Slow Knowledge

criticism of capitalism

Capitalism is defined as an economic system in which a country’s trade, industry, and profits are controlled by private companies, instead of by the people whose time and labor powers those companies. Criticism of capitalism ranges from expressing disagreement with the general principles of capitalism in its entirety to expressing disagreement with its particular outcomes. In the foreground of critiques concerning capitalism are accusations that it is inherently exploitative, that it creates economic inequality: critics argue that capitalism is associated with the unfair distribution of wealth and power. 

One of the claims of the criticism of capitalism is that it is anti-democratic and a serious threat for human rights and that it incentivizes imperialist expansion and war. Free markets are supposed to strengthen free societies. Instead, todaypumped-up global economy is eroding the power of the people in democracies around the globe.