Capitalistic Ideology

Monday, December 27, 2021 5:13:32 AM

Capitalistic Ideology



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Capitalism, Socialism, and Communism Compared

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China has been a socialist nation since the latter half of the 20th century. Yet, the last 20 years have brought extensive economic reforms that have transformed the country into a pseudo-capitalist market economy. Has this economic transformation been …show more content… It focuses on three areas: 1 Audience analysis; 2 Idea development; 3 Message structuring. In short, the planning process should include analyzing the needs of your audience, developing sound ideas that meet their needs, and then structuring your message.

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Message structure needs a good outline. Message structure needs to be persuasive, but clear for the audience, so that the audience can understand and be able to make connections or relate to. Reference …show more content… When it comes to the facts that my instructor had written me, there were a lot of facts and conclusions written in her statement. She clearly told me what and how she expected me to do my work. She told me how i need to rewrite my words in a corrective way. The message that she wrote me targeted me in a bad way because i have never been corrected from a professional teacher in the manner that she has corrected me. My suggestion to my teacher would be tell her that when she hs a problem with someone when it comes to their homework, there are more appropriate ways to say things and to handle situations.

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Open Document. The Bottom Line. Key Takeaways Capitalism is an economic system that focuses on a free market to determine the most efficient allocation of resources and sets prices based on supply and demand. Socialism is often presented as the opposite of capitalism whereby there is no free market and the allocation of resources is determined by a central body. Capitalism has many unique features, some of which include a two-class system, private ownership, a profit motive, minimal government intervention, and competition.

Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace. Related Articles. Macroeconomics What are the most important aspects of a capitalist system? Economics What are the main differences between a mixed economic system and pure capitalism? Partner Links. Related Terms Socialism Socialism is an economic and political system based on public or collective ownership of the means of production that emphasizes economic equality. Marxism: Theory, Effects, and Examples Marxism is the set of social, political, and economic theories created and espoused by Karl Marx, which became a prominent school of socialist thought.

What Is a Command Economy? A command economy is a system in which a central governmental authority dictates the levels of production that are permitted. Administered Price Definition An administered price is the price of a good or service as dictated by a government, as opposed to market forces. Capitalism Capitalism is an economic system whereby monetary goods are owned by individuals or companies. The purest form of capitalism is free market or laissez-faire capitalism. Here, private individuals are unrestrained in determining where to invest, what to produce, and at which prices to exchange goods and services.

What Are Factors of Production? Factors of production are the inputs needed for the creation of a good or service. The factors of production include land, labor, entrepreneurship, and capital. The same applies to capitalists. Freedom comes when an individual can come up with a set of activities to undertake in life. Proponents of capitalism have the ultimate goal of accumulating as much wealth as they can; hence, capitalism helps them in developing a program to follow in order to achieve their dreams. Conversely, socialism believes in centralized control of the national economy and abolition of private property Galbraith For socialists, they perceive freedom in the sense of owning property communally, thus being in a position to acquire or use any asset whenever there is a need.

Socialism perceives economy as the agent of freedom while the major constraint lies in establishing ways through which the public can own the national economy. The achievement or outcome variable in socialism is the ability to abolish private ownership of property and accumulate wealth on a communal basis. Hence, socialism views freedom as the ability to do away with individual property ownership and embrace communal property ownership. Capitalism was associated with oppression of the poor by the rich individuals. Hence, most of the poor people found life to be a worthless venture for they had nothing to enjoy in life Galbraith In a bid to overcome this feeling, people had to look for a way that would set them free and give them a new meaning to life.

Socialism turned out to be the most appropriate way since it promoted communal property ownership, thus implying that all people had equal rights to all properties. Furthermore, socialism offered the society a platform for assessing the right and wrong social practices. For instance, socialists perceived capitalism as an unethical practice since it promoted unhealthy competition thus leading to disunity in the society. Individuals supporting socialism viewed it as the ultimate source of their identity. They venerated the culture of communal property ownership and wished to associate with it. An ideology helps in giving its supporters a series of actions to undertake and this element applies in socialism.

It helps its proponents in coming up with a set of projects that can promote social ties amongst themselves. Currently, capitalism is gradually becoming one of the resurgent powers. According to Dumenil and Levy , the world is encountering the emergence of a new class of capitalists. Currently, economies of most nations are drifting towards a novel and deep-rooted class of inequality. Capitalism has not only affected the global political economy, but also the global political consciousness.

Currently, countries are tolerant to inequality than ever before. In addition, the workplace culture has become parallel to neo-feudalism Harvey On the other hand, socialism has had a significant effect on global politics. After nations realized that it was hard to achieve environmental conservation goals in a capitalistic regime, they embarked on political ideology dubbed eco-socialism. The ideology seeks to bring together all stakeholders to work as a group towards embracing environmental conservation policies.

According to Ma , states can achieve environmental conservation goals by changing from capitalists to welfarist states. Currently, most of the Asian countries are establishing self-governing systems of alliances to create ecological democracies beyond what is established by their states. For instance, India has come up with an eco-socialist movement that works under the guidelines of social justice. Currently, different nations embrace one of the two distinct and opposing ways of life. While the majority of Western countries embrace capitalism, some of the Eastern countries continue exercising socialism.

On the other hand, socialism emerged during the epoch of the industrial revolution as a means to counter the oppression perpetrated by the rich on the disadvantaged. The two political ideologies have different perceptions about freedom. Capitalism views freedom in terms of wealth accumulation. They believe that wealth accumulation allows an individual to assume a particular identity. On the other hand, socialists perceive freedom in terms of having control over national economic wealth.

Socialists believe that people can only be free if they have the liberty to use national economic resources without restrictions.

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