Capitalism is a symbol of economic freedom of a country, it
has played an important role in the progress of globalization, and it has changed
the face of the world particularly in the last 2 decades. It has been
exponentially growing as the democracy is spreading on the more part of the
world, liberal democracies are the ideal launch pad for it, and so as United
States, UK, Germany, France, Japan, etc have the most number of the capitalist. Capitalism
was going through lots of ups and downs in the 20th century, the
philosophy of Karl Marx, called Marxism, whose implementation was communism,
had taken the clean sweep to counter it across the world.
Capitalism emerged as the big player in the economy, and shortly
it became one of the important undeclared pillars of the inclusive and liberal
democracy. It was successfully used by the government for the economic
expansion beyond the border, and the diplomacy which was political among the
nations had taken the shape of trade diplomacy. Capitalism was marked by
the large scale production, huge infrastructure building for business, a number
of fold increments in the economic progress, invention and innovation, huge
investment in the research and development projects and ultimately high life
standards.
The global economy is now growing with the highest speed, the
GDP is all-time high at US $ 75 trillion, and all credit goes to capitalism.
The global GDP has doubled in the last 2 decades if you consider 4 decades it
has increased 10 times, and it has been led by the emerging high tech
companies. Private limited companies are the major employment creators, they
are involved in garbage collections to the advanced technology inventions and
implementations, and in some countries, it has concluded the government just to
maintain law & order only.
Capitalism has brought the world closer, it has played an important role in the globalization, the world is now more inter-connected,
integrated and interdependent, due to the growing trade and the advancement
in areas of communication and transport. It has brought closer the privileged
and underprivileged nations together, one has the surplus funds, technology
and business infrastructures and others have the surplus human resources, raw
materials and consumer for their goods and services. Capitalism has eradicated
the differences based on the caste, religion, culture, nationality and color,
and has also involved in the exchange of culture and moderating the religious
belief.
Although, the full credit goes to the Capitalism for the
fastest growing global economy but it has been accused of violating human
values and its right. It is being accused of promoting wealth driven work
environment and artificiality. The advancement of new technology and the
replacement of human resource with the help of robotics, artificial
intelligence and automation are the serious threat to the human race, and it
might led to the moral degeneration of humanity.
