Defending a Charge Against Capitalism

Defending A Charge Against Capitalism

“Capitalism is charged with the blatant disregard for human dignity and the environment, and with the inefficient allocation of resources, all of which negatively impact national wealth.”

Capitalism is an economic system in which wealth, and the means of producing wealth, are privately owned and controlled rather than commonly, publicly, or state-owned and controlled. Through capitalism, the land, labor, and capital are owned, operated, and traded by private individuals or corporations, and investments, distribution, income, production, pricing and supply of goods, commodities and services are determined by voluntary private decision in a market economy. A distinguishing feature of capitalism is that each person owns his or her own labor and therefore is allowed to sell the use of it to employers.

Capitalism’s relationship/treatment of:

Human Rights:

Capitalism is the system that is based on total respect for the principle of human rights. It is the only system that recognizes the rights of all humans in a society, not just those who are poor and not just those who are rich. There are some systems that grant more rights to the upper classes and the "aristocrats" at the expense of the rights of the poor and there are some systems that grant more rights to the poor and underprivileged at the expense of the rights of the rich or upper classes. Both of these systems are wrong in that they aim at "fulfilling" the rights of one class by trampling on the rights of others.

The Environment:

All the trash that we throw is not wasted. It is recycled by the businesses so that it can be used again. Businesses also do it because they earn revenue from it. So in a way businesses also help in cleaning environment and earning revenue from it at the same time. So it cannot be said that businesses are damaging the environment.

Resource Allocation:

Resource allocation is a plan for using available resources, for example human...