The private sector will maintain capitalism in the U.S. and the government will continue "encourage" and subsidize businesses to boost the economy. Consumers will always be the backbone.
Having said that every country's government has and will maintain some social programs to aid it's poor and elderly. Governments aren't out to earn a profit. Their primary goal is to be able to pay for their programs, the nation's infrastructure, and military. The stock market isn't going away anytime soon. World economies rely on each other.
Entrepreneurship will continue to be alive and well. Billionaires/ millionaires are getting younger with each new generation.
The 21st century will be the century of the "adaption economy". The heavy industrial and manufacturing age has passed. Most of those jobs have been outsourced to developing countries. The "information age" and high tech driven business are leading the way in the major developed countries. People who refuse or resist adapting to changes in the world economy will be left behind and feeling bitter.
The 21st century will be the century of capitalism. Capitalism is what fuels the economy, create jobs, and a higher qualitative standard of living. Capitalism is what fuels entreneurship to create new avenues of doing things which in turn advances the economy.
Without capitalism, the economy as we know would not advance and would remain stagnant. Capitalism is the best economic system there is, particularly in the United States, Canada, and Britain. I would add to like that capitalism in the 21st century will advance and evolve to include more and more technology. An advanced level of technology expertise is needed to thrive in a 21st century capitalistic society. Those who major in computers, technology, and related technological systems will be highly successful in the 21st century. The idea of thriving in 21st century society is to be highly savvy regarding technology and to be highly adaptative to changes. Those who are not technologically savvy will be the new poor and new underclass.
No. Not the form of capitalism that puts shareholder value and short term profits as their focus of attention. That i think is not sustainable.
Global Capitalism is arguably just another name for diplomatic colonialism, whereby the bigger and more aggressive countries get to have their brand name all over the streets of el mundo, providing jobs for the locals but sucking huge profits back into corporate HQ accounts. Sometimes these capitalist giants can even negotiate tax breaks from governments eager to keep their economies stable (take the UK with regards to Google and Amazon for example). Tax avoidance is also available!
This is all well and good and perhaps just another form of exploitation we'll have to put up with for a few decades but what gets me is the role of the banks in all this race for pure profit at the expense of human values type of scenario. I mean, the banks seem to be ruthless, carefree and a bit 'casino like in their attitude to the stock markets and trading rates. In some cases the banks have been guilty of recklessness and simple cloak and dagger style business strategies. They've rigged rates of exchange. They get away with murder and no-one pays the price!
By having their goods and wares manufactured or at least put together or maybe even sourced in countries where labour is cheap and plentiful the capitalist economies will continue to prosper. These established 'old world giants' (USA, Germany, UK, France, Japan) however will have increasing competition from the likes of China, Brazil and India who are now playmakers on the global stage. Old worlders will have to adapt quicker and diversify, or join together with others a la Europe to form pacts and build allegiances. It's all very bewildering.
Thankfully still alive and just kicking are the smaller companies and businesses trying to be honest and hardworking and ethical whilst the corporate and larger private bodies, in some cases, do exactly the opposite! All we can hope for is deeper and more sane democracies to help keep the peace whilst capitalism works away at keeping most of us fed and healthy.
I don't much like capitalism as a concept because it breeds greed, arrogance and fear, and allows the fat cats to prosper but it'll do for now, until the next revolution!!
It's hard to know for sure what the future holds, but overall the world is embracing more a more the concept of open markets. The World Bank's data shows that global poverty has declined by about 80% since the early 70's as the once restricted markets around the world have begun to open up to free trade. On the contrary, nations that have long embraced open markets such as Europe and the US have become less competitive in many ways. This is somewhat expected as the more global competition there is, the harder it will be to take a leadership role. But one thing is certain, no system ever designed by man has lifted as many people from poverty as that of an economic system which embraces free trade, which is the essence of capitalism.
Ultimately, the aggregate of the masses control their own fate. If they embrace the centrally planned entitlement state, they will learn the same lessons that have been learned over and over again. Unsustainable fiscal policies, declining productivity and weakened purchasing power. If they embrace an economic system that engages largely in free and open markets, they accept the opportunity to succeed.
We live in a pluralistic society with a combination of socialism and capitalism, as many other societies. If conservatives win the house,senate,and the presidency in 2016, a lot of social programs will be eliminated for the next four years. And the cycle will repeat every four years. So Americans will always be in limbo
west has matured capitalism and no more scope for further up gradation
.The world is segregated in east-west, rich-poor,large-small , landlocked nations and island states and so many.
If globalization goes for useful interdependence then it will grow. Multi cultural situation and differences would be settled and wealth creation and distribution is a key factor .
Uni polar America has a role on the earth and their capitalism was engine to world economy. this engine is not firing all cylinders now and new engines China ,India are also driving world economy.
Poverty,illiteracy are companions and unless communities come out of
curse then world will remain divided in developed and underdeveloped.
Capitalism with human face, is it possible? if so welcome. CSR , corporate social responsibility is in force and improving life of people but only possible in democratic nations.
Freedom of speech is a gift and very few in the world enjoy it. Non-democratic nations and their people do not have this privilege.
21st century ,will be capitalism economy because so much changes has been happen last decade .During the social media war it has been given priority to making capital.Also by online service provider making money is easy. .
by ngureco 5 months ago
What Century Are We In Now? When Does A Century Starts And Ends?
by James 5 years ago
Do you think Asian economies are going to dominate the 21st century?Do you think the world economy in the 21st century is going to see an increasing dominance of Asian economies and a diminishing role of Western nations? Why would you say so?
by Grace Marguerite Williams 3 years ago
My mother said this 4 DECADES ago that in the 21st century, there is going to be either theexceedingly wealthy or the extreme poor with a small middle class. Do YOU agree with this premise? Why? Why not?
by Sophia Angelique 5 years ago
Here are some quotes from the article below:"“America is in danger, I think, of becoming something of a legal backwater,” Justice Michael Kirby of the High Court of Australia said in a 2001 interview. He said that he looked instead to India, South Africa and New Zealand.""In a...
by Credence2 13 months ago
After a rather protracted discussion with a nephew about the need to stop horsing around in regards to his economic future, I had a revelation or two.I was born before Sputnik, in an era of slide rules, vacuum tubes and nascent transistor technology, now I find multi-function calculators in my...
by Grace Marguerite Williams 3 years ago
What was your initial hope & wish for the 21st century? Do you believe that the 21st century will beFAR better than the 20th century or will it be MUCH worse? Why? Why not?
Copyright © 2018 HubPages Inc. and respective owners. Other product and company names shown may be trademarks of their respective owners. HubPages® is a registered Service Mark of HubPages, Inc. HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.
|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|