- 16 August 2020
- Posted by: Shrex Learning
- Category: Updates
We all have heard the term “Capitalism” many times in our lives. Some of you might have read it in your school textbooks, and some of you might have heard about it in your online courses which are trending nowadays, but only a few of us know the real meaning of capitalism. Your standard google definition will not tell you what real capitalism is. Real Capitalism is exploiting people and capturing small businesses, all for one goal, PROFIT.
Now some of you might think that you know what I’ve written above and yes, well done on knowing the tip of the iceberg. Well, what you think you know about capitalism is not even 10 percent of it. You may think of it as just another economic system, but it isn’t. You and I, in our daily lives, get trapped in the web of Capitalism.
Capitalism has the worst effect on the poor. Businesses monopolize their markets and thus, we are robbed, daily. Small firms struggle to operate and are usually bought off by the giants in the market. It causes the gap between the rich and the poor to widen and the inequality among people increases. The employees of a firm usually suffer as well, as they are underpaid due to monopolies but have to work despite all the suffering to feed their families.
Well, we know what you are thinking. Is this a blog on the negative effects on Capitalism? No. There are two sides to each coin and similarly, there are positive aspects as well. If it wasn’t for Capitalism, the level of development the human race has reached until now would have been a long way away. Innovation is given a boost as all firms are in a cut-throat race to make their product or service unique, which will give them profits. Also, it prevents the government from making small decisions, which is helpful for both entrepreneurs and the government.
Now most of you’ll be reading this in India, and yes, I know that we are not a Capitalist nation yet, but that day isn’t far away when we are a Capitalist country and the GIANTS of various industries start dominating the markets. We have started seeing the effects of it now, and the COVID-19 Pandemic might have just acted as a catalyst to the rise of Capitalism in our nation.
“Capitalism is the astounding belief that the wickedest of men will do the wickedest of things for the greatest good of everyone.”John Keynes
Well, We couldn’t agree with this anymore. Let us know your thoughts on this subject in the comments section below. And if you would like to know more about economics, then head out to the Courses of Shrex Learning to find some of the best online courses you’ll find on the internet!