All 4 Uses of
capitalism
in
Fast Food Nation
- In many respects, the fast food industry embodies the best and the worst of American capitalism at the start of the twenty-first century — its constant stream of new products and innovations, its widening gulf between rich and poor.†
p. 6.1 *capitalism = an economic system based on voluntary exchange in a competitive environment with private ownership of property and businesses
- It was in his view the supreme achievement of American capitalism, as well as its greatest disgrace.†
p. 152.5
- In 1986 the group decided to target Mc-Donald's, later explaining that the company "epitomises everything we despise: a junk culture, the deadly banality of capitalism."†
p. 245.4
- Throughout the Cold War, America's decentralized system of agriculture, relying upon millions of independent producers, was depicted as the most productive system in the world, as proof of capitalism's inherent superiority.†
p. 266.4
Definition:
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)
(with the belief that voluntary exchanges harness inborn self-interest in millions of decisions that benefit society)
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, ...