Capitalism as seen merge up with democracy seems funny when one see this two concept/ideology together, the thing is if one sit to properly examine and be calm with this post you will see what and how it takes for the big bad capitalism being criticized by the likes of Karl max juxtaposed with the very humble and modernize democracy.
Before I proceed in all I would like to let you realize that capitalism is an eco-political concept of government whereby the private individuals control majority of all the means of production in a state i.e. the government intervention is not well recognized but don’t get it wrong, capitalist is anther word which means someone who has capital i.e. money to establish a business and stands on its own, the capital owns by this private individual is what makes him a capitalist i.e. having the real deal to making the business.
Democracy in its own part as being defined by many philosopher with the likes of Abraham Lincoln who said it is the government of the people, by the people, and for the people, though it was not generally accepted and a new definition was formed to it that it is an ideology whereby citizens of a particular community votes in their leaders through either direct or indirect election.
Now capitalist democracy is an idea whereby individual has the total right to own good and services or a business entity of himself and controls it in a way that pleases people unlike the normal democracy.
The market place is the center, the center of where democratic capitalist carries out their own activities compare to the old fold former capitalist boss of all market place, it determines what will be produced, who will produce it, and how the rewards of the economic process will be distributed. Talking from a political aspect, the market system in a capitalist democracy seems to have more advantages over other forms or ways of organizing the economy : the first part is that the no person or combinations of person can control the market place, which means that the power is spread and cannot be monopolized into the hand of any individual who might see themselves as capitalist. The second part is that the market place in a democratic democracy now reward profit with efficiency and loss for inefficient fellow, this strengthen the idea that many will feel lazy to market their product or might have just created a sub-standard product of which will be generally seen as inefficiency on the part of the capitalist who owns the business, and this act cannot lead to anything but loss, otherwise is the case for some anyone who see to his business effective and efficient for he/she will be reward with profit in the market place.
The general belief about capitalist democracy is that you have to be wise and you must let your own product or services be selected among alternatives.
FEATURES OF CAPITALIST DEMOCRACY
- FREEDOM OF CHOICE : when you talk about choice freedom in a capitalist setting, you mean nothing but that freedom that every producer or capitalist enjoy to select any product of his or her choice to sell without the interference of government who might want to make the decision not work well by it coming through.
- FREEDOM OF ENTERPRISE : this simply means that an individual has the full right or freedom to choose whatever business he or she feels will be profitable to him and not seeming an hard task which will become burden to his/her life or the business itself, this freedom gives the full right to the individual who serve as creator of a business to reap whatever profit he/she has make or to enjoy the loss he/she has embark on through maybe inefficiency or something else, he/she has the full right to get “RENT” as the reward for “LAND” and “INTEREST” for “CAPITAL” also “RENT” for “LABOUR” and “PROFIT” for “ENTREPRENEUR”.
- SELF INTEREST : in a capitalist democracy their is what we call self interest i.e the owner of the business feel and decide about all the way the thing is going to work out well, the business owner also known as the capitalist is see as the person who knows all about how to improve more on his business or drive a negative stake to the existing development.
- LAISSEZ-FAIRE : capitalist theory advocate a limited role of government in the economy. Instead, government should concerned with it’s functions of making and enforcing rule ( LAWS), and settling dispute that arise between economic player. It role is to establish a legal framework for the economy system to operate in, it totally lay off government regulation to the choice betterment of every individual in it.
- COMPETITIVENESS : so far there is no government regulation in the economy which gives individual way for him to choose prices independent of himself without anyone intimidation, this will increase competition and make price fall to an affordable price, just because no one is monopolizing the market.
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