Capitalism is a socio-economic system that has developed since the Industrial Revolution . It replaced the feudal system and the system of craft skills in the seventeenth century . In the Capitalist system, the production and distribution of goods depends on invested private capital and profit making. The function of regulating the economy is achieved largely through the operation of market forces . Capitalism has had advantages and disadvantages, this essay will explain these, and also give my argument depicting that Capitalism's contribution to society has been more negative rather than positive.
The private ownership and free enterprise in Capitalism is supposed to lead to more efficiency, lower prices, and better products. In Marxist analysis, these profits are secured by exploiting workers who provide their labour. Starting from the earliest origins of capitalism, only societies with the capabilities and the appropriate mindset could flourish amidst this period of economic, social, and religious dispersion. It is my opinion that Capitalism has assimilated a certain "way of thinking", driven by greed, the search for ever-increasing profits, worldwide expansion, and internal development. The points presented in this essay will elaborate on this.
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