Our blog topic for this week is to discuss Capitalism. The good and the bad! Capitalism is defined by Wikipedia as "considered by scholars to be an economic system that includes private ownership of the means of production, creation of goods or services for profit or income, the accumulation of capital, competitive markets, voluntary exchange, and wage labor."
Some Pros of Capitalism
You are free to make your own choices (right or wrong) in the market place.
You own your life and the means to produce for your life.
You can choose to run your own business or get a job with ease of government regulation.
You get the highest quality of products for the cheapest prices.
You get the highest variety of the types of goods and services you can purchase.
You are free to innovate and invent without the government getting in your way.
You don't have to pay taxes beyond that of the basics to protect your rights
You have the right to own property and develop it as you choose
You have the right to earn as much money as you want
Capitalism has given the highest standards of living
The Cons of Capitalism
There are no cons. Stop being a communist.
Monday, April 16, 2012
Sunday, April 8, 2012
Globalization
Happy Easter everyone. I don't have eggs, unfortunately. Anyways, the blog topic this week is: the pros and cons of Globalization. Globalization is defined as: the increasingly global relationships of culture, people, and economic activity. Basically, it brings the world together and what not, typically through technological means.
I think globalization is good, but of course there are bad things about it too. We learned in sociology class that it is a means of the "satanic capitalists" to exploit the weaker, poorer, foreigners to do a lot of work for little pay. Still, that's typically better than what they get. The little pay they receive is enough for them to live, and they accept those conditions for a reason. Their economy gets better because more jobs are available for them. So even though they are taken advantage of, they benefit in the end.
Also, the world integrates together and becomes closer. Trade is built up. Anyone can communicate with anyone no matter how far a person is. When added all together, the pros of globalization is just better than the cons. It just is.
I think globalization is good, but of course there are bad things about it too. We learned in sociology class that it is a means of the "satanic capitalists" to exploit the weaker, poorer, foreigners to do a lot of work for little pay. Still, that's typically better than what they get. The little pay they receive is enough for them to live, and they accept those conditions for a reason. Their economy gets better because more jobs are available for them. So even though they are taken advantage of, they benefit in the end.
Also, the world integrates together and becomes closer. Trade is built up. Anyone can communicate with anyone no matter how far a person is. When added all together, the pros of globalization is just better than the cons. It just is.
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