Friday, September 9, 2011

advantages and disadvantages in a capitalist society





In chapter two capitalist is mentioned. Capitalism is an economic system in which all or most of the factors of production and distribution are privately owned and operated for profit. They are operated for profit, and businesspeople, not government officials, decide what to produce and how much, what to charge, and how much to pay workers. They are also able to decide whether or not to produce goods in their own countries or have them made in other countries. Capitalism is the foundation of the U.S. economic system. Roosevelt’s four additional rights are freedom of speech and expression, freedom to worship in your own way, freedom of want, freedom of fear. Capitalism people have four basic rights, which are the right to own private property, the right to own a business and keep all that business’ profits, the right to freedom of competition, and the right to freedom of choice. The advantages of living in a capitalist society are that individuals can buy, sell, and use land, buildings, machinery, invention, and other forms of property. Individuals living in a capitalist society can also pass property on to their children. Another advantage while living in a capitalist society is that people have the right to own a business and keep all that business’s profit. Profits act as important incentives for business owners. Individuals also have the right to compete with other individuals or businesses in selling and promoting goods and services. With advantages come disadvantages. Disadvantages while living in a capitalist society is that people may start to let greed drive them. Another disadvantage while living in a capitalist society is that there’s rarely a long-term shortage of goods. In a socialist society free education and free healthcare is given to their citizens, not so much in a capitalist society, this is another disadvantage of living in a capitalist society. Producing more goods for this society can minimize these disadvantages. If more goods are produced, a bigger profit will come in. In a capitalist society there are both advantages and disadvantages, but in a capitalist society we are able to be the best we can be, and get a successful job to support our families.




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