Capitalism

Capitalism is an economic system in which the main focus is increasing individual wealth. It requires a free market, open competition, a profit motive, and at some private ownership in the means of production. Their are many adbvantaages and disadvantatges to this economic system. However, I feel that the advantages outweigh the disadvantages. For one thing, capitalism provides valuable goods and services. It rewards hardworking people. It also creates a higher standard of living for all.

Capitalism allows people to have private businesses. These private businesses have the freedom to produce and provide whichever goods or services that they want. Quite often, these businesses focus on the one product or service. They become very good at providing and producing that good/service. They want to be the best in their field, because then more people will buy from them and they will make the most money. Making money is basically the point of capitalism.

Another benefit of capitalism is that those that are willing to work hard get rewarded. This happens because those that work hard and do the work required to create a good product produce the best goods. As a result of this, they make the most money. This is a good motivator because it teaches people to work hard; a value that is very important in life. Those that are willing to work hard to get something deserve it, and those that are not willing to work hard do not deserve it.

Capitalism creates a higher standard of living for many people. Having a high standard of living is a good thing because it usually means you have the means to and are able to live a good and comfortable life. Capitalism creates a large number of goods and services that are of a high quality. This allows the people to have more of a selection of goods and services. These goods and services benefit the lives of all the people who are able to attain them.

Capitalism has many aspects that are both good and bad. However, I believe that the good of capitalism outweighs the bad. It provides valuable goods and services. It rewards those that are willing to work hard, something that promotes hard work. It also creates a high standard of living. In my opinion, Capitalism is a good thing that can help a society to have better lives.