User:Average/Capitalism

It's good to know the vices and virtues of capitalism, as it remains a powerful influence in socio-political spheres.

Virtues:

• Individual incentives to differentiate oneself,
• competitive markets to find the "perfect price" where supply cross demand,

It should be noted that American capitalism has resulted in the intense specialization that we see now. Duplicating this through other means would be nearly impossible. Computers being the shining example, here.

Vices:

• If initial inputs are not sourced by the ideals of capitalism (not ideals: land acquired through conquest, or oil acquired by sheer luck), it fails to allocate resources fairly
• If no one in power manages the ideals, the tendency is for capitalism to devolve towards the lowest common denominator: Chrematistics -- make as much money as fast as you can.

See also Collectivism.