Critique Of American Capitalism And Capitalism - 2411 Words

Capitalism is not a rigid, inflexible economic and political system—there are many forms of capitalism around the world. It is illustrated as being different variations of capitalism outside the United States; there is the Dutch version, the French version, the British version, as well as the American version. American capitalism implements free-market ideology and that makes the U.S. stand out among other nations. Other nations do not dwell on privatization and deregulation nearly as much as the U.S., which is both a major strength and critique of American capitalism. One critique of American capitalism is the Five Internal Contradiction of Capitalism. These contradictions include inevitable growth of monopolies, demand labor saving technology and policies, issues of over and under production, increases in economic inequality, and convergence of economic and political power. This economic system creates detrimental social issues among the population. With economic policy bein g in the best interest of big corporations, the wealth accumulates and stays at the top. The bottom income group suffers the most as there is less wealth available for them and they are forced to endure strive and pain just to survive another day. In the example of The Myth of the Welfare Queen, two Philadelphia â€Å"welfare mothers† reveal to the world their personal hardships and the extent to which they will go to support their families. The increasing rate of class inequality created by AmericanShow MoreRelatedKarl Marx and Capitalism Essay880 Words   |  4 Pagesdeveloped his critique of capitalism by analyzing its characteristics and its development throughout history. The critique contains Marx’s most developed economic analysis and philosophical insight. Although it was written in 1850s, its values still serve an important purpose in the globalized world and maintains extremely relevant in the twenty-first century. 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