American Capitalism Essay
This is not an example of the work produced by our Essay Writing Service. You can view samples of our professional work here. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UK Essays. These stories, however, were often the handpicked, sugar-coated experiences of the select group of men who were given lucky breaks and circumvented the horrors and hardships of surviving the unrestrained capitalist machine of America.
In The Jungle, a fictional Lithuanian family, led by a man named Jurgis, travels to America in search of their own version of the American dream. For instance, in The Jungle, Jurgis and Ona expect their wedding feast to be paid for by the guests as in Lithuanian tradition, but end up having a large debt to pay back to the owner of the venue all by themselves Sinclair Capitalism puts a heavy burden on this family right from the start.
This is an important hardship that should not be forgotten in any credible account of the Gilded Age. In reality, the nature of capitalism did motivate people to do whatever they had to in order to increase their personal gains, no matter what the consequences for others in their paths.
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Even more peculiar is the fact that Scott has no apparent personal gain from this kind gesture Carnegie xv. Acts of kindness and pure selflessness were not characteristic of the time and economic values that the country was based upon. In The Jungle, Jurgis remains unwaveringly determined to work for the good of his family throughout the start of his life in America, even after experiencing multiple deaths in the family, severely injuring his ankle, being forced to work in an extremely healthy and disgusting fertilizer plant, and other many other sources of suffering Sinclair 96, , Despite his hard work and resilience, however, Jurgis and his family can never seem to gain any lasting prosperity or success.
This finally becomes too much for Jurgis to handle and results in him fleeing town and abandoning what is left of his family Sinclair The Jungle, in this way, is yet again a more credible and accurate portrayal of the truths of capitalism and life during the Gilded Age.
While unrestricted capitalism caused drastic hardships for the majority of Americans, it has also served the future of the country as a whole in a positive way. Capitalism does thrive on greed and selfishness, as Sinclair attempts to highlight throughout his novel, but those greedy and selfish acts are necessary to sustain the ultimate wealth and prosperity of the nation. Joseph Kennedy thought so when he went to work for President Roosevelt. Anthony W. His latest book Letter to the One Percent is available at www. I wish there were more prominent business leaders and academics speaking out about the impact of economic inequality on both Capitalism and Democracy.
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In my opinion, Capitalism has run amok and is indeed threatening our democratic way of life and leading to corruption. I believe this problem was made even worse in Jan, when our Supreme Court ruled in favor of Citizens United. This ruling is all about economic inequality and to call it freedom of speech is laughable. This reads like White House propaganda. This essay focuses exclusively on the rise of income inequality in the US and completely ignores the rise of globalization.
Using the Great Depression as a lesson today is completely useless. Back then a massive wealth redistribution plan did wonders. Today all it would do other than generally be squandered by government inefficiency is enrich Chinese factory owners when US workers buy their stuff.
Capitalism - Wikipedia
The lot of the middle class in the US has stopped improving because they now compete for relatively low skilled jobs with hundred of millions in other parts of the world. This article has said nothing about the more than 1 billion humans taken out of poverty world wide — in China, Brazil, India, part of Africa etc. A massive redistribution of wealth and income and has taken place on a worldwide scale and this article completely ignores that. The only way for Americans to compete going forward is to out skill everyone else and that starts at primary schools.
That is something no one ever talks about. Grabbing from the rich and giving to the poor in and of itself does nothing for the long term health of a country and there is a massive volume of research that also shows that — none of which was mentioned in this article. If our economy is the relationship between the firms and the households, as modulated by the government, supposedly resulting in the circular flow of capital, labor, supply and demand yet our interpretation of capitalist philosophy mandates that the firms concentrate wealth and in the interest of concentrating wealth be as efficient as possible and in the interest of efficiency reduce or eliminate labor costs so that, in effect, the firms sole endeavor is to suck as much wealth as possible out of the circular flow, pooling it in the hands of as few as possible while, at the same time, impeding the ability of as many as possible to participate in the economy while contributing to the destruction of the planetary life support systems as well as life itself then capitalism has reached the point of diminishing returns as a viable strategy for fostering the equitable and sustainable distribution of the domestic and global economy.
Che Guevara? Feudalism resulted in Communism resulted in the total impoverishment of entire populations so even if before the poor had very little after they had even less. Capitalism works because it allocates resources efficiently across countries, industries and companies with the net result that the total size of the pie of resources keeps getting bigger. Your statement that in capitalism firms must concentrate wealth is erroneous — companies regularly shed wealth by selling parts of businesses, shutting unproductive ones, paying dividends, etc.
Is the wealth shipping to Mars or Neptune. The biggest problem with your argument is the fact that it focuses on the actions of 1 company and condemns the entire system as predatory and cruel when in reality the system is the relevant unit of observation. The wealth generated in 1 company is recycled and redistributed into others which grow. This dynamic can and demonstrably has resulted in all that surplus labor you refer to being absorbed in other firms.
What the heck is that all about. Who exactly are these firms selling their things to? Is Wal-Mart really trying to reduce the ability of as many as possible to participate in the economy?
I suspect your biggest issue is the increasing income inequality we see in the US. I reiterate my point that in places like China million people have been taken out of the most miserable and abject poverty by capitalism. Countless other millions also in India, Brazil and parts of Africa. This is undeniable and can be seen on the ground in those countries. In those countries firms came to use cheap unskilled labor.
Those jobs came from the developed world.
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They are not coming back to the US ever. This has led directly to the increase in income and wealth distribution we see today in all the developed world. They should be given the opportunity to skill up to jobs that are available here. Hundreds of thousands of good jobs are open and available a fact not an ideological opinion — just check the figures on demand for H1 and L1 visas — we just need to prepare people here for them with good schools and universities that sadly is rarely if ever on the national agenda.
I thank you for your attention if you made it this far.