Capitalism - An Evolutionary Process

Paper Summary:

This paper takes a look at capitalism as an evolutionary process. While acknowledging that the current economic system in Canada is one of capitalism right now, the author explains how this system, faced with failings such as homelessness, environmental degradation and bureaucratic minutiae will continue to evolve into a economy that is less profit driven. By describing the economic evolution process, the paper explains how the industrial revolution evolved into materialism and into a culture of excess consumption. The paper also stresses that even as human needs and wants have changed over history. Humanity still retains many fundamental values and that money will not be enough if pollution and living conditions are deplorable.

From the Paper:

"I believe it is possible for us to live wisely, agreeably and well in a society of abundance. The "free-market" capitalist system we live under is suffering growing pains, but overall is relatively nascent. Evolution is a series of processes by which an organism learns and adapts. This adaptation never ceases, instead it goes through stages of growth and turmoil, interspersed with stages of stability. The current economic system has yet to reach a stage of stability, in large part because it is so new, being roughly a century and a half in the making. The evolutionary process is one of experimentation - when faced with a problem, numerous solutions are tried with only the successful ones failing. At the current stage its life, capitalism is still faced with many failures but over time, those concepts unable to sustain the system will fall by the wayside."

Sample of Sources Used:

• Saul, John Ralston. (2000). LaFontane-Baldwin Symposium, Inaugural Lecture. Speech online. Accessed April 3, 2008 at http://www.operation-dialogue.com/lafontaine-baldwin/e/2000_speech.html
• Saul, John Ralston.(2005). The Collapse of Globalism and the Re-Invention of the World. Toronto: Penguin Canada.
• Saul, John Ralston (1995). The Unconscious Civilian. Toronto: Anansi, Massey College.
• Sahtouris, Elisabet. Globalization as a Natural Evolutionary Process. Retrieved April 5, 2008 from http://www.pcdf.org/Living_Economies/Supporting_Essays/globalization.htm
• Potts, Jason. (2002). Evolutionary Economics: Foundation of Liberal Economic Philosophy. Policy. Retrieved April 6, 2008 from http://www.pcdf.org/Living_Economies/Supporting_Essays/globalization.htm

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