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Analysis of Capitalism Debate - Book Report/Review Example

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This essay discusses the consequences of capitalism in comparison to those of socialism stand to be far graver than socialism due to the harm to society. The essay focuses on the universal well-being of the society over individual benefit as seen in the 2008 financial crisis…
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Analysis of Capitalism Debate
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Download file to see previous pages   With this in mind, the consequences of capitalism in ancient times can be attributed to the rise of industrialization, which is the focus, when one observes the industrial revolution in Europe. This rose due to capitalism as there was demand, and money or currency, which is important for industries to thrive.2 Comparing this to socialism, the debate takes a turn for different events in that socialism leads not to economic development and thriving of industries conducted and run by a few people. Instead, it depicts that socialism stands for everything that opposes capitalism in that a comparison of Europe and China during the time of the industrial revolution depicts a great discrepancy in that it took quite long for China to get to the level of capitalist Europe. This goes contrary to the principles of socialism, where Asian technology remained saturated in socialist Asia, but not for commercial purposes, as was the case with the industrial revolution of Europe, which was mainly commercial.
Then consequences of capitalism further manifest themselves in the wide variance found in conventional socialist third world countries. This is because capitalism stands for individual gain as can be seen in the consequences of colonial and pre-colonial times, where the English man only served to enrich himself during the colonial times leaving the local peasants high and dry. This is evident in the events of drought and famine that residents of third world countries face, while the same socialist societies fed the and showed hospitality to the colonialist in their times of need. Evidence to support the division in socialist and capitalist opinion lies in the hospitality of the local third world peasants, and the oppression of the colonial masters against socialists.   ...Download file to see next pagesRead More
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