Twenty-First Century Capitalism
In the modern world the countries with the good economic system, are the ones recognized as rich as the USA, whose economy has been stable. Capitalism is characterized by two realms that are the political and the economic real. The paper is addressing modern capitalism as explained by Heilbroner. He talks about its positive aspects and negative as well. But his ideology is to study the current status of capitalism in the world and help predict the future. He talks about 5 level of the revolution that have led into people assuming a sedentary lifestyle to people having the total luxury. From all the levels, there is an improvement of products and services people receive from the competitive market. In a capitalistic nation, each person has an equal opportunity to achieve their goals and express their ideas without fear, as they get support from the government. Ultimately a capitalistic nation has to be based on democracy to succeed.
The world is dominated by systems of economies called capitalism. These systems are formed as a result of political and social activities. In capitalism, two entities are involved, and this include the political system and her economic system. The economic system includes an element like the production of goods and services, distribution of finished goods and the free market where the finished goods are presented. Heilbroner in his writings is not…
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