Economic system based on the value of capital, the constant need to generate and increase profit where everything and everyone is considered as a means to get to profit or disregarded. This economic system is global, with it's core characteristic of profit before everything else working and being applied in democratic societies as well as totalitarian regimes.
Effects of the current global economic system of Capitalism on the Human Being
- Fear of Survival.
- Haves and Have-nots.
- Removes the ability to freely choose Who and How does one want to be and express oneself within this world.
- Nature and Animal exploitation.
- Products and Services and thus jobs are not created to best serve the customer, effectively take care of needs of the people, animals, nature and the environment, they're created to generate profit as the sole purpose of products, services and jobs existence.
Justifying Capitalism - Freedom of Choice
The most common justification used to support the status quo as Capitalism as that within Capitalism one has the Freedom of Choice. However such a freedom only exists for those that already have substantial capital as without money you can not do anything or choose anything within this world. For those without money, the dream and the promise of "You can make it as well, you just need to try really hard" is provided. Such a promise is an obvious lie. The system of Capitalism simply can not work for everyone and not even for the majority as the mathematics of money creation, debt and redistribution of the capital do not support the group, the majority - they are designed to support and work for a small minority of people - the elite that protects their position through this capital, through beliefs and promises for the masses such as the above promise of "You can make it as well".
Justifying Capitalism - Scarcity of Resources
Another justification that is often used by Capitalism supporters is that Capitalism is simply the best mechanism of distributing and allocating our scarce resources. The assumption is made that because there is a finite amount of resources, and an unlimited amount of needs and wants -- that it is inevitable that some will get and that some won't. From there they reason that thus the free market mechanism is the most efficient way to allocate our limited resources, for a given distribution of income. The problem however does not lie within our limited resources -- but within the in-distinction between wants and needs. Within the capitalistic system wants and needs have both equal value. As long as one has the financial means (=money) to purchase whatever they want/need -- then they can get it. This however implies that anyone without money falls outside of the framework of supply and demand (as a demand is only considered to be valid if one has the money to get what they want) and are consequentially left to fend for themselves. There needs are not considered. Secondly, capitalists use the words 'scarcity' and 'limited' interchangeable within the context of resources, as if both words mean the same thing. This is incorrect. Scarcity refers to a shortage while limitation simply refers to something having a beginning and an end. Something that is limited, can still be plentiful.