That's Extortion...So you call it, i call it Capitalism

Hey Bloggers, our Blog for this week is on Capitalism, it's pros and cons. Well why don't we start by defining what that is. Capitalism is the organisation of society in a way that the both the wealth and means of production are privately owned by capitalists (business owners etc), where products and assets are produced for profit. In capitalism, according to Weber, the workers are free to sell their labor for profit. Marx however believed that in Capitalism, the proletariat are exploited by the bourgeoisie, and makes profits off of them.

The greatest benefit of Capitalism is that it Promotes economic growth, because of competition in the open markets (wall street/stock market). Individuals have more business options. It allows for little guys (working class) to move up in social rankings, or get promotions. It basically makes upward mobility easier. in a capitalist economy that hard work is rewarded. Another benefit is that consumers get the highest quality of products for the cheapest prices. The reason being is that because of the competition of the open markets, business owners have to be smart about their prices, if they want people to buy their products.

The greatest benefit of capitalism is also its greatest drawback, Competition doesn't always bring out the best in people. Some may take it to far, and use "questionable" tactics when dealing with opponents.

GlObAliZaTiOn - 全球化

     Hey bloggers, today i'll be talking about a little thing called Globalization (btw the title is half chinese). Globalization is the theory that the development of social, cultural, and economic relationships on a world scale has created a single social order. Globalization comes with many different pros and cons. Some people believe that globaliztion is the growing mdominance of western forms of political, economic,and cultural life, and the proliferation of new information technologies.
     To some people, globalization means the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the "tapping of cheaper foreign labor markets."
     The general complaint about globalization is that it has made the rich richer while making the poor/broke poorer. It is wonderful for investors, but hell on workers.Multinational corporations are accused of social injustice, unfair working conditions, including slave labor wages and poor living and working conditions, as well as a lack of concern for the environment, mismanagement of natural resources, and ecological damage. So basically globalization makes it easier for rich companies to act with less accountability. They also claim that countries’ individual cultures are becoming overpowered by Americanization.
     However Globalization isn't all bad, it has the potential to solve problems like unemployment and poverty. Now there is a worldwide market for companies and consumers to access products from different countries. There is cultural intermingling. Each country is learning more about other cultures, which can also be used as an argument to the belief that globvalization is destroying individual cultures