An economic system is currently the best solution in regards to the problem of scarcity. A system such as pure capitalism is in essence a monetary prioritized economic system run by private companies with little government intervention. Capitalism can be seen as an answer to society but that may not always be the view of everybody. Though there may be pros and cons in this economic system, would it be wrong to believe that pure capitalism is not the answer to our economic system even though there’s no alternative solutions? Pure capitalism can be seen as vile and cruel to many eyes around the world. The idea of greed, corruption and exploitation is a well-established ideology in the minds of people around the world (Jones, 2014). In the terms
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In the famous words of Gordan Gekko in the movie Wall Street, “…greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind” (Stone, 1987). In this quote, it emphasizes greed and breaks greed down to it simplest form, which is self-interest. It is trying to say that without greed, our economic system wouldn’t even be existent. The society and economy needs greed to function because of the fact that without money coming in, there will be no money moving out. The greedier the people, the more increase in buying and spending which will cause a positive effect on things such as the stock market and the economy; likewise, the incentive to work will be increased as the economy and standards of living improve in society (Amadeo, 2015). With this improved society, the incentive to work would be much higher due to the fact that it is efficient for companies to produce goods that are in demand; and be inefficient to fire workers which help build the product in which the companies profit from (Pettinger, 2013). This in itself is a perfect cycle that proves how pure capitalism can outdo the bad and generate the …show more content…
Capitalism recreates itself”. In this sense, capitalism is superior to the form of communism. Though pure capitalism may seem to portray a ruling upper class and an enslaved lower class; that is not the case. The more economic growth which occurs in society, the benefits reap from the highest of classes to the lowest of classes (NLCATP, 2014). Due to this economic benefit, prices will be lower while wages will be high and the competitive market which has a wide variety of goods and services for the customers will prove that the distribution of resources and wealth throughout the pure capitalist society would indefinitely demolish any doubt of failure (Oak,
In the famous words of Gordan Gekko in the movie Wall Street, “…greed, for lack of a better word, is good. Greed is right, greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms; greed for life, for money, for love, knowledge has marked the upward surge of mankind” (Stone, 1987). In this quote, it emphasizes greed and breaks greed down to it simplest form, which is self-interest. It is trying to say that without greed, our economic system wouldn’t even be existent. The society and economy needs greed to function because of the fact that without money coming in, there will be no money moving out. The greedier the people, the more increase in buying and spending which will cause a positive effect on things such as the stock market and the economy; likewise, the incentive to work will be increased as the economy and standards of living improve in society (Amadeo, 2015). With this improved society, the incentive to work would be much higher due to the fact that it is efficient for companies to produce goods that are in demand; and be inefficient to fire workers which help build the product in which the companies profit from (Pettinger, 2013). This in itself is a perfect cycle that proves how pure capitalism can outdo the bad and generate the …show more content…
Capitalism recreates itself”. In this sense, capitalism is superior to the form of communism. Though pure capitalism may seem to portray a ruling upper class and an enslaved lower class; that is not the case. The more economic growth which occurs in society, the benefits reap from the highest of classes to the lowest of classes (NLCATP, 2014). Due to this economic benefit, prices will be lower while wages will be high and the competitive market which has a wide variety of goods and services for the customers will prove that the distribution of resources and wealth throughout the pure capitalist society would indefinitely demolish any doubt of failure (Oak,