Capitalism - A Grossly Glorified Economic System.

Capitalism is a socio-economic system that has developed since the Industrial Revolution . It replaced the feudal system and the system of craft skills in the seventeenth century . In the Capitalist system, the production and distribution of goods depends on invested private capital and profit making. The function of regulating the economy is achieved largely through the operation of market forces . Capitalism has had advantages and disadvantages, this essay will explain these, and also give my …

…up, Capitalism has brought about social and economic disparities and the exploitative power and inequalities generated by this system seem to undermine the advantages it confers. Bibliography Galbraith, J. The Culture of Contentment. Boston: Houghton Mifflin Company, 1992. Hardin, G. "The Tragedy of the Commons." American Association for the Advancement of Science 162, (1968): 1243-48. Heilbroner, R. 21st Century Capitalism. Toronto: Anansi Press, 1992. Marcuse, H. One-Dimensional Man: Studies in the Ideology of Advanced Industrial Society. Boston: Beacon Press, 1964.