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  • Essay / Capitalism: an unusual perspective on a harsh reality

    Many people believe that capitalism has had a positive impact on the world, making it a better place to live. Bill Gates, the founder of Microsoft, in his article, “Making Capitalism More Creative” supports this belief. It highlights how capitalism has transformed this world and how it would improve life in the future. Gates also emphasizes how governments and different businesses can bring new people into the capitalist system to reduce economic disparities. However, capitalism is not as beneficial as Gates claims. It has a dark side when it comes to economic inequality, government involvement, new markets and social responsibility. Capitalism, as a system, is destined to increase economic disparities. Bill Gates claims that this system would make enormous progress in reducing the gap between rich and poor (1). However, capitalism would lead to disparities not only within a country but also between different countries. A free market would ensure inequality increases because working class wages never increase in proportion to economic growth. This is happening because of “inflation, rapid economic growth, the decline of union power and influence, and the dollar exchange rate” (Thompson). The owners of the businesses always get profits while the workers get very little for the work they put into producing the products (Hanks). In terms of disparity between countries, capitalism, while offering free trade, emphasizes the need for specialization. This specialization widens the gap between the first world and the third world. The third world is made up of countries specializing in primary industry while the first world focuses on secondary industry. The second...... middle of paper......5. Internet. .Gates, Bill. “Making capitalism more creative.” TIME July 31, 2008: 1-3. TIME. Internet. .Hanks, Craig D. “Social Markers.” Social benchmarks. May 2009. the web. .Millies, Stephen. “How United Fruit Robbed and Killed the People of Central America.” World of Workers. October 3, 1996. The web. .Smith, SE “What is predatory pricing?” » Internet. .Spaulding, William C. "Predatory Pricing - Microsoft's Modus Operandi." Internet. .Thompson, Michael J. “Resurrection of Capitalism”. Web. .