Capitalism and its key features

DISCUSSION POST MUST BE 7+ SENTENCES AND THE PEER REVIEW MUST BE 5+ SENTENCES PLEASE USE YOUR OWN WORDS AND DO NOT COPY FROM OTHER SITES STAY ON TOPIC ,BE POSITIVE , AND DO NOT COMMENT ON GRAMMAR ERRORS. TALK DIRECTLY TO CLASSMATES IN PEER REVIEWS!!!


1) DISCUSSION QUESTION

This week we are discussing capitalism and its key features. Take a moment to reflect on the following questions.

  • Do you believe that people take for granted the economic system they live in, specifically in the United States? Why or why not?
  • Discuss why some people might believe a capitalistic society is unequal. Do you agree? Why or why not?

 

https://blackboard.strayer.edu/webapps/osv-kaltura…

 

2) PEER REVIEW (NIKKI)

Do you believe that people take for granted the economic system they live in, specifically in the United States? Why or why not?

To be honest, we take so much for granted in this country. In the past couple of years, I have seen some things done in this country that makes me think. We take our freedoms for granted. I can’t stand when I see service men and women get disrespected in public. When they come home from serving most are left without the proper medical care, counseling for mental health issues, and homeless in the process but we want them to defend us behind the curtains of war. The elections that are coming up and the issues at the White House have been downright ugly.

The US is a mixed economy.

Being that we are a mixed economy, the system plays a part to protect private property as well as allow a certain level of economic freedom in the marketplace. The government does intervene in order the protect the economic freedoms of the public. Some policies are put in place to steer away from falling under the umbrella of capitalism or communism. Our prices can fluctuate that way they stay fair and accurate to the market. It also gives the consumer flexibility to shop around for the same item at other markets according to supply and demand.

Discuss why some people might believe a capitalistic society is unequal. Do you agree? Why or why not?

To understand why there is so much inequality concerning capitalism, we must understand its definition. According to dictionary.com, it explains to us that capitalism is defined as an economic and political system in a country’s trade and industry are controlled by private owners seeking a profit, rather than by the government. Capitalism focus on four factors which include capitalizing on goods, natural resources, labor, and entrepreneurship.

There are a few factors when it comes down to the labor force of a company because it is owned by the company or individual itself. Slavery’s been eradicated in the United States and other parts of the world, but it still practiced in other countries who do not view it as slavery. Most people do not agree with capitalism because the incentive behind it is sheer greed. It operates on a free market. Wealth is generated by goods and services distributed according to the laws of supply and demand. The higher the demand for supply the best competitors comes out on top.

The disadvantages of capitalism are that those who aren’t at an advantage to using their skills for the competitive market force. It doesn’t cater to those with disabilities, the elderly, the poor, children and neither caretakers. Capitalism overall doesn’t promote equality. The playing field will never be leveled for those without the proper means such as wealth. They do not care of about the long-term effects on the environment because their factories cause the problem such as pollutions, contaminants in the water supply from runoff.

 

 

3) PEER REVIEW (DAVID)

  • Do you believe that people take for granted the economic system they live in, specifically in the United States? Why or why not?

I totally agree that some cooperation’s have taken advantage of our economic system. For example in the automotive industry and other companies, there are a lot of companies that will take short cuts to cheat and not to follow rules and regulations and they will do unethical practices, they will lie cheat and steal to make a profit. There are also some programs that our government on the state and federal level had to take over just to save companies for going bankrupt, foreclosure or closing.

There are companies that take advantage of the system and in fact they are doing more harm than good. (Golston, 2009). Another example is how our system has affected out veterans in the military. I feel that our economic system has forgotten our veterans to be taken care of as well. Our government has shift funds to fund other activities and not to provide for medical assistance. I think that our system is not broken it just need to be a lot better. Discuss why some people might believe a capitalistic society is unequal. Do you agree? Why or why not?

Capitalism by Webster’s dictionary define capitalism as is a system driven by private ownership of means of production. This leads to a system in which an entire nation’s populace is driven by the desire to make profits and accumulate wealth. A true capitalist system is a free market economy with NO interference from any governing body Capitalism is an unfair system that steals the planet’s resources and pays you based on how lucky or scarce you are.

The only fair economic system is socialism, as explained here , which makes everyone an equal owner of the planet’s resources and pays you based on how hard you work in converting those resources into useful goods and services. I agree of the meaning how capitalism works; however I don’t think that this systems works for everybody.

 

Last Updated on February 11, 2019 by Essay Pro