Success of Capitalism through Mass Media Essay Example | Topics and Well Written Essays - 3250 words

Success of Capitalism through Mass Media - Essay ExampleThe give voice capitalism appears to have its origin in long-distance trade in the past where ships went to different islands in search of pepper or spices, with the expectation that those making the movement of the goods would benefit from the scarcity of goods in mavin place and abundance in another place. Since the ships need to travel and there were cost to the goods and transporting same, revenues above costs or profits from the price of sold goods were expected in return (Fulcher, 2004). However, there are also risks in not being able to recover the cost due to other factors that may tote up into the picture (Fulcher, 2004).Capitalism may have evolved in magnitude from the old times but it is essentially referring to an economic order where there is private property ownership. It could be considered as a consequence of country because of the nature of political and economic rights given to individuals. Along with pri vate ownership, the grocery or the law of interpret and demand must be allowed to operate which entails assigning a price to each of the factors of production including land, labor, capital, and entrepreneurship (Slavin, 1996).The landmark capitalism is distinguished from fabianism where the means of production is owned by the state. In the capitalistic system, the market forces of supply and demand dictate what gets produced and how practically it gets produced. In communism, the government as planning agency dictates what gets produced and how much it gets produced (Slavin, 1996). Capitalism is also compared to socialism as an alternative economic order. Socialism is closely related to communism since both concepts entail massive government or state intervention in terms veritable degree of government planning instead allowing market forces to function freely (Slavin, 1996).