'Capitalism is a force of progress for business and society'. Discuss Essay - 1

Capitalism is a force of progress for business and society. Discuss - Essay utilizationAccording to Potter (2008), capitalist system in the recent scenario has encouraged the businesses to become a major cause for economic, environmental and social complications. On further analysis of his views it is ascertained that modern-day companies are underdeveloped and prospering at the cost of societal degradation. The essay intends to discuss whether capitalism is acting as a force or not in the progression of business and society. Furthermore, the essay will reflect the views and theories provided by various originators regarding capitalism and its implications upon society and business. Evaluation of Capitalism as a Force of Progress for credit line and Society According to Fulcher (2004), in traditional influence of business the merchants used to invest money in order to get better returns in the forms of goods and monetary valuations. In the similar context, the capitalist produc tion in the present scenario mainly depends upon the exploitation of the wage labour. In the capitalist society, labour is considered to be vital as they are engaged in more work activities that facilitate to increase the production and ultimately the consumption. Furthermore, the authors view reflects that in the market, production along with consumption frame the basis of economic activities. As ascertained by him, market fluctuations give rise to the basis of hypothetical form of capitalism that does not result in any productivity. In this regard, this mechanism of capitalism theory frames the key operational position of the capitalist economic system. According to Cammack (1998), with the advent of capitalism, the liberal democracy has been diminished. Liberal democracy represents a g everyplacenmental form that operates following the principles that are implemented to protect the rights of the minorities. The domination of capitalism in the economic sphere world-wide has act ed as a key force to overpower liberal democracies. In recent scenario, in the center of capitalist society, the minor section in the society is being exploited with a motive to wee more profit margins. Furthermore, inequality within the capitalist society has taken a greater aggrandizement as mentioned by Cammack (2009) & Guimaraes (2012). The authors highlighted the viewpoint of Organisation for Economic Cooperation and Development (OECD) that expresses views related to globalization. In accordance with this viewpoint, globalisation has been considered as the win-win process by the economists but public opinions regarding the concerning view was quite hostile. The trend of inequality and the to a higher place mentioned perspective relate with the capitalist society wherein most of the firms operate within competitive world economy with profit motive. In relation to capitalism in the modern era, the corporate sector has taken over a majority of the market scenario. In this rega rd, Crouch (2011) explores that in the midst of liberal society, capitalism is entry by the mode of two vibrant thoughts within the societal context. The group that fears expansion of the government sector within the society prepares itself to tolerate the exploitation of private sector. Whereas, the other group is ready to encourage the ontogenesis of governmental sector in order to reduce the expansion of corporate sector within the society. Furthermore, in keeping with the notion whether capitalism is facilitating the business and societal development or not, Dicken (2010)