Capitalism

As a judge’s son I learned how politics and laws work. I always have been motivated by our society and its laws. At my home, politics is one of the most talked topics and most argued; we watch the news and talk about them during dinner. All the problems throughout the world are just based on differences of thoughts and traditions; there are two main social systems in which we now live and theyare different in several ways. When we talk about capitalism and communism the first thing we think of is the differences of thoughts about private property, wealth, and class division.
As we know, communism (branch of Socialism) is the belief in the equality in all aspects; no private property and no social classes (rich, poor) and capitalism (social system based on human rights) is thebelief in wealth as private property and different social classes.
According to Brue, “capitalism is an economic system based on private ownership of capital” (34). This is the best way to describe capitalism in the economical way.
I have noticed how capitalism changes through the new economies of the world. The economy at this point is very complicated to understand and to get into it.
Rightnow economists don’t really know when an economic problem can be and what can cause it. The economy and with it the industrialization are advancing significantly through the years. It is true that capitalism act in the economy but they are very different at the same time. “Capitalism is much larger and complex entity than the market system we use as its equivalent” (Heilbroner, 96).
Capitalismchanged the way of life in almost all countries in Europe and Asia in the middle ages, during the conquest of the Americas and then during the World Wars.
The history of capitalism begins with the economic system known as Mercantilism; LaHaye states in the website of Library Economics Liberty that, “Mercantilism is economic nationalism for the purpose of building a wealthy and powerful state.”Mercantilism was of a short age, meaning that it didn’t established a stable system as feudalism took the power of the economy after the fall of the Roman Empire which was the first one to act with mercantilism.
While feudalism was the economic and political system during a long period of time Industrial Revolution came up and the changes in the economy made by this, known as industrialism,altered the believe in one person as the owner of everything and what it produced. Nardinelli states in the Library Economics Liberty website, that “industrialism improves technology, education and the increase of the capital stock which transformed England in the workshop of the world.” Although feudalism was controlling the economy it was falling notably. Industrialism change and took over thepower of feudal lords. All the monarchies were changing and with the industrial revolution they were losing power and territory. Although industrialism came with help for some people and new better things it also cause some problems that right now we still dealing with as child labor and urbanization.
Then after some years capitalism began with monopolisms; According to Amazines website,“monopolisms exists when a specific individual or enterprise has sufficient control over a particular product or service to determine significantly the terms on which other individuals shall have access to it.” In the United States, this system, that began after the Civil War, is still founded in the oil, telecommunication, railroad, shipping, banking and financial industries.
All these changes ofcapitalism and changes of the world gave up as result Globalization. We have heard all about globalization and the global world; Globalization is known as the international economies unified or the act of join them as one. According to Globalization101.org,
Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process...