Capitalism

Philosophy paper:

Please write 3 pages, single-spaced (1,650 words)

My paper will be focusing on capitalism and its discontent, specifically in the U.S. I plan on covering arguments in favor of capitalism and arguments against capitalism. 

Thesis – How can capitalism be improved to better serve everyone?

Please incorporate most of these topics in the paper and provide critical thinking:

• Moral values – Why should we care about efficient production or financial incentives?

• Talk about your objections or agreements on the topics below

• Talk about Karl Marxs driving concerns against capitalism 

• With your competition topic, what are you comparing the model to? Source of motivation

• Talk about the underlying moral principle of monopolies within industries for argument against capitalism

*For the conclusion, please write about what version of capitalism would work best for the U.S.

Argument in favor of capitalism –

  Competition

  When companies compete with each other to sell their products, consumers benefit as companies may choose to provide more affordable prices, better quality products, etc.

  Push towards innovations, advancements, industrialization 

  Private owners or companies become motivated or inspired to produce new technology or systems that help further advance the future of health, agriculture, etc.

  Dynamic efficiency is increased when companies and firms are constantly working towards meeting consumers needs, preferences, and trends.

  Financial Incentives

  People tend to be more encouraged or motivated to take risks when there is a reward in the end. Entrepreneurs dedicate lots of time in planning, organizing, and take risks to achieve a large financial reward.

  Overcoming discrimination

  Capitalism pushes people to trade with other countries and different people. By forming alliances and working with others, racial and social barriers are broken down.

Argument against capitalism –

  Monopoly within industries

  Monopoly power encourages private firms to over charge their prices in products and resources. As a result, essentials become non accessible to those who cannot afford these services.

  The rich gets richer and the poor gets poorer

  Corporate greed leads to paying employees a lower wage, which feeds into valuing profit over people. By doing so, this causes bigger wage gaps. The wealthy CEOs stay rich while their employees stay within the low to middle income class.

  Private sectors causes the cost of health care to be more expensive and harder for people to have access to

  Looking specifically at the U.S. Healthcare system, the system is built to benefit corporations and not for the benefit of the people. Driven by the greed of corporations whose main goal is to seek profit.

  Killing the planet

  Environmental threats such as climate change, loss of biodiversity, and plastic pollution are a result of capitalism. Both capitalism and industrialization in the U.S has expedited the lifespan of the planet and its resources. 

What version of capitalism would work the best for the U.S. –

  Valuing employees: Paying employees a livable and decent wage, in addition to providing accessible healthcare

  Making new technology accessible to those who need it

  Environmental changes: Companies need to be more eco-friendly and more eco-conscious; we are living on a planet with finite sources, but corporations and people on this planet are using resources as if we have an infinite amount of resources.

  More investment in public education, job training, and healthcare. To provide everyone with an equal chance of opportunity.

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