Balanced Essay about :

Capitalism
Money makes the world go round, or so the saying goes. But
does capitalism, the economic system built on the pursuit of profit and
the accumulation of wealth, truly benefit society as a whole? So, what
is capitalism? Capitalism is an income driven economic system that
gives the consumers more control over the means of production for
creating goods and services. While capitalism has led to significant
economic growth and innovation, the system is not without its flaws,
and the fact that it prioritizes wealth and economy more than social
welfare can lead to inequality and poverty. So… Is capitalism broken?

One of capitalism's most significant benefits is its capacity to

stimulate innovation and expansion. The possibility of profit drives
people and businesses in a capitalist economy to take chances and
invest in novel concepts and technology. The global quality of living
has increased as a result of the tremendous breakthroughs made in
infrastructure, technology, and medicine as a result of this
innovation-driven culture.

Capitalism also allows individuals to pursue their own goals and

interests, rather than being dictated by the government or a
centralized authority, like Natsi Germany. This can lead to greater
personal fulfillment and autonomy. Basically, the government gives
more freedom to the consumers so that the consumers can start their
own businesses etc, talk trash about political parties etc.

Since people who own businesses and enterprises are capable

of accumulating money quicker than others who rely only on their
labor, capitalism can result in enormous income and wealth inequality.
This can lead to a concentration of wealth and power in the hands of a
small number of individuals or businesses.

Businesses may prioritize their own financial interests ahead of

those of their employees and the environment under a capitalist
economy. As a result, exploitative labor practices such as low
salaries, bad working conditions, and a lack of benefits, as well as
environmental degradation and pollution, might occur.

In conclusion, it is clear that capitalism has both positive and

negative aspects. The economic development, innovation, and
individual freedom, which has helped many individuals achieve
greater wealth and living standards, is encouraged by capitalism.. But,
capitalism has also come under fire for its role in environmental
deterioration, labor exploitation, and income and wealth inequality.
But it is crucial to recognize that not even a single country uses pure
free hand capitalism, and different countries use their own modified
version of capitalism, so we can’t say anything about capitalism as a
whole. I personally think that capitalism is broken because of income
inequality and the fact that it prioritizes income more than social
welfare. So while capitalism is the only type of economic system that
works for us, we need to find a better system than this income based
unequal one.