Paper Topic:

capitalism cause good or bad? in terms of job creation and social stability or global integration

Running Head : Capitalism

Capitalism

[Name of Writer]

[Name of Institution]

Capitalism

Introduction

Capitalism has rapidly emerged as the leading economic system since the collapse of the Union of Soviet Socialist Republics and Eastern European Communist Bloc . This system is based on the premise that the manufacture , creation , and fabrication of goods and services are owned by private individuals or organizations . This is opposed to the state control of the economy which guides the industry , agriculture , trade and commerce . A capitalist system is based on the theory that

competition , privatization , and profit will bring prosperity and success to the entire society . There are different forms of capitalism which advocate minimum or reduced involvement of the state in the economy . The most popular form of capitalism that is being advocated is the neo liberal economic system which has been championed by the Western countries . The role of the state has been limited to the provision of certain services while it ensures that the market is regulated with rule of law . The record of capitalism has been mixed with supporters arguing that it has led to increased economic standards of living . China , India and East Asian countries are considered as having progressed because of their adaptation of capitalist economic practices . However critics argue that capitalism has increase income disparities , poverty , drugs , crimes and destabilized local economies . They point to the examples of Latin America and Africa where the adoption of neo liberal economic systems have spread havoc and chaos . This provides an...

11 pages

59.5 KB

Free sing-up