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Capitalism - Influence of groups and the processes of groups social control

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The United States has been known as the model of a capitalist society. Discuss the values and beliefs that have led people in the United States to cherish a capitalist economy. Use critical thinking and supporting evidence in your discussion to explain why consumers purchase products such as fast food hamburgers and brand-named shoes.

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RESPONSE:

1. The United States has been known as the model of a capitalist society. Discuss the values and beliefs that have led people in the United States to cherish a capitalist economy. Use critical thinking and supporting evidence in your discussion to explain why consumers purchase products such as fast food hamburgers and brand-named shoes.

The United States has been considered a model "capitalist" economy, which was coined by Marx to describe a system where a small group of elite people controlled large amounts of money, or capital, as well as made most important economic decisions. Marx contrasted capitalist economies to "socialist" ones. Socialism vested more power in the political system. Marx and his followers believed that capitalist economies concentrate power in the hands of wealthy business people, who aim mainly to maximize profits; socialist economies, on the other hand, would be more likely to feature greater control by government, which tends to put political aims -- a more equal distribution of society's resources, for instance -- ahead of profits (http://economics.about.com/od/howtheuseconomyworks/a/us_capitalism.htm).

With the free market ...

Solution Summary

This solution examines capitalism in terms of social values and beliefs that led to capitalism being cherished in the United States, and why consumers began to purchase products such as fast food hamburgers and brand-named shoes. References and a supplementary article on Capitalism in the United States are also provided.

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