses
(with the belief that voluntary exchanges harness inborn self-interest in millions of decisions that benefit society)editor's notes: Most proponents of capitalism advocate that government intervene to handle problems "pure" capitalism does not handle well such as monopoly, shared costs and benefits (such as pollution or national defense), provision of a safety-net for those who are unlucky, ...