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Essay / Research Paper Abstract
This 4 page paper considers whether or not capitalism is the best economic model. The concept and application of capitalism are considers, with a focus ion the problem associated with capitalism, alternative models are considered, including capitalism, market socialism and sarvodaya. The bibliography cites 8 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEcapagainst.rtf
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Unformatted sample text from the term paper:
seen in developed capitalist economies and the problems such as the credit crunch this impression of capitalism being superior needs to be re-evaluated. Capitalism may be defined as "social
system based on the principle of individual rights" it may be interpreted in an economic sense or in a broader philosophical sense (Capitalism org, 2008). In the economic sense it
may be defined as "An economic system in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and reinvestment of
profits gained in a free market" (Dictionary.com, 2008). The concept may be seen as a natural evolution from mercantilism, and is based on the concept of individual rights and
property rights, and reflects the arguments of Locke that there is a higher level of productivity when land and resources are in private ownership (Locke, 1993). Furthermore, it was argued
that the basis of a system that protected individual right and property rights was a system that has the basic foundation needed for the protection of liberty and freedom. There
are many that argue that the only political/economic model that supports the rights of the individual is that of the capitalist model. However, when looking at the way that the
model manifests, while having benefits many it may also be argued as causing harm and difficulties for others. There are many in the developed capitalist societies that are living in
poverty, reliant on welfare state hand outs and in poverty traps. The problem with capitalism is that market forces cannot provide for all societies needs, there are market failures, which
government may or may not seek to rectify, the use of the welfare state and regulation has had some success, but when looking at the evidence in a society were
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