CAPITALISM AND FREEDOM

Capitalism as a Threat to Freedom

Capitalism as a Threat to Freedom:

Introduction

Theoretical discussions and implications of the capitalistic theory accept as true, a balanced processing of both individual and societal rights. Despite this assertion, modern capitalism and its impact on economies has proven to be inclined ruthlessly towards strategies that are the least likely to be related to the interests of other stakeholders and elements in an environment. One such constituent is the welfare and progress of the society.

As Smith has argued, capitalism maybe innovatively employed by integrating certain non-economic assertions and considerations that can answer the ethical perturbations surrounding this realm.

Economic and social development does, at many levels owe its spread and success to freedom or more accurately the lack of it. This materialistic freedom lead towards a better life quality in consideration of the early era of the industrial revolution, helped societies to flourish until the advent of capitalistic outlook and its immense execution and strong footholds lead to a reduction in “free opportunities”. While speaking of freedom, the term does not merely encompass the economic implications, but also the freedom that leads towards greater beneficial initiatives.

While many capitalists may argue that the basic goal of the same is to encourage economic freedom at all levels, it may be argued upon that the concept of freedom in any society or business environment, relates to not just the consequent benefits but also to the freedom that associates itself with risks and underlying competitive threats and struggles. Progress of any society may not merely be weighed upon by the successful variables and factors rather it is the cumulative aggregate of these variations that will truly lead to societal development. Capitalism, despite its goals of seeking economic development fails to place limits over it controlling elements. This is perhaps why civil and political liberty relates to doctrines that are in sharp contrast to this misleading concept of “economic success”.

Capitalistic Structures, Power & the Outlook towards Freedom

Freedom maybe termed as an express utility relating closely to the degree of control practiced by the Governing body over the public. In terms of the influence of supremacy and authoritative control, this power is in an indirect relation to the autonomy of the public sector. According to Porter's five forces, the greater control of the Government, the greater is its bargaining power and hence the lesser the power among the remaining stakeholders. The public in return will be subjected to a consequent diminution in its bargaining power, deciphering into an impending threat towards one's individual and social freedom. As the power to any single body or institute increases unchecked and rampantly, the greater the suffering imposed due to usurping of one's freedom. The people with lower power will therefore be more likely to experience a transition from reliance on their governing bodies towards dependency. Masses have been defeated and beaten down by this mere mislay of power and eventually lose their command over objections or opposition. History has spoken of this imbalance of power, such ...