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Capitalism inherently divides society into two classes: those who have the resources to launch businesses (capitalists) and those who have only their labor to sell for a wage (workers).
Democracy has become a business plan, with a bottom line for every human activity, every dream, every decency, every hope. The main parliamentary parties are now devoted to the same economic policies – socialism for the rich, capitalism for the poor – and the same foreign policy of servility to endless war. This is not democracy.
In socialist economies, a central body — the government — owns and controls the society’s assets, firms and resources, and distributes them to the population as it sees fit.
Marxists believe the structural nature of society (which is the cause of poverty) has to be changed to remedy poverty in society. [6] Conversely, critics to this perspective, like Milton Friedman postulated that under the socialist perspective, the suppression of individual rights and that of a free market economy can result in political ...
Capitalism 1.0 during the 19th century entailed largely unregulated markets with a minimal role for the state (aside from national defense, and protecting property rights); Capitalism 2.0 during the post-World War II years entailed Keynesianism, a substantial role for the state in regulating markets, and strong welfare states;
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Karl Marx's three volume Capital: A Critique of Political Economy is widely regarded as one of the greatest written critiques of capitalism. [citation needed]Criticism of capitalism typically ranges from expressing disagreement with particular aspects or outcomes of capitalism to rejecting the principles of the capitalist system in its entirety. [1]
Theories on the causes of poverty are the foundation upon which poverty reduction strategies are based. While in developed nations poverty is often seen as either a personal or a structural defect, in developing nations the issue of poverty is more profound due to the lack of governmental funds.