Is Capitalism Good For the Poor?
Capitalism is an institutional economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision and by prices, production, and the distribution of goods that are determined mainly by competition in a free market. In theory, this sounds like a good idea. Everyone has their own place to be. But when it comes down to the nitty-gritty of capitalism, it doesn’t seem to be so great; it keeps the poor, poor, there is no such thing as “equal opportunity,” and small businesses are being shut down due to large corporations. Some might argue that capitalism can have some positive effects like increasing life expectancy. Capitalism can have positive effects, but that is not one of them. Life expectancy can increase for those who are wealthy, but not necessarily for those who are not.
Capitalism keeps the poor, poor. According to “Wealth Inequality” from inequality.org, the …show more content…
According to “The Pros and Cons of Capitalism” by Mike Collins, “Multinational corporations which were previously restricted to commercial activities are increasingly influencing political decisions. Many think there is a threat of corporations ruling the world because they are gaining power due to globalization.” Globalization is the exchange of information, money, goods, services, etc. by extending to all parts of the world. Because large corporations are using globalization to spread their companies out, they are making more money than smaller companies. Also, it is well known that if someone were to buy something that is of a brand that is well known versus buying the same thing from a brand that no one has heard about, they are more likely to buy the thing from the brand that is well known. Small businesses are being shut down because they are making less money than those businesses who are taking over
Capitalism is an institutional economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision and by prices, production, and the distribution of goods that are determined mainly by competition in a free market. In theory, this sounds like a good idea. Everyone has their own place to be. But when it comes down to the nitty-gritty of capitalism, it doesn’t seem to be so great; it keeps the poor, poor, there is no such thing as “equal opportunity,” and small businesses are being shut down due to large corporations. Some might argue that capitalism can have some positive effects like increasing life expectancy. Capitalism can have positive effects, but that is not one of them. Life expectancy can increase for those who are wealthy, but not necessarily for those who are not.
Capitalism keeps the poor, poor. According to “Wealth Inequality” from inequality.org, the …show more content…
According to “The Pros and Cons of Capitalism” by Mike Collins, “Multinational corporations which were previously restricted to commercial activities are increasingly influencing political decisions. Many think there is a threat of corporations ruling the world because they are gaining power due to globalization.” Globalization is the exchange of information, money, goods, services, etc. by extending to all parts of the world. Because large corporations are using globalization to spread their companies out, they are making more money than smaller companies. Also, it is well known that if someone were to buy something that is of a brand that is well known versus buying the same thing from a brand that no one has heard about, they are more likely to buy the thing from the brand that is well known. Small businesses are being shut down because they are making less money than those businesses who are taking over