Perhaps that greatest strength of capitalism is that collective individuals within the capitalist economy, the consumers, drive the marketplace; which in turn leads to a consumer oriented marketplace. In order for a business to be profitable in a consumer oriented marketplace, the business must provide the consumers with a quality service or product at a competitive rate. Businesses must also find innovative ways at improving and/or creating products and services, thus enhancing technology and the need for capital and labor. All of this promotes economic growth.
Another great strength of capitalism is that it promotes personal drive within individuals. In order for a person to reap the benefits of a consumer oriented marketplace he/she must have purchasing leverage. To gain purchasing leverage a person must acquire his/her own capital/money through entrepreneurial ability (creating the need for labor) or via wages obtained through labor (a required resource for businesses).
When you take into account that capitalism has a society that dictates what and how much the marketplace will produce and a marketplace that caters to society, coupled with individual personal drive to gain purchasing leverage, you have essentially created a self-perpetuating economy. Collective individuals steer the direction of services and products available. Businesses drive the need for labor. Labor provides wages to individuals, which provides them with leverage to dictate the marketplace.
One weakness of capitalism is that if you don’t have the means you won’t be able to reap the benefits of the economy. The more means you have the more means you can gain. The less means you have the less means you can gain, or quite possibly a loss of means. In other words, the rich keep getting richer and poor keep getting poorer.
Another weakness of capitalism is that is makes a society that is geared toward money. Making profits is the main goal of businesses. This...
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