Criticisms of Capitalism

Criticisms of Capitalism

Criticism of capitalism ranges from expressing disagreement with the principles of capitalism, to expressing disagreement with particular outcomes of capitalism. Amongst those who wish to replace capitalism with a different method of production and social organization, a distinct difference can be made between those that believe that capitalism can only be overcome through revolution and those believing that structural change can come slowly through political reforms. Some critics believe there are advantages in capitalism, and wish to balance it with some form of social control, typically through government regulation.
Democracy and political and economic freedom
Economist Branko Horvat stated: "it is now well known that capitalist development leads to the concentration of capital, employment and power. It is somewhat less known that it leads to the almost complete destruction of economic freedom." Activists argue that capitalism leads to a significant loss of political, democratic and economic power for the vast majority of the global human population, because they believe capitalism creates very large concentrations of money and property at the hands of a relatively small minority of the global human population leading to very large, and increasing, wealth and income inequalities. Corporate capitalism and inverted totalitarianism are terms used by the activists and critics of capitalism to describe a capitalist marketplace and society characterized by the dominance of hierarchical, bureaucratic, large corporations, which are legally required to pursue profit without concern for the social welfare. Corporate capitalism has been criticized for the amount of power and influence corporations and large business interest groups have over government policy, including the policies of regulatory agencies and influencing political campaigns. Many social scientists have criticized corporations for failing to act in the interests of the