-
Essay / The Power of Capitalism - 1493
Capitalism is defined as "an economic system characterized by private or corporate ownership of capital goods, by investments determined by private decision, and by prices, production and a distribution of goods that are determined primarily by competition in a free market” (Merriam-Webster Dictionary 2012). Capitalism is the main driving force of the United States of America. Thanks to the idea of capitalism, businesses thrive every day when they go to work. They try to earn as much as they can before the job ends and often try to make a profit in order to achieve their goals and get more income. Ultimately, businesses rely on the capitalist nature of the United States to sell their products and services in a competitive marketplace with little or no government interference. Many concepts link business, government and society. together. One concept would be capitalism. Businesses in the United States rely on capitalism, which allows them to access the free market and sell their goods and services. Although it is commonly believed that the United States government is based on the idea of capitalism, this is not the case. Capitalism simply emerged over the years, when the United States became the first country to give up most of its governmental power after the war with Great Britain. Today, capitalism is the engine of the United States economy. With little government interference in the free market, businesses were basically allowed to do whatever they could to make money. This means that many companies committed moral crimes that would later be described as federal crimes. The government then decided that it had to intervene so that companies were now abusing its freedom. Over the years, the government passed laws and policies that limited the power businesses had to control and balance the economy. The government began to limit the power of big business. However, time and time again, companies seem to find a loophole or other way to circumvent laws and policies to continue making a profit. Three concepts related to capitalism that connect business, government, and society would be: outsourcing of labor, hiring illegal immigrants, and changing game rankings. First of all, in the business world, a profit is made through the sale of a company's products and services. To produce these products and services, it costs money and labor..