Essay, Research Paper: Improving Capitalism

Mankind is an inherently greedy and materialistic species. It is by natural instinct to hoard against future deficiency. Capitalism is based upon this principle which institutionalizes an appetite for money and power utilizing as little labor as possible. In this procedure, basic ethics are sacrificed at the cost of those people born into less fortunate circumstances. Merely because other systems have not succeeded, it does not mean society should not critically examine capitalism and seek out other viable alternatives. If anything, capitalism should be acknowledged for what it is—a predatory economic system based on greed and selfishness, rather than considered a flawless souvenir of American pride. If society by some means was to initiate a modified system providing equality and conditioning people to take only what is absolutely necessary, the world would undoubtedly be a better place in which to live. In order to achieve improvement, there should be an availability of employment for all members of society, all jobs should be capable of providing the essentials for living (food, housing, health-care, and education for entire family), the need for profit should not exceed the need for such things as maintenance of the environment or human advancement, and most importantly, compensation should be proportional with amount and type of work performed in a job.
According to Ayn Rand, “The moral justification of capitalism does not lie in the altruist claim that it represents the best way to achieve 'the common good;' The freedom that a rich man needs to maintain and add to his wealth, is the same freedom a poor man needs to create his wealth.” The main problem is not individual capitalists, but the system in which they operate. Capitalists benefiting from this system are likely to sugarcoat and often escape the true iniquity of the system, claiming that there are equal opportunities for everyone. This allegation may sound convincing and authentic until the issue is evaluated more carefully. Whether it is easy to admit it or not, this country has a more or less obscure class system dividing the rich and the poor determined by birth and circumstance rather than any other merit or qualification. To be direct, there must always exist a poor class to have a prosperous one. With a heap of luck, there is always the opportunity for a member of the low class to work hard and eventually join the other class and retire his savings comfortably. But when class is primarily determined by the class of one’s parents, it is quite a struggle and success rarely occurs. Every now and then, someone of a low class can climb into a higher class than his parents’, but this is becoming more difficult everyday. The competition for decent jobs becomes more challenging as they are given to less demanding foreigners abroad.
Many overlook the less obvious effects of capitalism. Capitalism is driven by profit, which is usually attained at any cost. For example, a simple case would be the light bulb. A light bulb has been invented that very rarely needs replaced, and it is no coincidence that the owner of that patent is also a manufacturer of light bulbs. It is very unlikely that this revolutionary product will ever make it to the market, much like an electric car. Although these innovative products would advance mankind tremendously, there would be no profit in them; therefore, their existence is worthless. This is a very negative human aspect of capitalistic profit, yet there are other victims suffering as well,
such as the environment. According to an article named “Strengths and Flaws of Capitalism,” “There is a greater supply of post-consumer paper than there is demand for slightly more expensive recycled paper. So, instead of doing what is ecologically prudent, we continue to ravage our forests and send our post-consumer resources to the landfill to take up room that could be use for true wastes.”
As stated by Robert B. Reich in “Why the Rich are Getting Richer and the Poor Poorer,” “The American Economy now exhibits a wider gap between rich and poor than it has at any other time since World War II.” The reason is partially due to the competition of U.S. citizens with workers from developing countries who are willing to work for very little pay. The culprit is capitalistic economy. There is nothing wrong with being economically compensated for hard work or service. The problem is that very few of the top fifth of wealthy Americans honestly earned their money. People sitting around producing nothing of value yet becoming richer is not the motive behind rewarding for labor and innovation. No one should ever earn in a day what it takes another person’s lifetime to gain. People deserve more from a full-time job than simply the requirements for survival.
Capitalism has never been good for the majority of humanity, and to recover its virtue, the current condition of jobs, profit, and earnings should be fine-tuned. Prosperity has been bought by depleting natural resources and exploiting people particularly from developing nations. When living in a country knowing that masses are afflicted with poverty and starvation, such a situation should enrage any caring person enough to revolt. Any system which promotes the combination of greed and deceit is immoral and should not be so eagerly worshipped.


Word Count: 884