Capitalism Is The Dominant Economic System Of The West Essay

3853 Words Dec 14th, 2014 16 Pages
Capitalism is the dominant economic system of the West by which production is privately owned and income is distributed through free markets. This exists in contrast to many Eastern countries that believe that production of good is best controlled by the state. The idea that the state and not the individual should be the one controlling production comes from the roots of the philosopher Karl Marx. Marx foresaw a world without the use of money, without a modern caste system with class divisions, and where every person gave according to their abilities but took only what they needed. He was a man that believed in a Communist utopia that predicated that communism was not one possibility, but that it was an inevitable end to a capitalistic means.
Marx believed the human relationship between material goods and their production is the framework in which history developed. Marx referred to this historical process “Dialectical Materialism.” At the dawn of humanity the species was only concerned only with production that ensured survival. As the population grew, economic systems such as money, government and religion were created to ensure all human needs could be met. As the economy and technology grew, each person’s relationship with the products they created changed so that they were not responsible solely for producing for self-sufficiency but for everyone’s survival.
During the industrial revolution humanity streamlined this production with great precision and created mechanisms…

Related Documents