Capitalism In America
What is capitalism? The definition of capitalism is an economic and political system in which a country 's trade and industry are controlled by private owners for profit, rather than by the state. They make money off of sellers with little to no government interference. The capitalist theory is that supply and demand will make sure that people get whatever they want at the cheapest price possible. It is a system where people allow market forces to dictate the flow of the economy. Also known as the free market system, capitalism requires unregulated supply and demand and little or no government interference in matters of trade. Each individual is free to produce what he or she wants and to sell it at whatever price the market will support. These …show more content…
Capitalism results in class distinction. Obviously the upper class has more money and many times they feel that because they have more money, they are better than those of a lower class than them. In Gregory Mantsios, Class In America-2009, he states four different myths about the United States. Myth four states that everyone has an equal chance to succeed. “In America, anyone can become a millionaire;…” (Mantsios 179). This is one of the biggest lies I have ever read. Many of the people who are successful were already born into it. In 2005, the average salary was $25,000. I do agree with reality seven which says that racism and sexism effects class in society (Mantsios 179). A lot of times, the chance to become successful are based on your gender and race and your family background. If you find yourself in a dangerous legal situation, you can hire an attorney to ensure your case is heard justly if you were a part of the upper class or the upper class. The same applies to if you were to become sick because you can seek medical care immediately and not just “hope it goes away.” You also don’t have to worry that teachers or employers will treat you poorly or have negative expectations of you because of your class. The upper class seems to have all these benefits when many people of the lower class work twice as hard everyday and can barely put food on the table for their families. Class antagonism seems to be a frequent problem as well. Class antagonism is the tension that exists in society due to social economic interests and desires between people of different
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