1st Essay Sample on Capitalism
Capitalism is can be simply defined as an economic system, marked by open competition in a free market, in which the means of production and distribution are privately or corporately owned and development is proportionate to increasing accumulation and reinvestment of profits.However, capitalism tends to incorporate a certain “way of thinking”, driven by greed, the search for ever-increasing profits, worldwide expansion, and internal development.Starting from the earliest origins of capitalism, only societies with the capabilities and the appropriate mindset could flourish amidst this period of economic, social, and religious dispersion. The earliest form of capitalism is seen in feudalism, the political and economic system based on the relation of lord to vassal held on conditions of homage and service.Feudalism was characterized by a surplus of agriculture and monopolistic rights, as only the members of town guilds could practice certain trades.Essentially, monopolistic redistribution of the product of society has been the essence of capitalism from the beginning, which originated from Feudalism. The earliest establishment of capitalism originated in Rome through mercantilism.Mercantilism involves the distribution of goods in order to realize a profit, which is the fundamental goal of capitalism.Goods were bought at one site for a certain price and then moved to another site and sold at a higher price.As the Roman Empire expanded, mercantilism correspondingly expanded.But the fall of the Roman Empire caused European economies do eventually lose its focus of mercantilism and localize their economies.However, these mercantilist ideas gradually evolved into capitalism in the era after the fall of Rome.The absence of empires created the social space for capitalism.Capitalism was similar to mercantilism in its large-scale search for profit by acquiring goods at lower prices than one sells them.
2nd Essay Sample on Capitalism
Geographical proximity has facilitated capital flows, as north east Asian manufacturers of labor intensive exports moved their factories south to take advantage of the skilled labor which helped a lot Indonesia, Malaysia and Thailand. From policy view point these linkages have been encouraged by the generally liberal treatment of foreign investment. But even where foreign investment policies have been restrictive, informal credit and information networks have helped investors to move capital relatively freely. 1- Policy imitation specifically of Japan’s industrial strategy. This was an explicit objective in Korea and Malaysia.
(regional linkages facilitated the adoption of imitative strategies in both public and private sector activity. 2- Korea borrowed Japanese techniques for building large trading companies and directing the structure of industry. Through their earlier trade with Japan, western importers had become familiar with Asian business. As a consequence gained respect for East Asian quality. Later US imposed quantitative restrictions on Japanese products were producers from Korea, Taiwan and China took advantage to establish lucrative positions.
Of course regional characteristics alone cannot count for East Asia’s success. If geography, history and culture were an adequate explanation other economies would have little to learn from them. In which the market takes the centre stage in economic life and government play a minor role.