1.Introduction3 2.What is Capitalism3 3.History of Capitalism4 3.1. specializations5 3.2.Weaknesses6 4.Greatest Strength7 5.Greatest Weakness8 6.Ethical in Australia?9 6.1.Economic9 6.2. genial10 6.3.Industrial Relations11 7.Conclusion12 References13 1.Introduction Capitalism, as a counterfeit of government has a foresightful and complicated history. M any(prenominal) oblige tried to define one single form of capitalistic economy; however there are a number of various variations depending on things such as, geography, politics and culture. There are a number of different strengths and weaknesses associated with the generic form of capitalism and this see will discuss all of the major points of each. The economic, social and industrial relations system in Australia will also be discussed, in reference to whether or non the current capitalist arrangements are just and ethical. 2.What is Capitalism Capitalism, according to the Collins English lexicon (1999), is an economic system based on the private self-will of industry. Dainanu and Vranceanu (2005, p 5) state that capitalisms primary(prenominal) purpose is maximization of earn.
Capitalism has the underpinning of a prescriptive ethical theory such as ethical egoism. Shaw and Barry (2004, p 57) state that Ethical egoism is the normative theory that the onward motion of ones own good is in agreement with morality. Shaw and Barry (2004, p 57) also state egoism contends that an act is morally right if and only if it best promotes an agents (person, mathematical group or organisation) long term interests. In this case the long term interests are for those wishing to make a profit and continue to do so. Daianu and Vranceanu (2005, p 5) state Capitalism consists not only of the private appropriation of consumption and production resources, however also of the assumption that complete control over the conditions of any action is both desirable and possible. This relates to the economic... If you want to mend a full essay, order it on our website: Orderessay
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