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What Is Capitalism?, This Essay Defines Capitalism By Using Examples Written In Essay Form.

1058 words - 4 pages

Capitalism is a term that originated with the help of a number of historical cultures, which had a number of different world views. The term capitalism when used to describe European practices means more than just a group of social practices applied across historical and geographical distances. Capitalism is also a way of thinking. Originating in Rome, the Middle East, and the Middle Ages, mercantilism is the earliest form of capitalism. Mercantilism involves the distribution of products in order to obtain a profit. Products are bought for a certain price somewhere and are then sold at a higher price somewhere else. Over time in Europe, mercantilism evolved into capitalism. As with mercantilism, capitalism is the large-scale realization of achieving a profit by selling goods for more than they were paid for originally. Distribution of wealth, freedom, free-competition and a limited government are some main characteristics of a capitalistic economy.One aspect of capitalism is the distribution of wealth. With the distribution of wealth, capitalism distributes wealth fairly to those who earned it based on how much they produced. Under capitalism, wealth is not a collective resource to be distributed by some totalitarian or his buddies, but is produced by individuals. Wealth belongs to the individual who produced it. Basically, wealth is the product of man's mind and belongs to each man to the extent that he created it. In a joint venture how does someone determine what share of the wealth each person would get? Under Capitalism, if more than one individual took part in that production, each deserves his share according to how much of it they produced as mutually agreed upon amongst themselves by their own free-will. The general principle in such cases would be that those who produce less receive less and those who produced more, receive more. Someone can neither demand more than he deserves because he is full of "greed", or demand less than he deserves, because he feels need. All he can demand is what the market will offer him. The name of this principle is justice; the judge in all such cases being the marketplace. What about those who demand production for use as opposed to production for profit? Mean is the forced expropriation of the production of some who are said to have "greed" for the use of others who are either unwilling or unable to produce it who are said to have "need". The proper name for this is theft, or slavery. Wealth, like its corollary knowledge, is not a static quantity, but is potentially limitless. In a capitalist society, the only limit to someone's wealth is the power of his ability to think and produce and the ability of those around him to think and produce. If someone would like for the wealth of all men to increase, only one requirement is necessary, freedom.The aspect of freedom under capitalism has only one meaning which is freedom from the initiation of force by others. From a political perspective, freedom means to...

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