In class we have discussed a few good things and a whole bunch of negative effects capitalism has on our economy and the people that live in it. Capitalism was defined in class as an economical system based on profit. With this said we know everything that is done in our economy is done for profit or money. We learned of many different ways that this ‘goal in life’ has almost ruined our economy. We see this idea ruin families and people of all sorts. People let capitalism take over there lives and become so greedy that they will kill for more money.
One reason of many that capitalism, or the idea that profit is number one, is bad is that eventually the competition lowers the quality of products. Since whoever sells more makes more profit, companies will make poorer quality products if it saves them on expenses. In our economy there is a saying, ‘You get what you pay for.’ This is the only thing that helps us decide to not get the cheapest one. This isn’t in products alone. Most people think in their minds that if they pay a little more for a service that they are getting a better service and most people that charge less think that they don’t have to do as good of job on the service. This confuses the economy and pretty much makes us think we are never able to pay enough to get a good job done.
We have figured out a way to compensate for the poor quality unsafe products that are put out on the market everyday by offering warren ties. This doesn’t seem like a bad thing but really its just compensation for horribly made products or services. This became an issue that couldn’t just be sent back though in the early seventies when Ford put out the Pinto. This car was released unfinished with a gas tank defect that was known about by the company. In order to compete with other companies in that car size category Ford felt it had to release it anyways and put a price of a little over 200, 000 on the human life. They felt it more costly to actually recall the cars and fix them than to just pay settlements to the victim’s families.
The Essay on Product and Service
A product is anything that meets the requirements of a particular market, this term involves a lot of dimensions because it is essential to recognize what contributes to the “total product offer”1 in order to be successful in the market or simple to keep our customers satisfy. A service is an intangible economic activity, not stored and does not result in ownership; Services nowadays are becoming ...
As long as we have capitalism we will have things like this in every in dusty. From food, to cars, and everything in between, this poor quality issue can and is very dangerous. Another downfall of capitalism is our concept of time and how warped it is becoming. In this day and age time has become so important that is related directly to money in the frequently said belief ‘Time is money.’ Before the days of the railroads time wasn’t a big deal at all. Stores or shops that opened twenty to thirty minutes late were’t looked down upon. People were just expected to be early or late but these terms ‘early’ and ‘late’ just weren’t used.
There wasn’t any other way to be. Also they didn’t have or need the technology that makes time seem so critical today. With transportation being horses and communication only being directly speaking with each other it was a much more personal economy. Now with a touch of a button i can communicate with someone around the world and or buy something there without out even leaving my house. It seems as though time is only becoming more valuable because the technology is making it that way. It also destroying personal relationships between families because it seems no one has anytime for each other any more.
If there is vacation ‘time’ people feel so lucky to get it family doesn’t seem as important. Plus with cell phones, once with the family, business can still call, email, and or fax information so it makes it hard to focus on family. Also many multi-billion dollar corporations have evolved just so people can actually enjoy there ‘time’ in the vacation industry. It also seems that over time we have put different time increments into effect getting lower and lower. I would also like to point out that cell phone industries are widely advertising and putting on ‘minutes.’ What will it be next. Will seconds become more important in the future.
The Essay on Technology is important for us
Imagine yourself a world without the existence of the word technology? How does that world look like? For me it’s a world without evolution and creativity, a place where everyone is closed minded. Like the cavemen where we once was in the Stone age, but this time infinitely. Technology is something very important for our society and mankind. It gives us hopes and dreams to reach out for. ...
I personally believe this concept we have of time will end up being a downfall of mankind and technology.
