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Culture of Capitalism - Essay Example

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This paper "Culture of Capitalism" discusses capitalism as a social formation that started to replace feudalism. Various factors led to the creation of a culture of capitalism, which includes profit motive, commodity, human desire, and the market economy…
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Culture of Capitalism
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Download file to see previous pages The desire for profit was the main motive for the economy regardless of human rights and environmental issues (Wikipedia). The market economy was based on the concept of making money (through employment) and spending money known as consumerism. In a capitalist society, the means of production are consolidated under private ownership, and the production of commodities is guided by the profit motive to satisfy human desires. The culture of capitalism created a new type of person and as the economy and consequently capitalism grew and the societal norms values, attitudes, and beliefs changed. The work culture underwent a change as did the desires and the tastes. ‘Consumer’ was a new type of person defined in monetary terms. Capitalism encourages people to engage in an activity that is deemed valuable by other people (Price). This positive attitude towards capitalism is the reason for the success of the system.

Between 1440 and 1880 Europeans and North Americans exchanged merchandise for slaves who were then transported to other locations around the Atlantic Ocean. The Atlantic slave trade involved the largest intercontinental migration of people. Demand for labor on plantations gave momentum to the Atlantic slave trade. The Atlantic slave trade became an integral part of an international trading system and led to the expansion of global capitalism. The Atlantic slave trade that started as a trickle in the 1440s grew gradually through the 17th century. By 1780 an average of 80000 African slaves arrived on American shores (MSN, 2006). Slaves were the greatest exports at one point in time. The vast majority of slaves transported to America worked on agricultural plantations. Most of the plantations produced sugarcane for Europe, but planters eventually grew such other products as coffee, cocoa, rice, indigo, tobacco, and cotton.  ...Download file to see next pagesRead More
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