Running Head : CapitalismCapitalism[Name of Writer][Name of Institution]CapitalismIntroductionCapitalism has rapidly emerged as the leading sparing system since the collapse of the Union of Soviet Socialist Republics and easterly European Communist Bloc . This system is based on the premise that the manufacture , creation , and fabrication of goods and services atomic number 18 owned by private individuals or organizations . This is opposed to the gardening control of the economy which guides the industry , agriculture , trade and craft . A capitalist system is based on the dead reckoning that competition , privatization , and profit will bring prosperity and supremacy to the entire society . There are different forms of capitalist economy which advocate minimum or reduced closeness of the body politic in the econom y . The most general form of capitalism that is being advocated is the neo boastful stinting system which has been championed by the Western countries . The role of the state has been circumscribed to the provision of veritable services while it ensures that the market is correct with rule of truth . The record of capitalism has been mixed with supporters argumentation that it has led to increase economic standards of living . China , India and eastern hemisphere Asian countries are considered as having progressed because of their adaptation of capitalist economic practices . However critics suggest that capitalism has increase income disparities , poverty , drugs , crimes and destabilized topical anesthetic economies . They point to the examples of Latin America and Africa where the adoption of neo liberal economic systems turn out spread havoc and loony bin . This provides an...If you want to get a full essay, order it on our website: OrderCustomPaper.com
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