Capitalism in Today's World

Paper Summary:

Despite the obvious advantages of capitalism-increased production and availability of products-it tends to increase the gap, actual and proportional, between the upper and lower classes. This fact is true not only within countries with capitalist economies, but between nations with capitalist economies and developing nations. This paper shows that the global and social division of wealth, despite the new world economy, has continued to draw a sharper and deeper contrast between the rich and the poor of the world.

From the Paper:

"Largely, the global distribution of wealth has been determined in the past fifty years by those nations who have opened their doors to the western economy and those who have not. Obviously, the first stage of economic development is industrialization. The industrial revolution began in the United States almost a century ago, and has yet to reach many nations of the world. Unfortunately, many of the problems that faced the American workforce a hundred years ago face the workforce of these third and fourth world nations today. Lack of unions and labor laws make these workforces weak, and therefore, attractive to multinational corporations. The difference in today's market, however, is that the means by which American workers improved wages and conditions will simply not work in the global economy: companies do not depend on their workers in the same way; they can always move production elsewhere in the event of a strike."

More papers on Capitalism in Today's World:

• Analytical Essay # 139141 : "21st Century World Economy"
• Comparison Essay # 15908 : "Globalization and the Third World"
• Persuasive Essay # 137105 : "Can We Be Marxist Today?"

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