It seems that in the United States of America Capitalism streams with grace. For me capitalism seems to be the best way for an economy to grow. Some may say, capitalism is unfair in terms of competition and giving the best possible price to the consumer. Or that capitalism creates classes where “the rich get richer and the poor get poorer”. I’m no doctor of the economy, or a spokesperson for all of America, but I feel that company’s can be more profitable both in an economic and a personal standpoint by running a business based on capitalism. .
Looking at the predicament with competition, from most of my experiences at this stage of life for me, competition has done great things in terms of making products cheaper for me. For example, the computer hardware business, I built a computer one year ago using an Intel Pentium II 300mhz processor. I paid $520 for the motherboard and processor. Since AMD (a competitor of Intel) came out with the AMD K-6-2 processor, Intel’s prices have dropped considerably. As a matter of fact, I was on the Internet just yesterday and saw that I could by an Intel Pentium II 333mhz processor and a motherboard for just $335. It’s just too bad that I couldn’t say the same for Microsoft’s prices. But that topic alone could spawn a novel. I think that of late, many Americans have less faith in their government than they did 50 years ago. And having the government control the country’s industry would create all kinds of dilemmas. .
I was thinking about the statement “the rich get richer and the poor get poorer” and also about capitalism creating economic classes among society. Again, I’m not a economics major, so the next few statements are going to be based on my assumption that - the difference between say, a doctors salary and a janitors salary in a capitalist economy would be much more significant than in a socialist economy.