Capitalism is a system of exploitation. The work of the workers is stolen by those who do nothing. To continue as a world, we need to move on. Capitalism does not even work the way it originally was supposed to. The "free market" does not exist anymore, gigantic corporations with immense power dominate the market. Society cannot survive any longer with capitalism.
The beat generation saw and rejected the capitalist system's failures decades ago. The hippies picked up on it and counterculture movements since have descried the lack of moral compass that is the main problem with capitalist/consumerist agendas. The debate is over. The question should be what can replace it before it eats us all.
Capitalism disregards many ethical issues in pursuit of supply and demand. Many jobs have left the US to help increase profit margins by hiring lower paid workers abroad. While this does work in the short term it hurts our economy in the long run. Less working class people mean less demand. As well, this model has depreciated the value of the environment by constantly trying to cut costs to keep up with inflation. This impacts our health which lays down yet another cost. And lastly since most people can't afford to buy quality merchandise most prefer to make their money stretch by spending at places like Wal-Mart. Most of these products are cheap and break quickly adding more waste to the environment.
... And with no banks... What will these greedy bankers do with so many billions? Are they taking them in their grave? It is like a sickness: the more they have, the more they want. The "power" is just a word they believe is enough to enslave the rest of the people...
Throughout history every powerful entity has consumed itself seeking to maintain its power. Civilizations grow, expand, and divide, like a macrocosm of a cellular life form. The situation for most, if not all dying forms of government take place when it's greatest strengths no longer maintain the status quo, and in fact become it's greatest weakness.
As for capitalism;
-Competition has surpassed the reality where product creation and market prices improve for the greater good based on said competition. An example of it's failure include the quality of products (from too much salt and fat in your food to too much shoddy workmanship on products that you buy to a decreasing amount of customer service), outsourcing (so they don't have to pay you as much), and the implementation of copious amounts of advertising (the most profitable source of income in the U.S today, which ironically makes products and outsourcing even more prolific, because all they have to do is sell it)
-Debt Enough said.
-The American dream drives people apart , people in the U.S.A rate each others lives and their own lives based on how much money they make. The all mighty dollar has not freed the people of the Americas, it has enslaved them, mind, heart, and soul. Who wants to live in a world where other people are ready to send you to the poor house so they can fund a lifestyle that was indoctrinated into their beliefs? "Don't take it personally, it's just business", right?
Evidence of collapse can be attributed in the increased crime rates, the increased immigration rates, huge government budget cuts, Elitism, and an increasingly Jingoistic mentality.
One: capitalist economics at it root subscribes to the "invisible hand" of market self-regulation which is just 18th century deist wishful thinking (supporting evidence, the 2008 Great Recession). Two: the second root of capitalist economics is based on "energetics" an early 19th century discarded theory in physics used as a bandage to incorporate electricity and magnetism into classical mechanics -- economists plagairised these formulae, changed the variable names and announced that they had made economics "scientific". That is why the central core assumptions and capitalist economic formulae state that it is possible to have unlimited growth in a closed and finite system. Three: social and environmental costs are deemed as externalities, external to the formulae of capitalist economics, and thus are unimportant and not to be considered. Four: unregulated capitalism impoverished both society and the environment and destroys the middle class -- it is via regulating and reducing the excesses of capitalism that the middle class grew to its apex in the 1970s. Five: capitalism is undemocratic, despite the old Cold war rhetoric, and prefers autocratic rule over democracy -- is there any form of democracy (outside of the Board of Directors) in the company that you work for?
Capitalism is based on one main principle - Profit.
Giant corporations are allowed to grow and decimate competition, causing 'local' suppliers demand to drop and then be bought over or a lot of business sold to a competitor via shares, thus beginning the cycle again.
It has become apparent that eventually mass globalisation can lead to a worrying one resource to one company world, where everything is controlled by a massive greed powerhouse of %0 profit for everybody besides fat cats in chairs, with all their taxable income probably stored offshore, maybe a corporation can become so rich as to buy its own country to store its taxable income, is worrying in itself.
Hopefully, it is only a matter of time before people will come out of their brainwashed state and realise its time to take back earth for the People, not a CEO.
Originally the democratic political system was set up for the voice of all. But therein lies a problem that Capitalism only serves the primary interests of the top 1%.
Over time as some Social Democratic measures were achieved, Capitalists reacted by increasing their power from funding by wealthy elitists, causing the centre-right political parties to achieve measures that increasingly exploit the poor. This itself is a problem as for society to achieve the best outcome, all citizens must be able to engage and function properly in that society.
Capitalism is failing everywhere, look at the United States or Malaysia for example. Both have inherited Capitalist systems and cannot function properly as a result. I do not believe that Socialism, let alone Communism, has all the answers. But Social Democracy functions far better than Capitalism does as it provides an economy for all members of society, not just those in wealthy elitist positions. To ignore the other 99% of the population is just purely ignorant and selfish of what an economy really requires to function properly.
Capitalism is failing in the same way a diseased life form is failing. Its waste, inequality and other abuses against humanity, other species and the environment are encysted by welfare, tokenism, irrational dogma, indoctrination and violence, staving off death. But the encystment of its growing disease wastes yet more resources, and so, like a tree staving off infection by encysting it in a gall, the body politic grows, but under at an increasing disadvantage. Straining under its cancerous profiteering like a bloated moron, choking on its own pus but disguising it with jewelry, each deforming infection undermines the viability of its life and livelihood.
The key premise of capitalism is profit. Profit needs to be made, in order for the corporation to attract shareholders. To make a profit, resources need to be extracted, manipulated and delivered as product. The resources are all taken directly from nature, our heritage, our home, then exchanged for chemical runoff, poisons, wholesale destruction. For a corporation, little thought is invested in anything other than short term profits, through delivery of products not needed, to an increasingly impoverished working class, trading hours for petty wages. The privileged few oblivious to our needs. They only care for wealth creation by any means. Morality is optional but often a burden. This is not a world i want my children to live in.
When I say “capitalism,” I mean a full, pure, uncontrolled, unregulated laissez-faire capitalism—with a separation of state and economics, in the same way and for the same reasons as the separation of state and church.
The moral justification of capitalism does not lie in the altruist claim that it represents the best way to achieve “the common good.” It is true that capitalism does—if that catch-phrase has any meaning—but this is merely a secondary consequence. The moral justification of capitalism lies in the fact that it is the only system consonant with man’s rational nature, that it protects man’s survival qua man, and that its ruling principle is: justice.
Capitalism is not dying. It is still the best way to organise society that we know of (so far). I would suggest that it is evolving; that capitalism, as we currently know it, has reached its zenith and is now rolling back (greed is no longer good, greed is no longer right). We are entering an exciting second phase of capitalism whereby the relationship between labour and capital is changing and becoming more of a 'mutually beneficial' relationship, it's leveling out a little bit...And these will be the companies that take us into the future. Watch this space kids, it's going to get interesting.
Capitalism was always in our system, even before we really understood the economy. In the past, there were trades where people traded things for other things, for example, a cow for 5 chickens. The people who were most capable were able to catch and control more cows, and in our current view, they'd be considered richer. The system can't fail unless one day all humans are no longer greedy. As long as one person is still greedy, and still wants more than others, then capitalism will always be there. The only alternative, socialism or communism, where wealth and other things are shared within the society and people, is very theoretical, and will only exist in an imagined world, as it's in our nature to be greedy.
The question asks if capitalism is failing, and as stated above, I believe it isn't, and never will until we, as humans, evolve mentally. However, if the question asks if the current economic structure is failing, then yes I'd agree. As the previous major powers of the world, like the United States, European Union, United Kingdom, are all failing and facing major economic crisis. It's just a matter of time before this current economic structure collapses. After that, how would the economy work, will we turn to communism or return to capitalism. I believe that we will never fail, one nation will want to be the strongest and control everything, therefore capitalists come in and build the country's economy, and bring them to a golden age, and in no will communism ever succeed in doing so.
Capitalism functions well when allowed to. Unfortunately the current system in the United States is failing because it is an attempt to mix capitalism and socialism. Such an attempt at mixture inevitably results in a less efficient economic system because of the inefficiencies of socialism. Unfortunately, even a small mixture of the two can result in a growing system which becomes ever more socialist due to the fact that each failure of the mixed system can trigger more reactionary regulation and growth of government. Of course the mixed system can also drift back towards capitalism once it is realized that the growth of government is the true destroyer of prosperity.
The very basis of modern politics both in the United Kingdom and the USA have often hinged on economic policies. It cannot be possible for both major formats of economical structure to have failed in a modern society. Communism was proved to be inefficient and resulted in the former Eastern Bloc countries being decades behind their Capitalist counterparts when the USSR fell. Capitalism being the very basis of modern society would mean that the failure of capitalism would be reflected in the law and order of modern nations. If capitalism were failing, then why is it the case that the vast majority of economic superpowers (with the exception of China) are capitalist nations with a relatively free market. Capitalism is the greatest motivator of worker production as it provides incentives for those who are skilled and capable.
The issue is that the label of Capitalism is being used when the situation does not warrant it. I shall take the example of the 2009 Banking Recession and the effects upon the UK. A number of people claimed that it was the greed associated with capitalism that forced the United Kingdom into huge deficits. However it should be noted that huge amounts of debt were accumulated in the payment for the National Health Service and other public services, which would not exist in a truly capitalist society.
No, capitalism has been proven to work for the last 100 years as it had maintained THE economic giant of the world in the USA. It would be a great exaggeration on my part to say that capitalist systems which exist today are perfect in every way. Because they are not. However, it is the only system of economic organisation which has managed to exist in the form of a democracy. What must be done now is to make sure that the line between competitive businesses and downright aggressive is maintained by governments to make sure that each business is given a fair opportunity.
Clearly what is going on in today's world is demonstrating that the current system of government interventionism, corporate complexes and inflationary theft is not working.
Capitalism is about private ownership of the means of production. If you think you can fully own anything (even your own body) in today's world, you are gravely mistaken.
Here, we're not even allowed to own money that isn't devalued in order to give hand outs to elite. Plutocracy is failing.
Pro makes three separate arguments:
1. Capitalism is inherently bad because it "exploits the workers"
2. Capitalism isn't even capitalism any longer
3. Society cannot survive with capitalism
All to support the argument that capitalism is "failing"
1 & 3 are completely irrelevant to the central premise and 2 presents a forgone conclusion of the central premise with no logical steps in between. You might as well have wrote: "Unicorns are only purple in color" and written "because they are" as your support.
We need not argue what capitalism is, but its effect on the nations who employ it. Most every capitalist nation has a strong and robust economy. What alternative is there as well? Communism? NO Fascism? NO Socialism? It doesn't operate well in most modern countries as evident in Europe's current crisis.