Is Capitalism Fair?

    Capitalism is an economic system that is based on private ownership of the means of production and the creation of goods or services for profit. It is considered to have been applied in a variety of historical cases, varying in time, geography, politics, and culture. There is general agreement that Capitalism became dominant in the Western world following the demise of feudalism until nowadays. There are people in favour of this system, who claim that Capitalism has fostered freedom and an increase in the standard of living and human rights, and vice versa, and people against it, who state that it is unfair and unjust, since a few people with a lot of money are taking over the world, causing poverty and inequity. So, is Capitalism fair? Does it supply what every human being needs? Is there any alternative to this system?

    Capitalist economic practices became institutionalized in Europe between the 16th and 19th centuries, although some features of capitalist organization existed in the ancient world, and early forms of merchant Capitalism flourished during the Middle Ages. Capitalism has been dominant in the Western world since the end of feudalism. It gradually spread from Europe, particularly from Britain, across political and cultural frontiers. Scottish philosopher Adam Smith is cited as the father of modern economics and Capitalism, with his book The Wealth of Nations being a fundamental work in classical economics. Capitalism is the system of raising, conserving and spending a set monetary value in a specified market. There are three main markets in a basic capitalistic economy: labor, goods and services, and financial. Labour markets (people) make products and get paid for work by the goods and services market (companies, firms, or corporations, etc.) which then sells the products back to the labourers. However, both of the first two markets pay into and receive benefits from the financial market, which handles and regulates the

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