Capitalism Essay

During the many civil and economic disputes of the 20th century there has been an argument about whether the economic system of Capitalism Beneficial for the poor. Economists would say it depends, for there are many ways to enforce Capitalism. There is pure unhindered capitalism where everything, even information, has a cost. This would be beneficial for the rich because it allows them to have an advantage over the poor. One example of this was back in the 1500s when there were castles and kings; peasants couldnt do anything because they had no way to learn a nd so the kings had a monopoly on all information and research in Europe. In the modern age if only CEOs of corporations had access to information many of the things we have like IPhones would not exist today. Then there is capitalism in like the U.S. enforces where there are a variety of ways to get information, and grants that give money to profitable ideas and inventions. This allows even the poor to come up with ideas and get out of poverty. This helps not only the wealth of the poor but allows the flow of innovation creating things like cars and cell phones. Many of the wealthiest capitalist countries are democracies, but this is not always the case. China the worlds wealthiest and most populated country is actually communist. Instead of focusing on their social and political problems like the U.S. they focus entirely on their economy reducing the freedoms of their associates but increasing their economy and giving incentives to their people to increase innovation and productivity. Capitalism has been a part of the world since the creation of money, and there are many ways that it could be helpful to the poor and ways that it is harmful as well.