whichphilosophy
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Capitalism for dummies.
An economic system that features private ownership of the means of production (such as factories, offices, and shipping enterprises) and in which market forces determine the way in which goods are produced and the means by which income and profit are distributed is called capitalism.
The problem here is of course the 'Free Market concept' which is built into the Capitalist structure(s) where prices are determined by unrestricted competition between privately owned businesses. In extreme cases, a giant corporation can put competitors out of business as it can afford to sell goods well below the price of production. (After all this corporation would own other enterprises).
This results in cut price labour, where as we also see work is transferred to cheaper countries abroad. When people are paid less, less money circulates in the economy thus creating less jobs in shops, leisure, holidays, consumer spending etc. Free trade in its true state means higher paid workers in developed countries losing out to sweatshops in undeveloped nations.
I would say the West has tried using mixed economies to try to use both enterprising techniques in marketing but ensuring some means of fair payment to its workers. Perhaps the fact that money circulates more within the lower paid parts of the economy is one of the recipes for national/international prosperity.