Socialist Criticisms Of Capitalism

Competition is a good thing. Competition brings about the best in us. So why not make an economic system that values competition. Sounds good, right? And thus, with this train of thoughts comes modern capitalism. Capitalism has been ingrained in human society for centuries. Merchants way back had been practicing a smaller, more localized form of capitalism before capitalism rose to industrial, and eventually to a global age. Capitalism can bring about a rapid growth and abundance in the economy and increase the collective wealth of a society. However, like all things, the concept, and practice, as well as capitalism itself is not perfect. In fact, according to socialist criticisms, capitalism might as well be a grotesque and horrifying thing wearing a beautiful, captivating mask. Socialist criticisms accurately and convincingly outline the faults, gashes, and fractures of the calamitous nature of capitalism. Capitalism was a revolutionary concept. It was extremely attractive. It allowed rapid growth to the economy, and provided abundant goods in exchange for capital, or money. However, as attractive as this …show more content…
Capitalists have to make money. Everything they make, sell, or invest in has to return a profit. One such thing is the worker. The workers or the working class produce goods and services for the capitalist using the means of production. The workers do not own the means of production, which are the resources needed for production of goods and services. Capitalists pay a worker in exchange for his services which the capitalists make money off of. On paper, this might seem like an equally valuable exchange for both the worker and the capitalist, but in practice, it is anything but equal. Socialist criticisms state an exploitation of workers take place instead of the expected equal trade. The value of the work and services provided by the workers is greater than the amount of compensation they receive from the