An economic and political system in which a nation's companies are controlled by the super rich rather than the people. Capitalism can be beneficial for producers to innovate in creating new products. Also, consumers can pursue higher-paying jobs to earn more cash to buy more expensive products that they desire the most. Nonetheless, some capitalist countries, such as the USA, Russia, China, Venezuela, and Japan, are being detrimental in the way that they are inflating prices or taxes of products that leads to the downsides of capitalism. Examples are the lack of a Universal Healthcare, below-average minimum wage, micro-transactions in video games, the Student Debt Crisis, increased world hunger, and imperialism in foreign countries to steal resources and to boost economic jobs. Furthermore, if you are born poor at the bottom of the hierarchy, then you are most likely to stay there, unless you get lucky by winning a slot machine at a casino or winning a lottery to get out of the poverty line. To an extreme, capitalism is enslaving workers to their graves in factories without them having enough spare time to be with their family members, but it will ultimately crumble.
As the income gap continues to widen, the rich gets richer and the poor gets poorer. In other words, more poor people will suffer and die under capitalism. Capitalism needs to be heavily replaced by democratic socialism to allow poor workers to share and to control the means of production equally, as well as stealing millions or billions of dollars from the super wealthy businessmen to distribute equally among themselves. Therefore, the 1% super wealthy businessmen will no longer be abusive to poor workers' rights and will no longer continue to sit on their lazy asses doing absolutely nothing to contribute to society.
by TheUnknown21 February 19, 2020