Mohamed Aziz Guizani
27 May 2017
Capitalism and Its Flaws
The ultimate source of profit, the driving force behind capitalist production, relies on the unpaid or low paid labor of workers. A capitalist economy is an unfair system for any country to live by. It promotes the systematic exploitation of workers and instead thrives on people who are rich and in power. Most of the time, the elite are not in a position to rule an industry and are merely taking advantage of other human beings who were born less fortunate. It takes unfair advantage of others vulnerability in order to maximize the profit of wealthy people that owns the meaning of the product. This wealthy class wants to pay as little as possible and get as much work from workers as possible. Therefore, they barely do a fraction of the work but make the majority of the profit. They discourage local production and encourage unregulated growth of corporations that exploit local labor for their own profits. This is contradicting the health and wellness of the eat local mindset of the new generation. Workers today work more hours for less money and worse conditions. Workers are exploited under capitalism due to the unfair economic system, inequality, in valued employees, unfair pay, unhealthy competition, and it predominantly dictates wage labor.
Capitalism is an economic system that supports the wealthy. Essentially, the rich rule the economy. Under the economic system of capitalism, competition ultimately leads not to higher output at lower prices. Popular companies dictate pricing so that consumers are forced to pay those prices.Others believe, competition leads to monopolies, such as utility and cable companies like Comcast or in the past, companies like U.S. Steel, Standard Oil, and American Tobacco Company. Popular companies like these dictate pricing so that consumers are forced to pay those prices. Heads of big companies like these, hoard their wealth and delegate it out in bad ways. This was exactly what the country was trying to prevent, from one small group of people from deciding the economy of the entire nation and dictating the money and control. On the contrary, the founding fathers of the United States of America founded this country on a democratic cornerstone. The theory of capitalism is against what our country stands for. As beautifully put in an Anti-Capitalism website, “Capitalism is anti-democratic...This one is easy. Capitalism is a wealth-concentrating system. If you concentrate wealth in a society, you concentrate power.” (Jensen 2016) Private companies try to saturate the market and monopolize the business in their specialty so that small business owners or others who work for a company do not have as much of a chance.
Capitalism generates inequality for people all around the country even though our constitution says that we are all equal. Capitalism makes a larger divide between classes, such as rich and poor, ranks in job, status...