The Consequences Of Capitalism
Capitalism is described as an economic system depicted by private or corporate ownership of capital goods, by funds that are influenced by private decision; and by prices, manufacturing, and circulation of goods that are influenced by competition in a free market. In other words, it is a system in which we live where it is failing to meet the necessities of the majority of the world’s population. Under this system, only a small portion of citizens are in control of the planets capital and resources. As more wealth and power is gathered, money and factories are moved to accommodate to keeping profits high and wages low. Ultimately, the amount of profit acquired is more important than people and the environment. Adam Smith is often …show more content…
Marx argued that the source of capitalists’ wealth is from unpaid labor of workers, and to increase their share of wealth it is at the expense of the workers. Ultimately, workers will continuously be exploited under the capitalist system, and their unpaid labor is what will drive profits. Marx summarized that:
“One of the prerequisites of wage labour and one of the historic conditions for capital is free labour and the exchange of free labour against money, in order to reproduce money and to convert it into values, in order to be consumed by money, not as use value for enjoyment but as use value for money.”
In conclusion, it is evident that wage inequality is a form of labor exploitation. In a capitalist society, the leading class promotes their morals to be the standard accepted view, and these mindsets are accepted by the working class, as stated by Marx.
Citizen …show more content…
For instance, this ranges from energy resources, to technologies, and the employees who go to work every day. Capitalism is the root for planetary ecological collapse. This includes climate change, pollution, deforestation, overconsumption, and essentially destroying the earth’s resources for products. According to a Harvard biologist, “half the world’s great forests have already been leveled, and half the world’s plant and animal species may be gone by the end of this century.” However, the corporations aren’t diabolical on purpose, they are just providing for their shareholders. For instance, Shell Oil is bound to drill in the Arctic and have its adverse effects on the climate because that is what their shareholders want. Therefore, the bigger the corporations become, the bigger the ecological problems