Capitalist Societies Economic Disparities

It is a fact that all capitalist societies have extreme economic disparities. The vast majority of a capitalistic country’s asset is usually under the control of a few wealthy individuals. In addition, the social and economic disparities of capitalism lead to inequalities in opportunities.Advertising We will write a custom essay sample on Capitalist Societies Economic Disparities specifically for you for only $16.05 $11/page Learn More A child born to wealthy parents will ultimately have more opportunities than a child born to poor parents. Lack of fairness in a capitalistic society is one of the major reasons that parties that oppose capitalism, use as a basis of their arguments. However, extreme defenders of capitalism claim that it does not lead to inequality. They claim that the main cause of inequality is government interference. Therefore, if the government leaves the market to regulate itself, there would be very low levels of inequalities. The argument of extreme defenders of capitalism is not convincing as the governments intervene to reduce inequality through wealth distribution. Moderate defenders of capitalism claim that lack of government intervention is the main factor that contributes to the high level of inequality in capitalist societies. Modification of the economic system through political action would lead to a significant reduction in inequality. The argument of these parties is valid, as government intervention has led to significant reduction of inequality and unemployment in various countries. On the other hand, certain defenders of capitalism claim that the benefits of capitalism outweigh its disadvantage due to inequality (Shaw and Barry 159). This argument is not convincing as an ideal economic system should improve the welfare of all people within the society. Capitalism views people as economic creatures. More people translate to a large market in a capitalistic society. Ideally, consumers should have knowledge of the diverse products in the market. They should use their knowledge to make informed buying decisions. However, today’s consumers face various difficulties in making informed choices. The large variety of products in the market necessitates consumers to possess a high level of literacy of the products. In addition, companies wield so much power. This enables the companies to influence the price and quality of various products, and create and shape markets.Advertising Looking for essay on ethics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Government’s intervention is not usually enough to curtail the powers of these companies. Therefore, consumers are at the mercy of the companies, who view them as a source of economic prosperity. Should the government and other agencies leave companies to act as they wish, companies may exploit consumers tremendously due to their immense power. However, government control only reduces level of exploitation. It is difficult for the government to eliminate exploitation of the consumers completely. Thus, capitalism reinforces the notions of individualism and materialism, which may disregard human morality (Shaw and Barry 160). People who defend capitalism claim that it has helped in improving the living standards of people. Capitalism has led to the production of various luxurious products that make people lead comfortable lives. Therefore, materialism improves the quality of lives of people. In addition, defenders of capitalism claim that companies do not wield so much power over the consumers. The government has the means of curtailing the powers of various companies. However, this argument is not convincing as in most cases, the government lacks the political will to curtail the powers of companies due to the economic benefits of industries to the country. In addition, the government may have vested interest in the companies. Works Cited Shaw, Willi am H. and Barry, Vincent. Moral issues in business, 12th edition. Wadsworth, CA: Cengage Learning, 2012. Print. This essay on Capitalist Societies Economic Disparities was written and submitted by user Marisol U. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Genetically Modified Crops Position Essay

Genetically Modified Crops Position Essay Genetically Modified (Gm) foods are genetically modified organisms (GMO) that have their genome altered through genetic engineering techniques. The plants have been produced by techniques in which "foreign" genes are inserted into the microorganism, plant, or animal. The foreign genes are inserted into the GMO for some beneficial effect, (increase crop yield, insect resistance, and added nutrition). Numerous arguments dealing with GM foods, but the main arguments deal with the benefits and the risks.The argument used by biotech companies is that genetically engineered crops could be the next green revolution. They argue that GMOS can help people with insecure food supplies, especially in developing countries. For example, a genetically modified rice crop that is resistant to flooding and that can withstand being submerged for 3 weeks (usually rice crop dies underwater after one week) would mean a more secure food supply for many Asian countries. Another problem that has been devastat ing banana trees is the fungus Black Sigatoka.Top: Lesser cornstalk borer larvae extensively dam...The fungus kills banana trees and the only way of treating the fungus is with heavy doses of fungicides that are losing ground against the fungus as it builds up more and more resistance. Genetically modified banana trees that are resistant might be the only way to save many of our favorite banana varieties in grocery stores and help protect food supplies in tropical countries. Another great benefit that has nothing to do with nutrition that involve GMOs are crops that are produced for chemicals that are used in drugs and pharmaceuticals that have benefits from being able to produce many different type chemicals as well as mass production potential (GMO Compass).So genetically engineering is fairly or I should say some what embraced in the U.S. Why is that? If anyone researches GMOs on mainstream sources your notice something...