- Capitalism = institutionalized system > started in Europe 16th century to the 19th century
- group of individuals and groups can act as a specific entity that can have a trade or private property
- free market where prices are determined by supply and demand, for the sake of making a profit > status protected by the state through ownership rights and obedience to laws of the state or to those who are bound by a contract
- source of wealth > money or material that we need to make a profit
- mode of production > capital and its various forms = major tool in the production
- economical activity which intended to the markets and endorsed in order to generate the earnings from the commuting market.
- economic system which manages the process of production and distribution of the goods and services.
To take note:
Capitalism brought perhaps bigger portions of the means of production
and material owned by the individual, who takes more than he really needs. This results in voracity and a figurative and literal bulimia.
Normally goods and services should be traded competitively in the free market but we notice that certain groups gain such power that they push out all competitors and get monopolies (often under the form of sub-companies, so that people do not notice it).
The owners of small capital
(smallholders) are just not able to compete against the owners of capital and big concerns or multinationals.
The writer says the advantage of capitalism is "Improved quality of goods", but we clearly can see, and in Europe it is proven that many companies lowered the quality of their products or the life-age, so that they can sell more. Quality has been left aside to gain quantity.
The writer of the article also finds it an advantage that "products are more varied", but today we have less variety of choice than 40 years ago. The companies press and present that what they want to sell and the consumer just has to follow. Today it is impossible to find in the shops the same maps as you used for your filing cabinet 2 or more years ago.
Today we can see enough proof how capitalism fooled the people and how much it brought failure to the creation. Animals and plants have become the greatest victims of human greed
and search for a capitalist world, where they can not share any more.
Unless we “embrace radical change ourselves" very soon we shall drown ourselves, taking many with us.
Perhaps more people would consider the words spoken by the new Pope Francis:
“If we destroy Creation, Creation will destroy us!”