Question

2. What is the capitalist economic system? And what is it that capitalism is unfair to the workers

Answer 1

Capitalism is an economic system in which private individuals or business own capital goods . There is no central planning or command by government in the economy .The market runs on the basis of supply and demand forces . All means of production are owned and utilized by private individuals . Every capitalist live to make money and earn maximum profits . Here government's job is only to ensure safety and proper property rights .

Capitalism is unfair to workers because here capitalist are profit makers who pay workers very less . There is no government intervention to ensure equal distribution of income . Workers do not get enough wages for a decent life and maximum profit is reaped by the enterpreneur . This causes concentration of wealth in few hands . External costs are ignored in capitalism and there is no provision for health , education etc for workers at lower costs .