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Economic Globlization Essay

1309 words - 6 pages

Capitalism and Economic Globalization

In a perfect world there would be no hunger, no poverty, and no crime, but no such world will ever exist. There will always be suffering, hurt, anguish, and despair. Yet, shouldn’t we strive to provide a good future for all? This concept of the most amounts of good for the most amounts of people is call Utilitarianism. Contrary to popular belief, the United States doesn’t believe in such a state of being. Instead, through capitalism and economic globalization the United States has proven to believe in the exact opposite of utilitarianism.

The United States has always been based on the principles of capitalism; however, the present ...view middle of the document...

In Marx’s view these social structures depend on a base economy. To apply Marx idea, keep in mind the United States is a capitalist society. Moving on Marx argued that every economic system except socialism produces a force that eventually leads to a new economic form. For example, in a feudal system the market and factory emerged but were not capable of a feudal way of life. The market in return created a class based system in which feudalism was replaced by capitalism; and ownership was replaced by factories and the ownership of capital. Capitalism, Marx maintained, also carries its own self destruct button. “Capitalism will produce a class of oppressed people bent on destroying the system itself”. The first of the four flaws Marx saw in capitalism is the inevitability of monopolies, which eliminates competition and hurts consumers and workers. The second flaw is the lack of centralized planning, which results in overproduction of some goods and underproduction of other goods. This flaw encourages inflation, slumps, and depressions. The third flaw is that of a machine. The demand for hi-tech labor-saving machinery will always be around, and with this new technology comes unemployment and an unhappy workforce. Lastly, the fourth flaw related to the control of the state in which we are in by the wealthy. The effect of which is passage of laws favoring their class. The United Stated, being a capitalistic country is experiencing many of the flaws Marx predicted. This produces a totem pole effect, where the rich sit on top and the poor rest at the bottom. Comparing the current ethics of the United States it is found that society is running in a social darwinistic mode, meaning survival of the fittest. This form of ethics is closely related to John Beverley Robinson’s definition of Egoism, which is the realization by the individual that he is above all institutions and all formulas; “that they exist only so far as he chooses to make them his own by accepting them”.
In sync with Marx theory we can clearly distinguish that the United States chooses the same path and not that of the wise. John Stuart Mill once referred to the followers of Utilitarianism as “the wise”. Jeremy Bentham was his tutor that was well known for having created Utilitarianism. “Bentham’s mission in life was to reform law, government, and economics to make them serve the principle of utility, or the greatest happiness principle”. John Mill later wrote a book Utilitarianism after being the upholder for it’s theory and principles. He described it as the greatest happiness principle, is the ultimate principle of morality. So the way the United States is shaped we are far from that. The wealthy that are in power create a status quo in which no progress is made. The system is maintained by the ignorance of the lower classes and the wealth and power of the upper classes. In thus, we have the power elite creating a class system, creating racial and gender...

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