What are some GOOD and BAD things about Capitalism?
Answer:
Some good things:
- freedom of choice across a broad range of goods and services
- resources often end up put to efficient uses
Some bad things:
- markets can sometimes fail dramatically
- undeserved inequalities in life chances
Free market economy really works well. Every country is starting to copy us.
Bill Gates, based on an idea and business talent, managed to accumulate a fortune. Opportunity is always there in a capital society.
Based on the history of the 'Robber Barons', un-regulated industries may not respect people rights or do what is best for society.
For the most part it is good because it promotes development and drives prices down due to competition but if it is completely unregulated you run into issues with monopolys over products (Microsoft) which is why we have anti monopoly and antitrust laws.
The good things about capitolism are the ability to start out poor and be one of, if not the richest man in the world (Bill Gates). The bad thing is the have nots feel they are entitled to the haves hard work (welfare). Libs want to always try and equal the playing field which ultimately hurts all of us. It hurts the haves, the inbetweens and the have nots.
Good= low prices, efficiency
Bad= can cause a "race to the bottom" scheme where working conditions, pay etc. get lower and lower as companies compete with each other.
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