Capitalism in a Free Market Society

“Capitalism is an economic system that is based on the ability of private ownership of capital. In a capitalist economy, the means of production are distributed to private persons and the market functioning determines the production and pricing of goods and services” (pros-and-cons-of-capitalism 2014).

Capitalism allows for economic growth, it provides meaningful opportunities for open competition by companies in the market. I allows for individuals to compete for a piece of the pie. The open market gives the individuals far better opportunities to raise revenue and achieve economic success (pros-and-cons-of-capitalism 2014).

“The major benefit of capitalism is that it creates a decentralized economy. In a decentralized economy, business’s can thrive, opportunities are abound. Companies are exposed to competition and face different obstacles and have to find ways to overcome those obstacles and stay in competition. It’s is where in a capitalist economy that hard work is rewarded. Entrepreneurs who can deliver their sales pitch will be able to better their business will be the winners” (pros-and-cons-of-capitalism, 2014).

Capitalism gives consumers the ability to control the market. Many consider this as one of the greatest advantages of a capitalist economy. A competitive capitalistic market provides companies a wide variety of products and the formation of a wide range of services. Consumers are happier in a capitalist economy. A competitive market encourages individuals to work towards financial freedom” (pros-and-cons-of-capitalism, 2014).

“Another advantage of Capitalism is that the government has a reduced role of interfering with how the business is regulated. Companies that have less regulations often have a distinct advantage over companies that are bound by what seems to be endless government regulation and bureaucratic red tape” J. Johnson, (2014) The Advantages of Capitalism in Business.

“In addition, there is private...