Capitalism Individualism and Government Essay - 1130 Words

By definition, Capitalism is an economic system controlled chiefly by individuals and private companies instead of by the government. In this system, individuals and companies own and direct most of the resources used to produce goods and services, including land and other natural resources labor, and capital. Capital includes factories and equipment and sometimes the money used in businesses (Friedman, 5). Capitalism stresses private economic decisions. People are free to decide how they will earn and spend their income. Companies may choose which goods and services to produce and how much to charge for them. They also compete with one another to sell products. Nations whose economies are based on capitalism include the United†¦show more content†¦One reason why people do not necessarily feel obligated to help others less fortunate than him or herself is because the economy focuses on individualism, which leads to greed and hoarding. Another reason why capitalism is a social justice issue is that it deprives certain people of their human rights as well as the dignity and respect that all humans deserve. As a result, we can ask ourselves, are we truly free? On Independence Day we commemorate the birth of America as a free nation. But even more than that, we commemorate the birth of Americans as free men. At a single stroke, the Declaration of Independence and its ideas set America free from England, and set Americans free from their own government. The Founding Fathers instituted Americas government to protect the freedom of its citizens, and to secure their rights to Life, Liberty and the Pursuit of Happiness. These rights were created to secure freedom of thought and action for all Americans. Freedom of thought is the freedom of an individual to use his mind: to educate and inform himself; to make his own judgments; to reach his own conclusions; to set his decisions; to hold his beliefs; to choose the whole course of his life. Freedom of action is the freedom of an individual to act on his own judgment: to pursue his/her values; to strive for his/her goals; to work and to keep the product of his/her work; to associate and trade with others; to act for the attainmentShow MoreRelatedLiberalism, By Thomas Jefferson, John Locke, And Adam Smith1707 Words   |  7 Pagesthat play a major role in its function are equal rights, individualism, and capitalism. However, are these principles necessarily perfect? This raises the question, is individual liberty necessarily a positive notion as many Americans believe, or are there flaws in the system? 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Conservatism in the United States so often resembles classical liberalism because of the similarity in the beliefs of government restrictions and regulations. Before explaining how classical liberalism resembles modern day conservatism, it is important to understand the basis for both ideologies. Conservatism is a difficult ideology to define because the notion of conserving