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The culture of capitalism - Essay Example

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They are governed by the societal norms and they believe the same values, attitudes and culture is followed by people all over the world (Wikipedia). Culture of capitalism could…
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Download file to see previous pages Capitalism as a social formation started to replace feudalism. Various factors led to the creation of culture of capitalism, which include profit motive, commodity, human desire and the market economy (Price, 2005). 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 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 belief 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 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 a 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 the global capitalism. The Atlantic slave trade that started as a trickle in 1440s grew gradually through 17th century. By 1780 an average of 80000 African slaves arrived on American shores (MSN, 2006). Slaves were the greatest exports at one point of time. The vast majority of slaves transported to America worked on agricultural plantations. Most of the plantations produced sugarcane for ...Download file to see next pagesRead More
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