HW #2

There are many advantages and disadvantages when living in a capitalistic society. According to www.dictionary.com Capitalism is an economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state owned means of wealth. One advantage of Capitalism is that the government has very little control over businesses, this allows business to compete, which then allow the consumer to find the lowest price. Also, capitalism allows businesses to hire more employees. Capitalism allows the business to obtain profits, with this profit they able to do whatever they want with it. Although there are many advantages there are also disadvantages. Some experts believe that capitalism causes inequality due to the distribution of benefits. Bigger businesses receive more than smaller sized businesses. Also companies are not allowed to make their own prices due to capitalism. Also due to the lack of government, it allows some businesses to dominate their industry. Ways to rule out the disadvantages of capitalism is to let the government have more control over big businesses. The way the government would have involvement in these businneses they would prevent them from buying out other businnesses and having a say in how they set their prices.

Capitalism

In a capitalist country if I were a small business owner i would be able to flourish because of the freedom I have. A capitalist country is one where all or most of the factors of production and distribution and privately owend. So if I were a small business owner i would have the ability to control the production and distribution of our goods. Also, in a capitalist economy those same business owners control the market rather than the federal government. So those same business owners that control what to produce and how much to produce also control the price those goods are sold for. This can create a problem when a business is struggling but the good they produce is a necesity then they are forced to raise the price and that often causes people to be unable to purchase the good. An example of this is my father, because he is a small business owner. He owns a small construction business with only three employees. He keeps the business so small so that he can control the flow of income and keep track of his supplies. As a small business he prides himself on completeing the job to the best of his ability which gets him the reputation of reliable. Along with being reliable he also ensures the costumer that at no point in time will he create an inflation of prices that cause the customer to be out on a limb. If you are a small business owner and the tax is reduced the advantage is the amount of money you have to pay is reduced. On the opposite end if the taxes get lowered and the government is not in control then you are not recieving any money from the federal government.

Capitalist Lifestyle

The capitalist lifestyle has its advantages and it’s disadvantages. The advantages are that you are free from the government to do what you want. If you wanted to start your own business, your own destiny and no one it the world could stop you from doing it. You can work at one place as a career and one day decide that you wanted to be something totally different. That’s what so great about being in capitalist country, it’s your choice and no one else to tell you any different. You also have power of you own money. If you want put it in the stock market or in a retirement account. As another privileges we get to own property without someone just taking it away from you for no reason. Another thing with capitalism is that there is competition between businesses, which makes lower cost for people like me to buy items at stores. Everyone has the opportunity to better himself or herself and make something of themselves.

With all this great opportunities comes with a downfall. The disadvantages of being in a capitalist country is that we can have so much wealth and only make so much money we can make as human beings. Another is that the government control is limited which lets a few businesses dominate other small business. Which destroys small people like us that have a family business and have to close it up. It pretty much leads up to the rich get richer and the poor get poorer. If you don’t get a good start off the bat, it’s a long difficult way to the top and get rich. Also with health care is that here, it’s not free. If you don’t have health insurance, then you might as well dig your self a whole because you will be in so much debt and if you get hurt and can not work, then you will not get paid until you start working again and earn you pay check. Another is the one’s that are in power limit others who are not in power to give up all there time for work. Also not everyone gets the benefits of being in the capitalist system. So there are always two sides to every story, it’s just whether how you look at every situation.

Capitalist Society

The advantage of living in a capitalist society is that
there is no limit to what you can achieve. You have the best competition
because everyone starts out the same and it’s up to you how big your business
can be. As a capitalist you get the best prices on goods and you can work your
business however you want too. You can hire and fire people at your leisure so
many people bust their butt every day because you can get fired at any
minute. You also have more freedom
because you get a lot of choice and those who work hard, get rewarded in the
end. Food advantages is that you have more choice so you can eat however you
want like fat-free, organic, or whatever you want. Some workers may seem over
paid or underpaid, the actual advantage is this situation is that everyone is
doing a job for their society that no one else does and it all contributes to
make one community. The last advantage
is happiness. You will be happy in the long run being a capitalist because you
have to freedom to make it big, or sink, it’s all up to you.

The disadvantages are people get too wealthy because there
is no limit on how wealthy you can be. The society breaks up into two parts,
the really wealthy ones that money just comes to them really easily, and the
kind of wealthy ones that work hard for every cent. It’s hard when you’re on
the bottom of the poll because you get fewer advantages than to fortunate would
get. They would cater to their needs first and put you second on the list. While
more and more people get richer, for the less fortunate it gets harder and
harder to become top class because there money status.

You could change the disadvantages by having everyone equal
and have every ones social status better. It will improve people’s business
because since every ones equal, no one will have the better hand.

benefits of capitalistic societies- Carter Rouleau

In a capitalistic country people depend on themselves to make a sturdy living.  In socialist or communist countries the people do not have to work as hard if they do not want to and will still make the same income as the hard working people.  I like living in a capitalistic country because when I enter the job market I can make as much money as I want if I work hard in school and get a good job.  I think that another benefit of living in a capitalist country is everyone is working harder.  Everyone is working harder because you don't all make the same pay, the harder working usually make more than the people who don't work very hard.

Working in a capitalist society

John Cullen

Professor Fleury-Lawson

Business Society

September 8, 2011

Working in a Capitalist Society

Living in our society today can have its up’s and down’s. At this point in time, the economy is on a major struggle. The United States is currently in a recession in which we are trying to fix. A capitalist society is when the system in which all or most of the factors of production and distribution are privately owned and operated for profit. As a worker in this type of society would have its advantages and disadvantages.

One advantage to being a worker in a capitalist society is that you are under a private organization. When you are under a private organization, you get paid your own standard wage. Lowering the business tax as a worker is helpful. When the taxes get lowered for the business, it means the business is taking in more money. That means you are taking in more money as the boss doesn’t have to pay a larger tax. Another reason why having business tax’s lowered is to the advantage is because it gives consumers more money. When they have more money they will spend more money and that would help a business out a large amount. They also must keep the jobs for the people who don’t have one. Lowering the business tax gives them a better opportunity to hire.

One disadvantage to being a worker in a capitalist society is that you are going to get fewer benefits. When your boss is paying you more money, he expects you to be spending your mom on paying for your benefits. Another disadvantage to lowering business tax is that you are giving the government less money. Although that seems right; our tax money paying’s the war we are in and our defense military. The less the government gets, the less funding they can give. The more we give to the government the more protective they will be. In this economy today, we want that.

While looking at the advantages and disadvantages they seem to equal out. The advantages are to help you get wealthier and think for yourself. The disadvantages are for the people who do not think just about themselves. They think of who it affects and what is best for the people. In the long run, having to give more money to the government is the rightful think to do.

Sarah Whitestone- Advantages and Disadvantages

Living
in a capitalist society has its pros and cons. The advantage is that you are
capable of doing anything in this society. This means that the government has
little control over the businesses, therefore they can compete against each
other. This leads to people being able to choose what they would like to do for
a job. You also gain control over all of your money, they can choose to save
it, spend it, donate it, its all up to them. It gives people the right to own
their own property

The
disadvantages are that there is a large gap between the poor and the rich, “The
rich get richer and the poor get poorer.” So the wealthy, get their money
really easily, then the poorer ones work hard for the penny they get every day.
I feel as though everyone should get an equal chance in life. A capitalist
society is not fair to the people who can’t start on the top of the ladder,
once your at the top you have nowhere to go, the bottom all you can do is go up
but some of the rungs are missing so it makes it that much harder living in a
capitalist economy.

Advantages and Disadvantages of a Capitalist Society

Discuss both the advantages and disadvantages of living in a capitalist society.   Then describe how such disadvantages could be minimized.

            Living in a capitalist society provides many opportunities for entrepreneurs to become successful.  On the flip side of that thought, an entrepreneur could become completely broke and not have a penny to their name.  The four basic foundations of capitalism are huge advantages which provide everyone a great opportunity to become successful.

The right to own private property is probably the biggest advantage to capitalism.  This allows people to do whatever they wish with whatever they purchase.  They can use it to gain more profit or they can turn around and sell it again to try and turn a profit.

The right to own a business and keep all that business’ profits is the main reason people can become so successful.  The government may take out some money for taxes but whatever you have left is yours to keep.  You can do whatever you want with the money, you can reinvest it in your company, you can give it to charity, or you can keep it all for yourself.

The right to freedom of competition is good for the consumers in a capitalist society.  The competition forces the price of similar goods to go down.  Which enables people to buy more goods and put more money into the economy and when there is more money in the economy everything is just better for people.

The right to freedom of choice allows us to do anything we want to become successful.  We can pursue whatever career path we want to because of this right.  It allows us to take any idea that we might get and turn it into a successful prosperous business opportunity.

Some disadvantages of a capitalistic society are that not every idea can become successful.  Sometimes you may think you have a good idea but no one else likes it, so you can’t get any startup capital to pursue your dream in this idea.  Other times you may have a good idea and you may get the startup capital, but its just not the right time for the product or service.  Maybe someone else has a similar idea but is just a little bit better, or maybe your idea is just a little too much of a luxury for some people and they decide that they don’t need it.

Advantages and Disadvantages of Living in a Capitalist Society- Daniel Snyder

Discuss both the advantages and disadvantages of living in a capitalist society. Then describe how such disadvantages could be minimized.

-Capitalism is an economic system in which all or most of the factors of production and distribution are privately owned and operated for profit. In every type of economic system there are pros and cons. One advantage in a capitalist society is that businesspeople decide what they want to produce. Individuals that own businesses in capitalist societies all start out equal and depending on the success of their products can better their business. Based on the success of one’s business is what allows them to grow their business to make more money. Another advantage is that the economy is overall more productive because the countries government doesn’t have to decide what goods and products to produce. As for consumers looking to buy goods and products have many options, because of the competitive market that exist in capitalist societies, one can get the best products for cheap. This happens because business owners have to set the prices of their products cheap so that it attracts customers. Another advantage in capitalist societies is the freedom that the business owners have. They not only choose what to produce but also how much they produce along with how much they want to sell the product. Business owners also decide how much to pay their workers, although many governments set a minimum wage. Capitalist societies often reward individuals that have good ideas that work hard enough to find success in the business. Business owners in capitalist societies have the success of their business on their back, they hold the future of their business in their hands and have the ability to make or break the business. A disadvantage of capitalism societies is that it creates social inequality. Although the owners of the businesses prosper, many people become poor. In capitalist societies wealth is not equally distributed so often, the rich often get richer, and the poor get left behind. Another disadvantage to living in a capitalist society is that because money isn’t evenly distributed, there is a lack of government welfare. When there is a lack of government welfare, education systems, health care and other important services aren’t properly funded, which could lead to political instability and possible conflict.

advantages and disadvantages of living in a capitalist society

The advantages to free-market capitalism is there are four main rights, those being, The right to own private property, The right to own a business and keep all that profits, The right to freedom of competition, The right to freedom of choice. With that being said i feel its fair to say that if you create your own business it can prosper into anything it wants with right foundations and business plan. Also with the four rights President Roosevelt believed there should also be four freedoms which everyone should know. As a business owner in a free market you control the prices by using supply and demand rules to determine equilibrum. Therefore companies are always running at
there peak growing with the economy.
With the positives there always come the negitives. When opening a new business there is a very high in sucess rate for upcoming business epecially the smaller company. Dont quote me on this but its somewhere around a 50/50 chance of failure or sucess. Having there be so many businesses opening all the time thats what makes up for the failure of businesses opening. As long as the people are still spending money and stimulating the economy aside from the recession we are currently in things will always be fluxuating.

Guy DePlacido

Guy DePlacido Sept 8, 2011
Imagine you are a worker in a capitalist society. Discuss the advantages and disadvantages to lowering business taxes
If you are a worker in a capitalist society, there are many incentives to working hard. Workers are rewarded for high productivity and this is always great for a business. If workers are working hard and production is up, then you can sell more product and make more money and this is exactly what keeps businesses running.
The advantages of lowering business taxes are that people think that more jobs would open. This is not always true depending on your boss. Some bosses will pay more to hire more workers so that they can make more products. Unless the demand is high for the product that their business actually produces, the chance of this is very low.
Lowering the business tax will lead to the owner having more money but not necessarily hiring more people. Business owners always want to make as much profit as possible. If they make a lot of money, they won’t just go and hire more workers because that is more money they have to dish out, which is less money in their pocket.
Another advantage of being a worker in a capitalist society is that there are many opportunities of moving up in a system and getting a pay raise. A major reason that workers like private businesses is that they can move up the ladder to higher positions. This is a major incentive to workers because it gives them an actual reason to work hard. When there is opportunity for bettering themselves, workers will jump at this opportunity and business thrives in companies like this.
There are many advantages and disadvantages to lowering the taxes. I think that most of the reasons above are the best examples of it but I also think that just by lowering the taxes isn’t going to help our economy whatsoever. Lowering taxes is a short term fix and that is it. Our economy will still suffer due to the lack of jobs that are out there today. So my final opinion on the topic of lowering taxes in a capitalistic business for workers that it is a bigger advantage than disadvantage. I believe this because its easier to make money as a worker because there are more benefits for hard work in a society like this and it also is a bad thing when it comes down to unemployment rates because it doesn’t open jobs. So for workers it is an advantage but for people that are unemployed, it is a disadvantage.

Capitalist Society

The advantage of living in a capitalist society is that

there is no limit to what you can achieve. You have the best competition
because everyone starts out the same and it’s up to you how big your business can
be. As a capitalist you get the best prices on goods and you can work your business
however you want too. You can hire and fire people at your leisure so many
people bust their butt every day because you can get fired at any minute. You also have more freedom because you get a lot of choice and those who work hard, get rewarded in the end. Food advantages is that you have more choice so you can eat however you want like fat-free,
organic, or whatever you want. Some workers may seem over paid or underpaid, the
actual advantage is this situation is that everyone is doing a job for their society
that no one else does and it all contributes to make one community. The last advantage is happiness. You will be happy in the long run being a capitalist because you have to freedom to make it
big, or sink, it’s all up to you.

The disadvantages are people get too wealthy because there

is no limit on how wealthy you can be. The society breaks up into two parts,
the really wealthy ones that money just comes to them really easily, and the
kind of wealthy ones that work hard for every cent. It’s hard when you’re on
the bottom of the poll because you get fewer advantages than to fortunate would
get. They would cater to their needs first and put you second on the list. While
more and more people get richer, for the less fortunate it gets harder and
harder to become top class because there money status.

You could change the disadvantages by having everyone equal

and have every ones social status better. It will improve people’s business because
since every ones equal, no one will have the better hand.

Alexandra Euglow - Capitalism

Alexandra Euglow
1. Discuss both the advantages and disadvantages of living in a capitalist society. Then describe how such disadvantages could be minimized.

There are three main economic systems that a country could choose to follow. The first economic system would be Capitalism. Capitalism is an economic system in which all or most of the factors of production and distribution are privately owned and operated for profit. Another economic system would be Socialism which is a system based on the premise that some, if not most, basic businesses should be owned by the government so that profits can be more evenly distributed among the people. The last system would be Communism which is an economic and political system in which the government makes almost all economic decisions and owns almost all the major factors of production. Within these three economic systems, I will focus in on Capitalism.

Capitalism is the economic system that has led to a lot of the wealth within this world. The advantages of Capitalism are the government has limited control over business, which allows businesses to compete against one another. People are also allowed to choose what kind of work they would like to go into. People also have control over their own money; they can chose to save it, to invest it, to spend it, to donate it or whatever they would like. It also allows for people to own their own property, opportunity and competitive markets. Some disadvantages to Capitalism are the barriers between people in terms of how much money or wealth they have or make. There is a quote that many say about Capitalism, “The rich get richer, while the poor get poorer.” Another disadvantage would be that government control is limited and a couple of businesses can dominate the industry and take control. All in all, it would seem the advantages overtake the disadvantages, but do they really?

The major disadvantage to Capitalism is the belief that “The rich get richer, while the poor get poorer.” Some do not believe this to be a disadvantage because they say that poor people are not trying to start businesses and provide others with jobs, so we need the rich to prosper. I believe everyone should have an equal chance. I think a solution would be that not only rich people get loans. I was really impressed with Muhammad Yunus and his bank, Grameen Bank. This bank allowed women, people without bank accounts and just disadvantaged individuals the opportunity to get a loan and start their own business. I believe if the United States had a bank like this then the above quote would no longer be true. All in all, Capitalism does separate the classes of people greatly and causes tension.

advantages and disadvantages of living in a capitalist society

                      

Living in a capitalist society there can be advantages as well as disadvantages. Most of the

land and businesses in a capitalist society are individually owned and not affiliated with the government and these businesses are operated for self-profit. I personally believe it is much more profitable to live in a capitalist society rather than a socialism society as an individual, but if you have a family to provide for it is not a wise choice to live in a capitalist society which bring me to my first negative. Unlike socialism, capitalism societies don’t provide as much money as they should into their school systems as well as healthcare having a large effect on your children making it a difficult community to bring your family up in. Another negative to this society is not enough money is put into infrastructure such as roads and water supply. Not taking care of the roads can also cause bigger issues. For instance, if the roads are not taken care of that could possibly enable transportation of materials to businesses in a community causing some larger problems. In my opinion, there are more positives living in a capitalist society than negatives. Some advantages are there is more choice in what you do with your life. You are not run by the government; therefor you are free to do whatever you please to some extent. That is a very big perk living in a capitalist society. Another positive in this capitalist society is that the economy is more efficient and productive because it is not funded by the government and they have no say on what to produce. To make a capitalist society the best it can be, you need to belittle these disadvantages. The main issue of the disadvantages is putting money towards infrastructure mainly focusing on the school

systems. Every community has young children who need to be educated at a high level.  If everyone

were to put some money aside or set up donations once a week that could go towards this problem, a community would eventually come up with a large sum of money minimizing this issue. Overall, a

capitalist society only has a few flaws that can be taken care of with a little time and dedication

overtime.

The Pros and Cons of a Capitalism Society

  A capitalist society holds the advantage in that it enables its citizens to own their own property, make their own living, and allows for a continuum of economic growth. Though all of these are highly beneficial to the individual, there are cons to the equation that void certain aspects of the country as a whole.

 

  For instance, because capitalism breeds an individualist society, we lose sight of benefits to the country, and sacrifice them for benefits to the individual. This means, in theory, more corruption, tax breaks, and stepping over the little man. The big profit makers of the society will use financial Darwinism as a means to justify their abrogation of the lower class. Although these are legitimate concerns, capitalist societies often have a system of checks and balances that in an ideal world, will prevent such things from happening.

 

  Adam Smith uses formulas that further help to even out the gap between individual and society. He makes it so that the better an individual does, so too does better the country.
Overall, capitalism allows for a free system of gain. It ensures that the government alone does not decide the worth of it's worker. Furthermore, entrepreneurial gains help to better the society. A person will better understand the needs of a country before the country itself does. Without capitalism there would be no BMW, XBOX, or Television.

 

  All of these items are the result of an individuals dream, that benefits himself at first, in a way that also helps the society.

Advantages and disadvantages of living in a capitalist society

Hillary White
1. Discuss both the advantages and disadvantages of living in a capitalist society. The, describe how such disadvantages could be minimized.
Capitalism is an economic system in which all or most of the factors of production and distribution are privately owned and operated for profit. To live in a capitalist society you have the right to own private property, including the means of production, and the right to own a business and keep profits are two of the fundamental rights that exist in the economic system called free market capitalism. I understand that some people get rich and some people get poor just as some people can be great and some will only be common.
The Advantages of living in a capitalist society are as a consumer, you can get the best quality goods and services at the best prices. The freedom and competition that exist in a capitalist economy forces producers to make their goods and services as good as possible and as cheap as possible so as to attract customers. As a consumer or a producer, you have the greatest possible freedom to do what you want. You have the right to buy what you want and to produce what you want.
The disadvantage of living in a capitalist society is it is very possible for some people to become poor in a capitalist society while others become very rich. While others are buying and selling businesses some people who can’t afford too. This can be very hard on the people who are left behind. It also makes for the possibility of political instability and conflict. Another disadvantage is having to work harder. Also it's unstable so you can end up unemployed. There are many more disadvantages of living in a capitalist society.

pros/cons of capitalism

1. Discuss both advantages and disadvantages of living in a capitalistic society. Then, describe such disadvantages could be minimized.

A capitalistic society is when the factors of production and distribution are driven by consumers and their wants and needs. This economic system is also called free-market capitalism which allows people to start businesses they want to. Just like other types of economic societies there are positive aspects and there are also some negative too.

One of the positive parts of capitalism is that everyone has the right to own private property. This allows people to buy, sell, or use land other resources like buildings, machinery, and other assets. Business owners that are successful have the right to the profits they have earned. This drives people to do better because then the reward will be greater. If people had to work as hard as they do and aren't able to keep what they've earned, they wouldn't work nearly as hard or care as much. The right to own a business and keep all the profits is what drives incentive.

In a capitalistic system, like here in the United States, we strive for perfect competition. Having companies compete for your business is what drives the prices down. This is another benefit of capitalism. When consumers are looking for products to buy naturally they want to pay as little as possible. Companies will sell more of their product if they have the lowest prices and in the long run will increase their revenue. In the end both sides are happy.

With so many business striving to be the best there are other benefits. Companies need workers to help run their business and jobs are created that way. People are free to choose where they live and what they do for a living. With the money they make from their jobs, people are also free to choose what they buy and sell. When people are making money they are more likely to be spending it, which drives the economy.

The downfall to capitalism is that business owners can get caught up in greed and try to cut corners in order to save money. False advertising is another disadvantage about capitalism. Businesses may not always be truthful about their products in order to increase sales. It is the customers who are negatively affected here. Overall capitalism is a really great kind of society to live in.

Sam's Post

1. Discuss both the advantages and disadvantages of living in a capitalist society. Then, describe how such disadvantages could be minimized.

The most important advantage of living in a capitalist society is freedom. There is freedom to succeed and freedom to fail. Someone can easily decide that they want to become a business owner and not much will stand in their way. There are hardly any government restrictions in this type of society. One can choose to open a business pretty much anywhere at any time and usually sell whatever they please, to whomever. In comparison, a communist society does not have these types of freedom. Usually, the government dictates who you will become, what your job will be, and what type of life style you will have to live. There is little to no room for freedom at all. Communist societies even dictate what type of religion you are allowed to practice, if you can move to a different town or not, and if or if not you can transfer into another career. Capitalist societies are wonderful because anyone can have the opportunity to chase their dreams and have hope of succeeding.

With this freedom comes another advantage of a capitalist society, incentives. Because everyone has an equal chance of becoming successful, this factor drives people to work harder and longer. Unlike a socialist society, individuals have the chance of excelling above their peers and climbing up or down the social ladder. This gives people the motivation to work hard and reap its benefits. A second advantage capitalist societies have over socialist is the personal value-added tax amount. From the Understanding Business book, by Nickels McHugh, it states that “U.S. shoppers pay sales taxes ranging from 10.25 percent in Chicago to zero in Delaware…” while “socialist countries charge a similar value-added tax of 15 to 20 percent or more”.

One disadvantage of a capitalist society is ending up on the other end of the stick. Although there might be a whole lot of money out there in the world for you to potentially get, there can be a mighty struggle to get any. Since everyone has the chance to become rich, capitalist societies have become a vicious cycle of business competition. The individual has to usually be inventive, smart and always be thinking to keep up their game. A second disadvantage is having to contribute taxes to government and state programs. Although this supports those in need, school programs, etc. the government is taking a huge chunk of money out of business profits through taxes. Finally, capitalist workers usually work more hours and have less vacation days than socialist workers.

To minimize these issues, the government needs to allow businesses to grow. When businesses grow, it allows more people to be hired which results in less money going to financial aid and to collecting unemployment. Also, if there were more competition in certain fields of business, prices would be lower for the buyers.

Capitalism's Advantages and Disadvantages

Today’s economic world consists of three different types of economies and they are communism, socialism, and communism. Each of the economies has their own advantages and disadvantages, but the United States follows a free-market capitalistic society. A capitalistic society allows individuals to have private ownership of their own factors of production and distribution. These privately owned businesses operate for an individual profit and decide what to produce and at what cost without help from the government unlike socialism and communism. However, capitalism does have specific advantages and disadvantages.

The advantages of capitalism and a free market are the right to own private property, the right to own a business and keep all that business’s profits, the right to freedom of competition, and the right to freedom of choice. These four rights lay down the foundation to a capitalistic based economy. The two most important rights are the right to own private property and the right to freedom of choice. The right to own private property gives an individual the ability to buy and sell land at their own free will; the ability to do so lets the owner become more invested in their success. If the government owned the land no one would be willing to work as hard to make the business successful. The right to freedom of choice gives the individual the ability to choose where they want to work and what type of business they would like to operate.

Even though capitalism lets companies of all sizes flourish, there are also a few disadvantages of this economic system. The main disadvantage for capitalism is that it does not create an equal playing field for every American citizen. Certain men and women do not have the ability to begin their own business due to educational level, social status, and economic status, while communism puts everyone on an equal playing field. Other disadvantages of capitalism are the increasing greed amongst people and how certain businesses deceive the public. Most companies manipulate their audience through commercials; the owner can advertise a product at a certain quality, while the product is truly a lesser quality. The businesses deceive their audience because of the competition level amongst competing companies. There are a few ways one can think of to minimize these disadvantages.

To minimize the inequality amongst the American people certain banks should help lesser fortunate people take out loans like Muhammad Yunus’s business, Grameen Bank. The company helps distribute small loans to the poor to begin their own business. Another way to decrease the disadvantage of a company’s deception is to increase the law involving false advertising. Companies should be held accountable for their false advertisement on the radio, television, and billboards. Capitalism can be seen as the best way to control an economy, but like everything else it has its downfalls.

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.