Capitalism Essay -- essays research papers

CapitalismToday in the United States, a free foodstuff dust or capitalism is themain economic system. I am interested in this subject because I someday wish toown my own business. I believe that in the future this topic will be veryuseful to me. Among the topics that I will discuss are the greeks and romansearly practices of capitalism, the ideas of Joseph Schumpeter, Rush Limbaugh,and Karl Marx, corporations, regulation by the government, and Reaganomics. Iwill also discuss the relationship between inflation and unemployment. Inaddition, I will give my own perspective on the economic theories that Impresenting. These are just a few of the things that I will be discussing in thispaper.HISTORY OF CAPITALISMMany of the institutions of capitalism can be traced back to Greek andRoman times. Things such as trade, moneylending, and insurance were well knownpractices to them. Unfortunatly, growth of the Roman Empire prevented furtherdevelopment of a insular business class. As power ove r economic growth cameback to the people or lords during the Middle Ages, modern capitalism started toevolve. (The Software Toolworks Illistrated Encyclopedia)In the new Middle Ages, the medieval economy was based on MANORALISM.This system said that peasants worked on the land that the lords owned, buteverthing that was produced by them was kept in return they had to get alongservices or pay dues to there lord. During this time period, there was noincentive to produce large and productive resources. The end of the midievalManoralism was brought about by a larger demand for goods. Kings competedagainst lords, and lords competed with peasants for the rights to what wasproduced. As a result, there was an progeny of merchants and businessmen whoaccumulated large sums of capital. In addition, there was also a largeemergence of banks and the start of corporations. (Galbraith Pg. 58)The only other economic system that got much attention was a new ideacalled Communism. A person named Kar l Marx wrote a book called the communistManifesto which thought of the state as being the main controller of economicgrowth, unlike capitalism where the people in a free market are the maincontrollers of economic growth. In the 19th century when most of the world likeBritan, France, Germany, and the United States were in the age of ... ... get elected to bepresident is because he plays the game of class warfare. Clinton did a good jobof convincing the poor and the middle class that Reagan did them wrong. Clintonbelieves that the rich should be punished by higher taxes. I ask you, "whyshould you punish prosperity?" The main goal of the liberals and Bill Clintonis the reditribution of wealth. The key question to ponder is, " when doprofits break down unfair and excessive?" (Limbaugh Pg. 118-119)In conclusion, capitalism is the best thing to help the United Stateseconomy grow. The entrepreneur is the person who makes this economy rumsmoothly and profitably. A creativ e person at the head of a company can do alotmore than a person who is at the head of a state-runned bureaucracy. This is accepted because the entrepreneur has incentive to do the job correctly, but thebureacrat has none because he knows that his job will still be there tomorrow no proceeds how he performs. I will agree that pure capitalism wont work becauseyou still need environmental laws and other laws to protect the consumer.However, problems begin when extreme collectivistic views like Bill Clintons areimposed.