Critique of Capitalism

Many countries especially in the west have been operating in an economic system known as capitalism. Capitalism is a social and economic system based on the individual rights, freedom, rule of law and free market economy (Reinert. and Jomo 70). It is characterized by features such as capital accumulation, competitive markets and price systems. It is also characterized by less government regulation or control of the markets as well as private property ownership. However, this system has been criticized by people of different quarters due to its economic and social consequences. For instance, it has been blamed for unfair distribution of………

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