Why is capitalism the Ideal economic en
Table of Contents
Abstract #2
Economic Freedom #3
Economic Growth #4
Increased Compotition #5
Conclusion #6
Works Cited #7
Abstract
There has not been an economic system that has ever proved its value so strongly or has benefited men as significantly as capitalism, neither has anything been criticized as much in the economic system. Capitalism in business is often defined as an economic system where individuals own economic resources and the essential nature of capitalism is the pursuit of self-interest. This type of economic system is also known as a free market or laissez-faire economy. Because of private ownership, owners of businesses usually are more successful who believe in the capital environment that allows them to produce services of products and to keep the business profits for themselves. The purpose of this paper is to bring light on capitalism’s nature, including its philosophical base, ethical reasoning, and to provide clarification of why capitalism is the “Ideal” economic environment for business.
Creating an economy can be done in many ways. One model is socialism, another way and the ideal way is through capitalism, where businesses or people possess ideas or goods, and choosing how to price, manufacture and distribute those ideas and products in a market freely without interference from the government. Capitalism is a profitable structure that encourages private ownership. It’s a method that maximizes profits above investments through motivation. Freedom, growth and increased competition are three that support capitalism as being the “Ideal” economic environment for business.
Economic Freedom
In the “Excerpt from The Wealth of Nations,” Adam Smith claimed the significance of free enterprise from his beliefs; through self-interest and profit motivation would improve the market economy through functionality and productivity. The idea of self-interest would lead into a market of economic freedom and free
Abstract #2
Economic Freedom #3
Economic Growth #4
Increased Compotition #5
Conclusion #6
Works Cited #7
Abstract
There has not been an economic system that has ever proved its value so strongly or has benefited men as significantly as capitalism, neither has anything been criticized as much in the economic system. Capitalism in business is often defined as an economic system where individuals own economic resources and the essential nature of capitalism is the pursuit of self-interest. This type of economic system is also known as a free market or laissez-faire economy. Because of private ownership, owners of businesses usually are more successful who believe in the capital environment that allows them to produce services of products and to keep the business profits for themselves. The purpose of this paper is to bring light on capitalism’s nature, including its philosophical base, ethical reasoning, and to provide clarification of why capitalism is the “Ideal” economic environment for business.
Creating an economy can be done in many ways. One model is socialism, another way and the ideal way is through capitalism, where businesses or people possess ideas or goods, and choosing how to price, manufacture and distribute those ideas and products in a market freely without interference from the government. Capitalism is a profitable structure that encourages private ownership. It’s a method that maximizes profits above investments through motivation. Freedom, growth and increased competition are three that support capitalism as being the “Ideal” economic environment for business.
Economic Freedom
In the “Excerpt from The Wealth of Nations,” Adam Smith claimed the significance of free enterprise from his beliefs; through self-interest and profit motivation would improve the market economy through functionality and productivity. The idea of self-interest would lead into a market of economic freedom and free
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