Capitalism is an economical and political system that among others, has been used around the world in order to order to dictate and govern the actions of others. In a nutshell, capitalism is a system in which a country's trade and economy is dictated by various corporations and organizations for profit, rather than by the country’s government; the rest of the population, known as the working class, trades their ability to work for those corporations, in return for a salary. With many other systems or ideologies in place, and many opinions on all these systems, especially because people come from different social and economical backgrounds, it may seem that it would be hard to determine whether one system is “superior” to another. However, in
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This in turn motivates people to maintain a high work ethic, as capitalism allows them to reap the rewards. With so many hard working people that work for companies under the promise of wages and money, those companies are allowed to thrive, leading to economic growth. This is good because economic growth benefits the entire country and all the people living in it. Capitalism is also an ideology modelled closely to our own human nature, which is simply self preservation. Self preservation goes well with capitalism because it encourages greed, which further encourages people to work hard to earn more money, but also encourages competition between people, to try and be the best in their profession or field. In fact Adam Smith, one of the first economists that strongly encouraged capitalism, said that “that it is human nature to place self-interest above all other concerns”, and that human nature and capitalism results in “... the betterment of society”. Overall, capitalism can act as a form of motivation that results in economic growth; this leads to a more prosperous country with a higher standard of living, and a better …show more content…
Unlike other political and economical systems in which people have their future set out for them essentially the moment they are born, capitalism gives everyone a realistic chance to be successful. The greatest example of this comes from a man by the name of Li Ka-Shing, who was able to build a 35 billion net worth, from a humble beginning as a 14 year old school drop out in Hong Kong. Shing’s drive, hard work and attention to detail greatly helped him become one of the richest men on earth having started from essentially nothing, but none of this would have been originally possible without Hong Kong’s utilisation of capitalism. Also, capitalism lets a person choose their own career path; it is a system in which there is a lot of freedom and personal choice involved. A person can choose whatever career they want whether that be a career in sports, finance, education, etc. Throughout their life, starting as soon as high school, people can dictate their own future based on the courses they take, the jobs they apply for, etc. Overall, one could say that capitalism gives a person the freedom to live their life the way they want
This in turn motivates people to maintain a high work ethic, as capitalism allows them to reap the rewards. With so many hard working people that work for companies under the promise of wages and money, those companies are allowed to thrive, leading to economic growth. This is good because economic growth benefits the entire country and all the people living in it. Capitalism is also an ideology modelled closely to our own human nature, which is simply self preservation. Self preservation goes well with capitalism because it encourages greed, which further encourages people to work hard to earn more money, but also encourages competition between people, to try and be the best in their profession or field. In fact Adam Smith, one of the first economists that strongly encouraged capitalism, said that “that it is human nature to place self-interest above all other concerns”, and that human nature and capitalism results in “... the betterment of society”. Overall, capitalism can act as a form of motivation that results in economic growth; this leads to a more prosperous country with a higher standard of living, and a better …show more content…
Unlike other political and economical systems in which people have their future set out for them essentially the moment they are born, capitalism gives everyone a realistic chance to be successful. The greatest example of this comes from a man by the name of Li Ka-Shing, who was able to build a 35 billion net worth, from a humble beginning as a 14 year old school drop out in Hong Kong. Shing’s drive, hard work and attention to detail greatly helped him become one of the richest men on earth having started from essentially nothing, but none of this would have been originally possible without Hong Kong’s utilisation of capitalism. Also, capitalism lets a person choose their own career path; it is a system in which there is a lot of freedom and personal choice involved. A person can choose whatever career they want whether that be a career in sports, finance, education, etc. Throughout their life, starting as soon as high school, people can dictate their own future based on the courses they take, the jobs they apply for, etc. Overall, one could say that capitalism gives a person the freedom to live their life the way they want