Business Ethics: Capitalism

Part I: Capitalism 1.1 Introduction According to an online article entitled Reflections on capitalism : The word capitalism was popula musterd by Karl Marx in the midpoint of the 19th century .It is a social , political as well as an economic system that countries use to ingest their development programs and economic policies. Almost all the worlds countries are currently running their economies on capitalist inspired doctrines ,this fact testifies to a great extent of the many advantages and viability of the system of capitalism . 1.2 Advantages of Capitalism 1.2.1 Cheaper and smash products A capitalist economy operates in a allow market, this is a requirement vital if capitalism is to thrive. A detached market is characterized by Businesses which are governed by the laws of come forth and demand, not restrained by government interference. As such(prenominal) in a truly free market, naturally Darwins theory of survival of the fittest comes into being, that is to say since consumers have access to cheaper and bust goods. The wide variety of goods being offered will create a healthy completion among companies which will not only stick to offer quality goods but competitive prices as well. because a capitalist economy through competition creates availableness of cheaper and better goods. 1.2.

2 Economic Growth Due to the fact that capitalism and the free market promote imports and exports between countries, they create an opportunity for internationally competitive countries to increase their exports relative to their imports thus increasing gross domestic product due to win exports . An example of such a farming is CHINA , its economic growth is mainly due to its net exports which are a result of its competitive prices relative to former(a) countries, without a free market system it is not cum laude to say that CHINA would not be where it is today. 1.2.3 It promotes Consumer Activism Capitalism gives rise to an economy where the consumers can have a say in issues and problems through the... If you want to get a full essay, position it on our website: Ordercustompaper.com

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