Capitalism is the organization of society in such a way that the wealth and means of production are privately owned by capitalist. Like many other terms in society, there are pros and cons.
Pros:
- People are in control of their own destiny
- They have a lot of freedom in society
-There is a lot of competition
Cons:
- Inequality arises
- Increases competition
- Economy becomes more money-oriented
Karl Marx believes that capitalism is the means of production. He believes that capitalism creates two competing classes, the bourgeoisie who owned and controlled the means of production and the proletariat who were the common workers who owned nothing but their right to sell their labor. It is also believed that the proletariat is going to being large and overthrow the bourgeoisie and end capitalism. I have not decided if I am a big fan of capitalism but I like the idea of it.
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