How will capitalism end how will capitalism end essay

A little about the essay
After reading this article you will learn about Capitalism:- 1. Definition of Capitalism 2. Features of Capitalism 3. Development 4. Crisis 5. Collapse 6.
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Industrial Revolution and the emergence of Capitalism - Himachal Pradesh PCS Free Notes

Capitalism could be defined as the economic policy of a country that allows the people to have their own private property. The right to gain and build your own wealth and compete in the market with others falls under the prominent characteristic of capitalism. This system backs the society and encourage the people to be a promising part in the economy of the country. This unique feature of capitalism is one of its own way and holds an important position in deciding and turning the tables of growth of a nation as a whole. In a more broader sense, the distinctive features could be explained as the presence of lack of government invention, means of production completely owned by the private firms without any powerful role of government authorities and many more. But as it is known to all, everything has its own impact on others.
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Whether you overheard your parents talking about it or you read about it in a local newspaper, what does it really mean? Most people only have a slight idea of what Capitalism is. If told to explain what it really is and how it came about, they probably hide their faces in their arms. Many students also fall into this category.
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If the government own the means of production and control the prices of the commodity, then this will perpetually turn into a powerful state that comes up with a large bureaucracy, which may extend into other areas of life such as the freedom of the citizens. Capitalism also leads to an efficiency of the involved firms; this is because the capitalist based society incentives to be efficient and more productive with goods, which are in high demand. These incentives will result in designing goods of high quality, less expensive and minimize waste, if a company is not productive and efficient, then it will be forced out of the market by other firms. It has been established that the state-owned firms tend to be more inefficient as compared to private companies.
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