Capitalism is an economic system in which capital goods are owned, operated and traded by private individuals, businesses, or corporations for the purpose of profit. In a capitalist system, private control of these productive enterprises is protected by the rule of law. A capitalist political system protects the exchange and distribution of capital between legal or private persons, which is driven by competition and profit-maximization, and where investments, distribution, income, production and pricing of goods, commodities and services are predominantly determined through the operation of a market economy in which anyone can participate in supply and demand and form contracts with anyone else, rather than by central economic planning. Human labor power is for sale in the market as one of ...
UN General Assembly President Miguel d'Escoto Brockmann said on Wednesday that the current global economic and financial crisis proves that the logic of capitalism is evil and suicidal. During a ministerial meeting of the Coordinating Bureau of the Non-Aligned Countries (NAM) hosted in Havana, d'Escoto said that the current world order promotes selfishness, usury as well as social and environmental irresponsibility. "Those are the values of the capitalist culture, so bad is the situation that we take seriously our universal brotherhood and its consequences or we all die," d'Escoto ...
a3 - in poll Capitalism versus Socialism Political economy – that is, the way that human societies organize and direct their economic activities – has been defined by a choice between two unpromising alternatives. Calling them simply “capitalism” and “socialism,” popular as this habit is, misstates the matter, because they were much more specific than that.The first might better be called corporate capitalism, as it recycled older forms of capitalism in the service of the weird social fiction of the corporation, a “legal person” that has more rights and fewer responsibilities than the ...
123 - in poll Capitalism versus Socialism The basic idea that dominated economics and politics in the last century has patently disappeared down the plughole of history in terms of two mutually exclusive opposites: capitalism or socialism.
Nobody seriously thinks of returning to the socialist systems of the Soviet type - not only because of their political faults, but also because of the increasing sluggishness and inefficiency of their economies - though this should not lead us to underestimate their impressive social and educational achievements. On the other hand, until the global free market imploded last year, even the ...
RobinT - in poll Capitalism versus Socialism
