Tricks For Academic Writing

American Capitalism

The American economy has been less than perfect for a long time. There were many protests across the nation. Some protesters did not agree with the government spending consistent sums and tried hard to stop it. Others blamed the American capitalist system and supported a new economic framework which would help America as a superpower it once was. The question to be raised is the following: Is the American capitalism preferable to any other economic model?

The Best Option

According to the general opinion, the alternatives to capitalism are the following: communism, fascism or welfare statism. However, the American capitalism is the best option as compared to the other models. In order to define capitalism, we can refer to some basic characteristics such as:

  1. Privately own the means of production;
  2. A social structure of private owners as well as of free wage-earners;
  3. Produce commodities for sale.

Conditioning elements are the following:

  • A certain labor division;
  • A dependable supply of wage labor;
  • Sustained investment;
  • Banks – commercial market organization;
  • Governmental policies to apply;
  • Protection of private property;
  • New way of making a living.

The Capitalist System

The capitalism might be characterized as the system of freedom. Each individual has the right to succeed as well as the chance to fail. People are, therefore, endowed with free will. Moreover, an alternative to capitalism is communism. In the past, communism was feared by the citizens of America who wanted to protect America from The Domino Effect. The communist system was introduced by Karl Max in the 19th century. Communism was also popular in Eastern Europe in the 20th century. If compared to capitalism, there are major differences. People under a communist economy have no opportunity to prosper or succeed in their endeavors. The promise of equality is also illusory. Thus, the capitalist economy is preferable over communism.

Capitalism in America could be seen as an economic system where people defined as private individuals or business firms deploy their activity within a complex network of both prices and markets. With a capitalist system, America has become the land of freedom and prosperity. American people are free to spend their income in ways that bring great satisfaction. All in all, capitalism is the economic system centered on three aspects: wage labor, private ownership controlling the means of production such as farms, factories and other machinery, in addition to production for both exchange and profit.

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