The Essential Nature of Capitalism Essay - 552 Words

The Essential Nature of Capitalism The essential nature of capitalism is social harmony through the pursuit of self-interest. Under capitalism, the individuals pursuit of his own economic self-interest simultaneously benefits the economic self-interests of all others. In allowing each individual to act unhampered by government regulations, capitalism causes wealth to be created in the most efficient manner possible which ultimately raises the standard of living, increases the economic opportunities, and makes available an ever growing supply of products for everyone. The free-market operates in such a way so that as one man creates more wealth for himself, he simultaneously creates more wealth and opportunities for everyone else,†¦show more content†¦Exploitation is inherent to the nature of socialism because individuals cannot live for their own sake, rather, they exist merely as means to whatever ends the socialist rulers -- the self-proclaimed spokesman of society, may have in mind.1 What is capitalism? Laissez faire capitalism means the complete separation of economy and state, just like the separation of church and state. Capitalism is the social system based upon private ownership of the means of production which entails a completely uncontrolled and unregulated economy where all land is privately owned. But the separation of the state and the economy is not a primary, it is only an aspect of the premise that capitalism is based upon: individual rights. Capitalism is the only politico-economic system based on the doctrine of individual rights. This means that capitalism recognizes that each and every person is the owner of his own life, and has the right to live his life in any manner he chooses as long as he does not violate the rights of others. Capitalism, economic system in which private individuals and business firms carry on the production and exchange of goods and services through a complex network of prices and markets. Although rooted in antiquity, capitalism is primarilyShow MoreRelatedEssay about Marxs Manifesto1305 Words   |  6 Pagesunderstanding of the nature of human beings and how they have constructed their historical world. Marx is considered a modernist because his views and theories fit the meaning of Modernity, which are human freedom and the right to free choice. To Marx, Capitalism is a barrier to the notion of human freedom and choice. 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Although , Capitalism is essential for us to continue progressing into a modern future; at some point in time, Capitalism lost its artlessness