Business 6600 : Foundations of Capitalism
- Discuss how the Foundations of Capitalism and the Planks of the Communist Manifesto are similar. Discuss how they differ.
Discuss three ways in which your current life is different because of the economic system you have lived under.
What are your thoughts as to why a poor or under employed person in a market economy might reject capitalism and prefer a socialist or communist state?
Minimum 750 words, and 3 References in APA Format. This is for a Masters Degree, and needs to be written well.
The four foundations of capitalism include the right to own property, the freedom for people to do or have their business of choice, the right to people with the freedom of choice and the right for people to inherit. Capitalism thus focus on these fundamental rights of the citizens where they are given the freedom by the government to own property and perform their business with little or no interference. The Planks of the Communist Manifesto do not allow any of these. As a matter of fact the first prank talks of the abolition of property in land and the application of all the lands to public access (Laski, 2014). This requires…