Essays on Capitalism

Capitalism is a system of the economy in which the entire trading and associated business activities of a particular country are majorly controlled by the private sector at the expense of the peoples’ time and labor that is of the essence towards industries. The system is different from other economic...

Karl Marx and Friedrich Engel are the founders of the socioeconomic theory that frames capitalism as a means of exploitation. The theory represents Marx’s initial efforts of trying to understand social inequality and changes in the capitalist community. Marx addressed the philosophical, social and economic aspects of materialism. In their...

The capitalism theory argues the existence of an economy marked by private property, markets, and firms (Barnes, 2018). Here, the establishment of a capitalistic system is founded on ownership rights of properties, the presence of defined markets where entities undertake the exchange of goods and services for mutual benefits and...

Economists in the 19th century had their different and straightforward opinion on the falling rate of profit of the industries. For instance, Ricardo argued that profits due to a natural tendency cost by high cost of hiring labor to produce foodstuffs which demanded wages resulting in too high prices. Ricardo’s...

Capitalism is the state of ownership in which the private sectors in a given country individual factors of production. The elements of production are four, namely; labor, natural resources, capital goods, and the entrepreneurship. The coefficients of production are the pillar of the economy and led to the emergence of...

Emile Durkheim and Max Weber are great sociologists who has made a significant contribution to sociology. Durkheim came up with concepts of solidarity referred to as organic and mechanical solidarity. He introduced the two terms deliberately as part of his theory regarding societal development. This revolved around the division of...

Compare and contrast Friedman and McNally on their respective conceptions of capitalism, individual freedom and the relation between. Use one of Thiong’o, Le Guin or Bellamy to illustrate your understanding of these opposing views. Milton Friedman and McNally are the greatest economists with great influence to the society. Both advocates for...

Weber and Karl provide different perspectives in examining both the economic and social environment. It is through Weber’s ideologies that an account on the commencement of capitalism and socialism entails an antithesis of Marx's theory. The opposing theories derive from the diversity in assumptions about the aspects of social development....

Capitalism is a system of the economy in which the entire trading and associated business activities of a particular country are majorly controlled by the private sector at the expense of the peoples’ time and labor that is of the essence towards industries. The system is different from other economic...

The United States of America's late 19th century was referred to as the "Guilded Age" by Mark Twain. This is parody because the situation in Maine at the time appeared to be glittering on the outside but was actually rotten on the inside. In reality, the era was marked by...

At the end of the 20th century, when liberal democracy and free market capitalism were expected to drive global prosperity, the triumph of western social order was generally predicted. The void left by the collapse of the Soviet Union and the ensuing clash of civilizations actually motivated proponents of Western...

The word "neoliberalism" was first coined by British economists, interwar continental thinkers, and philosophers to describe an economic theory that supported deregulation, privatization, and free markets while opposing the state and public institutions. In this situation, the government dismantles unions, liberalizes the economy, lowers taxes for businesses and the wealthy,...