To begin with you must define capitalism. It is the accumilation of capital. a person takes a risk with their own capital to try to make more capital, when they start to make capital they share that by hiring someone to work, so the capital is spread around over and over I.E, thru the payment of taxes and the spending of wages made by the employee. when more capital is made thru the profit margin then more employee's are hired and the system works . but if the beginner does not make money whether thru too high of prices for the goods or services being sold, then the original capitalist goes bankrupt and fails, Only to be able to try again, Thats what makes America great. I don't really think that there is a bad side to capitalism other than going bankrupt , but you have to try again.
@ Cleaner3, according to your deffinition the US is not a Capitalist country. The rich DON'T sptead their capilal. Greg
It is easy to go overboard in providing an answer to this question. I will do my best to keep it short and to the point.
Every economic system will have certain flaws. Some may be inherent, others could be related to how the system is applied and sustained over the course of decades and centuries. As such, capitalism, communism or any other economic system cannot be judged by how they function within certain time frames or within certain demographic confines.
Rather, they should be seen through their impact on the individual. In that context, the greatest pro for capitalism is that it has been the single most empowering force for the individual. In spite of the words often heard criticizing capitalism, I dare say that no words can ever be truthfully uttered that would convey a sound argument that feudalism, socialism or communism have ever come anywhere close to advancing individual virtue, thought and knowledge (and in turn, wealth) as much as capitalism has.
Consequently, if I had to choose to live with the flaws of capitalism over the best achievements of feudalism, socialism or communism, I would do so every time.
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