Advantages and Disadvantages of Capitalism

[Joshua Farrell]

Capitalism is the main system of economic interaction in the world today. What are its advantages and disadvantages?

 

[Tochi]

Capitalism has been reason why some countries are impoverished and others developed from such economy. In capitalism the means of production and distribution of goods are in the hands of private individuals, hence everyone seeks to multiply their profits regardless of other people income. It has helped many countries to develop on their own, such as U.S.A as the ideology is better practiced. However, in countries like Nigeria, people are suffering from capitalism, where the rich only get to be richer and the poor become poorer.

 

[Setho]

When very notable disadvantage of capitalism is that there can never be even distribution of wealth and it also make a lot of people to lose their humanity and dignity.

 

[Ghost1]

Capitalism has been reason why some countries are impoverished and others developed from such economy. In capitalism the means of production and distribution of goods are in the hands of private individuals, hence everyone seeks to multiply their profits regardless of other people income. It has helped many countries to develop on their own, such as U.S.A as the ideology is better practiced. However, in countries like Nigeria, people are suffering from capitalism, where the rich only get to be richer and the poor become poorer.

You are right this is a common problem in Nigeria. The rich simply because he's rich and has people in power instigate them to make policies that favours only him. Would love to name instances but it's best not to

 

[kayode10]

Capitalism is the main system of economic interaction in the world today. What are its advantages and disadvantages?

one of the disadvantages of capitalism is that it creates a wide gap between the rich and the poor. You figure out the middle class if you watch it closely. it is easier to become rich with the help of capitalist system.

 

[nimzy]

It depends on how individuals see it but to me capitalism has more disadvantage than it advantages to me capitalism is more of profit oriented than for the benefit of the masses. it does not considered the societal income but it profit which it can make out of the society.

 

[Kubiat-Abasi]

The disadvantages of capitalism outweighs its advantages. Capitalism doesn't not work in favour of the common man only the elite group. Infact, it saps out the little from the common man.

 

[tyrim88]

One thing that the system of capitalism brings out is the issue of inequlity,the rich will always get to be richer in this system structure.this was what made the old soviet union to collapse.

 

[Bousine123]

In a capitalist economy there is room for people to earn a lot more than their mates, and also live a more comfortable life.

Generally, I'll consider a Capitalist economy as an economy for the smart ones. For me it's not disadvantagous.

 

[Blessedsam60]

Capitalism is never a good idea for once, it will also hinder so many things in a national. Take for example, unequal distribution of wealth will result into poverty and lack.

 

[eLdavis]

The advantage of capitalism is that it gives private owners no limit as to how much wealth they can own for themselves, no one controls what they can get, but the major disadvantage is that this wealth is not being circulated

 

[Shigobad20201]

When very notable disadvantage of capitalism is that there can never be even distribution of wealth and it also make a lot of people to lose their humanity and dignity.

Wealth can never a proper distribution of wealth in African and thats why we are being govern by the same set of people and family for decade while they rotate the tussle of power between each family and clan , and that's the main reason why poverty has stricken deep between the masses .

 

[Setho]

I will set it that the notable disadvantage of capitalism is a fact that the distribution of the wealth mostly goes to a very small percentage leaving the rest to be very poor.

 

[Ceeny007]

One of the greatest disadvantage of capitalism is that it breeds corruption and unnecessary competition, but it ensures greater capital accumulation

 

[Bright7777]

Capitalism is an economic system were economic powers rest on the private sector. Advantages of capitalism includes creation of wealth for those who take the risks of entrepreneurship but the disadvantages includes improper wealth distribution in the economic were rich get richer and the poor becomes poorer.

 

[Trexxxy]

I think the disadvantage of capitalism is that a certain set of people can benefit from the system, while a lot of people remain impoverished and have to work hard to earn a living.

 

[Mfoniso Nyah]

Capitalism is very bad, because it's a government that only benefits the rich and not the poor.
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And it's what brings corruption and economic difficulty to a country.

 

[jay]

One of the most interesting things about capitalism is the increase in productivity and profit making using the economic system while it's disadvantages is over working the variables in the system.

 

[Ellamma]

In my country Nigeria, capitalism doesn't really favour everyone. It favours only the rich thereby they keep getting richer while the poor masses die in poverty. It doesn't make sense

 

[kayode10]

Extreme poverty can occur in a place where capitalism dominates the economy. Capitalism gives opportunity to create a wider gap between the rich and the poor and eliminate the middle class. On the other hand, capitalism makes it easy for an individual to achieve financial freedom.