Over the years capitalism has been influenced by religious and evolutionary thought just as it has taken on different forms and variations. Some forms of capitalism bear absolutely no resemblance to each other while others are quite similar. Two forms that are quite opposite in their approach to capitalism and philosophy are Laissez- Faire capitalism and Modified Market capitalism. Before beginning a discussion of these forms of capitalism, however, a definition of capitalism itself would be helpful. Capitalism is defined as being an economic system based on private ownership of capital. With this definition it is easier to proceed to the definitions of Laissez-Faire and Modified Market capitalism.
Laissez-Faire is defined as being an economic doctrine that opposes governmental regulation of or interference in commerce beyond the minimum necessary for a free-enterprise system to operate according to its own economic laws. A true believer in Laissez-Faire capitalism would believe in the separation of economy and state. The place where complete Laissez-Faire capitalism fails, however, is in mankind’s own greed and desire for riches. This often results in those who are stronger repressing those who are weaker. One could say this shows evidence of an influence of Darwinism in the formation of Laissez-Faire capitalism. The process of natural selection or “survival of the fittest” can be applied to business to justify immoral and illegal business practices, and this was done in America in the 1800’s and early 1900’s. In Christianity, however, we bear responsibility to our fellow man and not just ourselves.
The Term Paper on Economic Definitions
Definitions; Basic economic problem – Capital capital goods, or real capital are those already-produced durable goods that are used in production of goods or services. Command economy – economy where supply and price are regulated by the government rather than market forces Division of labour – Division of labour is the specialization of cooperative labour in specific, circumscribed tasks ...
Modified Market capitalism, by contrast, controls the human desire for riches and greed through more regulation than the “let alone” philosophy of Laissez-Faire capitalism. By taking into account the fact that those who are stronger will try to oppress those who are weaker, Modified Market capitalism controls the economy and thus, society, with stronger regulation. In fact, there is no country in the world that practices Laissez-Faire capitalism. All governments regulate the merges and monopolies of companies.
Darwinism has run rampant in business throughout history. “Robber baron” capitalists such as John D. Rockefeller have often either forsaken Christianity or adjusted it to contain their evolutionist ideas of “survival of the fittest”. Rockefeller once even said “growth of a large business is merely a survival of the fittest…the working out of a law of nature…” Even today, Darwinism persists in business. In 1996 Corporate Darwinism by Robert Blake and Robert Rogers attempted to apply Darwinism to business by saying that the larger will swallow the smaller in the corporate world and all corporations evolve according to very specific patterns. However, Darwinism in the corporate world inherently destroys the economy and social structure of the country or area in which it is practiced.
Ruthless capitalism creates a drastic imbalance of wealth and widens the gap between the rich and poor. It can also create an attitude of acceptance about problems such as racism, war, and sexism. Ruthless capitalism combined with Darwinism goes strictly against Biblical teachings such as “Do not wear yourself out to get rich; have the wisdom to show restraint.” (Proverbs 23.19) and “…or the rich man boast of his riches, but let him who boasts boast about this: that he understands and knows me…” (Jeremiah 9:23) Also the parable of the good Samaritan illustrates how instead of always seeking for our own financial advancement we have a duty to help out those in need. This happened in the form of organizations such as the Salvation Army and the Red Cross.
The Business plan on Amazon Business Practices
Abstract This paper provides strategic research for Amazon.com, starting with the vision and mission statements and an external assessment of the competitive forces using the Porter Five Forces model. Also included in this research is an evaluation of the intensive strategies used by Amazon in the areas of market penetration, market and product development. Additionally, a SWOT Analysis is ...
Religion, however much the secular world may try to erase it, will always have an impact on economics in world culture and community. From the ruthless, Darwin based, capitalism of the pre-Depression era in America to temperate capitalism practiced on Biblical principles, religion retains its inextricable ties to economics.
