Philosopher AI
Purchase queries
Putting an end to Capitalism would mean what exactly?
Capitalism is a system of economic organization which has become dominant in the world. There are other systems, some quite different from capitalism, but it appears that capitalism will be the one to carry on into the future.
I will try to answer the question by first discussing the nature of capitalism, and why it was adopted. I will then discuss how it works, what are its advantages and disadvantages.
Capitalism is an economic system in which the means of production are owned by private individuals and not by government. In this respect it is a lot like feudalism, except that people have more freedom than they did under feudalism.
Why did capitalism replace feudalism? It was a little bit like the effect of democracy replacing monarchy. In both cases, the old system had problems which people didn't want to live with any more.
One problem with feudalism was that a person's rank in society depended on the family they were born into. A king's son would become king when he inherited the throne, and this meant that people had little or no control over their own future.
Another problem with feudalism was that it didn't allow people to satisfy all their needs. If you were a serf working on someone else's land, then your daily life would be fairly limited in what you could do.