Capitalism has always been regarded as one of the most liberal forms of social set ups that exist around the globe today. It is individual centered and there is a clear demarcation between the state and private ownership. Individuals have greater freedom and restrictions are at their minimal. And, while many of you by now have already started speculating on the topic, here’s a list of the top 10 interesting facts about capitalism you’ll enjoy reading. Take a look!
While most of us have the illusion that private ownership of means of production is far more beneficial and competitive, you’ll be surprised that according to a recent study conducted by BBC, only 11 percent people surveyed in 27 countries were in favor of capitalism. From USA, a well known capitalist economy, only 25 percent were in favor of it. There is opposition to it.
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Ok, now this is an interesting argument; can capitalism really ensure better health? Of course, the answer here is yes! Since, capitalism inspires more freedom, growth and progress; people do have the will to switch to healthier lifestyles for better productivity. This is the reason why we see a growth in the production of organic food, and far cheaper seeds and fertilizers.
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We often see that in a capitalistic economy every profession is highly accountable and competitive. Every person gets remunerated according to his/her ability and productivity, unlike other social set ups, where lethargy and undervaluing certain professions is a common thing. Also, in such a set up every profession is given equal importance, and therefore chances of social disparity are minimal.
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The concept of capitalism promotes each one to take up jobs, and tasks that they like doing and not what the society prescribes is best for them. So, whether it is a sports star or a shoe maker, they are all satisfied with the work they do and live their lives happy. Each person offers equal respect to the tasks and professions of all others, making the social set up more equitable metaphorically.
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One of the interesting facts about capitalism is greed. While greed is a well defined human need, it is also arguably the basis for capitalism. Greed for money, power, and performance are stimulators for taking the economy and every individual ahead in life. There is greater competition and fight for every penny people earn, which in turn promotes greater innovation, and efficiency.
Since capitalism rewards the best with the best, it promotes each individual to give his best to every task at hand. Returns are directly co-related to the productivity and output of each person, and hence individuals remain motivated to stay ahead in the race always.
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Capitalism gives every individual the freedom to choose the life he wants and also choose the career he would like to pursue. The society has no rules to bind you or even force into doing anything; therefore, you have all the freedom to make the rules of your life. Isn’t it one of the interesting facts about capitalism?
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The economy of a capitalist country automatically generates more progress. Since every enterprise and individual is motivated by returns, they all give their best shot to learn what’s to be done. And, if every firm and every person perform their best up to the optimal level, the economy on the whole too derives its benefits in terms of growth and progress.
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Why do we see some of the best production houses are located in USA? The simple underlying reason for this is that USA is a capitalist economy, and promotes free market system, where there are no barriers to entry, no undue regulations imposed by the government. The limitation that can halt you is your own inability to go ahead in meet the competition head on.
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Democracy is not only limited to giving the right to vote to all ethnic groups that reside in a country, but also giving every citizen the right to express their view points and opinions about everything that is happening around them. And, while most systems give a limited degree of freedom of expression, Capitalism tops the charts.
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