Some argued that the miraculous economic performances in the above countries are resulted from authoritarian state regimes. The centralized power structure enables authoritarian government to achieve suppression of consumption, technocratic rationality, mass mobilization, insulation from different socio-political pressures that would lead to inconsistent policies, and the building of developmental ideologies which emphasize diligence and sacrificing for the country. All of these are necessary conditions for early stages of economic and industrial development. Referring to authoritarian countries that have achieved “economic miracles”, people argued that Asian countries, due to their unique cultural roots, tend to better adapt one-party rule and preservation of social harmony , hence would develop its economy more effectively under authoritarian
Capitalism is normally characterized by struggle between producers. Other facets, such as the contribution of government in production and ruling, vary across models of capitalism. Advantages a. Economic liberty helps political autonomy. If governments own the means of manufacture and set prices, it perpetually leads to a powerful state and creates a large administration which may extend into other areas of life.
In addition, one of the most representative example of illustrating this ideology is the popularization of entrepreneurial budgeting. Entrepreneurial budgeting empowers citizens and uses decentralized authority. It provides departments with more freedom to decide the budget and achieve the goals. The second major American ideology is capitalism. Under capitalism, people tends to limit the role of government and give play to the free market effect.
As privatization and commodification has become the norm, public utilities and institutions have been at the forefront of neoliberal rationale. This has transferred what was once essentially public to the private realms of class and privilege, furthermore cementing market values into the society. In creating a society of rational subjects, neoliberalism succeeds in its economic endeavors of privatization and commodification. With the support of a calculating society and the hardship of the less privileged, it extends beyond the economic to influence decision making across institutions and social entities. Brown’s assertion that neoliberalism is not a set of simple economic policies is well supported in her account of the neoliberal rationale.
Imperialism emerged as a development and direct continuation of the fundamental characteristics of capitalism in general. But capitalism only became capitalist imperialism when its development reached a very high degree, when some of the fundamental features of capitalism began to become their opposite, when they took shape and revealed the characteristics of the transition period of capitalism to a higher economic and social system. From an economic perspective, the essence of this process is the substitution of free capitalist competition for the capitalist monopoly. Free competition is the fundamental feature of capitalism and of commodity production in general; Monopoly is exactly the opposite of free competition. Imperialism contains five basic features: the concentration of production and capital has reached such a high point of development, which has created monopolies, decisive in economic life; the merger of banking capital with industrial capital and the formation, on the basis of this "financial capital", of the financial oligarchy; the export of
America is a culture of ideology and one of our society’s core beliefs is the American Dream. The American Dream is a concept that describes how opportunity awaits even the poorest of us who are willing to work hard and apply ourselves. One of the cornerstones of the American Dream is capitalism, but what if this very idea that America holds sacred has become a lie and capitalism has turned that dream into a nightmare? What if capitalism is responsible for ensuring that poorest members of society, no matter how hard they work or how much they apply themselves will never move up the financial ladder? The American Dream assumes a level playing field, but capitalism has stacked the deck in favor of the privileged few and the competition’s head start is a few yards short of the finish line.
Quoting an unknown source, Fredric Jameson once exclaimed that “it has become easier to imagine the end of the world than the end of capitalism” (“Future City” n.pag). Mark Fischer in his book titled Capitalist Realism: Is There No Alternative builds on this notion and says that there is a “widespread sense that not only is capitalism the only viable and political economic system, but also that it is impossible to even imagine a coherent alternative to it” (8). What makes capitalism such an overwhelming, undefeatable force? How can one explain the pervasive presence of capitalism in each and every sphere of our lives? And finally, how does capitalism pre-empt any act of resistance or critique thereby reproducing itself endlessly?
Adam Smith, the “father of modern economics” and a moral philosopher, focuses much on personal ethics and human morality in an economic system. Smith introduces self-interest as the great motivator in an economic activity which cultivates a competitive free market economy. When individuals are in the process of providing their own self-interest, it can
“Capitalism affords economic freedom, consumer choice, and economic growth. Socialism, which is an economy controlled by the state and planned by a central planning authority, provides for a greater social welfare and decreases business fluctuations.” - Here is what the ideas of capitalism and socialism are are trying to convey, Capitalism affords economic freedom and economic freedom, but socialism is an economy controlled by the state and planned by a central planning authority, provides for a greater social welfare and decreases business opportunities.” Consumer choice - Individuals choose what to consume, and this choice leads to more competition and better products and services.” - An advantage to capitalism is that since individuals decide what to buy, there is more competition, so better products and services. “The means of production are owned by public enterprises or cooperatives (the state), and individuals are compensated based on the principle of individual contribution.” - In socialism, companies are owned publicly by the state and individuals are paid based on the fact that they
Adorno and Horkheimer elucidated the cultural industry in the capitalist society as a condition of enlightenment that has taken over the social life of human by rationality. (Horkheimer, Max, and Theodor W. Adorno, 1972) The concept of cultural industry is a main aspect of late capitalism in which it markets the production of culture that is in opposition to “authentic culture”. (Horkheimer, Max, and Theodor W. Adorno, 1972) Unlike the “authentic culture” which is not goal-oriented, culture industry is subjected to economic success and profit maximization (also, the main focus of capitalism). Cultural products are created to appease the capitalistic mass consumers’ increasing demands for entertainment. Adorno and Horkeimer posit that the phenomenon of the mass-produced culture in cultural industry serves as a purpose to ensure the continued passivity and obedience of the capitalist mass consumers.
Within the United States especially, capitalist ideology steers societal progression, and at the core of capitalist ideology lies self-interest. At the micro and macro level, self-interest correlates to prosperity. In The Wealth of Nations, Adam Smith defends free markets