Mrs Greco's 2nd Period Class by Marianne Greco https://padlet.com/marianne_greco1/9n98x4jljacz Post your discussion response here en-us 2017-03-06 18:08:00 UTC 2026-03-06 20:31:43 UTC hello@padlet.com Pros of Capitalism marianne_greco1 https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284736459 2018-09-23 12:49:11 UTC https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284736459 Cons of Capitalism marianne_greco1 https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284736521 2018-09-23 12:49:45 UTC https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284736521 Since the people and companies control the goods, supply and demand is controlled by what is needed and wanted by the people who purchase the goods. marianne_greco1 https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284736627 2018-09-23 12:50:36 UTC https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284736627 Since there is economic freedom and people can make their own choices, the government does not control or own the right to decide on what you make/production or what the price is for goods. marianne_greco1 https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284736680 2018-09-23 12:50:59 UTC https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284736680 Free market encourages competition which usually keeps prices low and allows buyers to have more choices. marianne_greco1 https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284736716 2018-09-23 12:51:18 UTC https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284736716 Creates social inequality with a small group of "haves" and a bigger group of "have nots"- we see huge gaps between the rich and the poor in capitalist societies. marianne_greco1 https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284736776 2018-09-23 12:51:57 UTC https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284736776 We are all starting the race at different point which does not make the competition equal. Some are born into wealth while others are born into a lower income status. marianne_greco1 https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284736886 2018-09-23 12:52:54 UTC https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284736886 Competition and little government control causes mega companies to grow which then pushes out other smaller businesses and that limits our choices and may cause prices to go up since competition is eliminated. marianne_greco1 https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284737059 2018-09-23 12:54:13 UTC https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284737059 There is no class position you are stuck in-you can work hard and move up to the middle class or become wealthy. marianne_greco1 https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284737221 2018-09-23 12:55:47 UTC https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284737221 Competition leads to "Boom or Bust" business practices and cycles which is not good for society as it may cause cycles of unemployment and waste resources and people when people jump on "bandwagon" businesses. marianne_greco1 https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284737309 2018-09-23 12:56:33 UTC https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284737309 Private ownership of businesses and land means you own the business or property-not the government. marianne_greco1 https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284737423 2018-09-23 12:57:43 UTC https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284737423 Causes your society to be obsessed with money and how to get it. marianne_greco1 https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284737495 2018-09-23 12:58:18 UTC https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284737495 People may abuse the system of little government restrictions since all people are not nice and good- they may cut corners to make a profit and that may create unsafe products. marianne_greco1 https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284737700 2018-09-23 13:00:33 UTC https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284737700 Because the largest expense of most businesses is the labor needed to produce goods and services, the emphasis of Capitalism is to eliminate the need for workers instead of creating more needs for them. Self-checkout stands at restaurants and grocery stores is an example of this evolution. marianne_greco1 https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284737776 2018-09-23 13:00:58 UTC https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284737776 Private ownership of businesses and land means you own the business or property-not the government. marianne_greco1 https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284738578 2018-09-23 13:08:05 UTC https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284738578 Competition creates innovation- companies push technology forward as they compete and try to have the latest and best goods to sell. marianne_greco1 https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284738620 2018-09-23 13:08:32 UTC https://padlet.com/marianne_greco1/9n98x4jljacz/wish/284738620