Concept of Capitalism

I would like to tell you about capitalism which has been characterized as “creative destruction”. The main goals of my project are to describe the concept of capitalism, the history of capitalism and its basic lines, to prove the thesis that capitalism is really a creative destruction and to answer question how the opposing forces of change bear on the question of the meaning and experience of work today.

The concept of capitalism

According to Mark Block the word “capitalist” is "a splinter of a slang of speculators at the first European stock exchanges". (Blok,1973)

According to Akulov capitalism is the economic system of the manufacture and distribution based on a private property, general legal equality and a freedom of enterprise. The main criterion for the acceptance of economic decisions is the aspiration to increase a capital and to get a profit.

The famous scientific Yavlinsky considers capitalism to be an economic abstraction in which characteristic features of economy are allocated at a certain stage of its development. The real economy of the concrete countries has never based only on a private property and has not given a full freedom of enterprise. There were always unusual lines for capitalism such as class privileges, restrictions on possession of the property, including restrictions on the sizes of the real estate or the ground areas, traffic walls, anti-monopoly rules, etc. A part from them is a heritage of the previous epoch.

Capitalism is an economic system in which industrial decisions are supervised by those who invests in a private business. Thus, the joint-stock companies are supervised by shareholders.

The basic features of capitalism are a domination of commodity-money relations and a private property on the means of production. The presence of the developed public division of labour, growth of nationalisation of manufacture, transformation of a labour into the goods, operation of hired workers by capitalists. The purpose of...