Capitalism
Capitalism is an economic system characterized by private ownership of production and distribution channels, driven by the quest for profit through competitive markets. In capitalist setups, individuals and enterprises engage in economic activities to create wealth and amass capital. Key features include free markets, where prices are determined by supply and demand, and minimal government interference in economic affairs. Profit motives, the safeguarding of private property rights, and the promotion of entrepreneurship are fundamental elements.
Socialism
Socialism encompasses both an economic and political philosophy advocating for collective or governmental ownership and oversight of the means of production and distribution of goods and services. In socialist frameworks, resources are typically held and managed by the state or the community as a whole, rather than being controlled by private individuals or corporations. The fundamental aim of socialism is to promote greater equality and social justice by redistributing wealth and fostering communal ownership and decision-making processes. Key features commonly associated with socialist systems include centralized economic planning, the implementation of social welfare programs, and an emphasis on cooperation as opposed to competition. Unlike capitalism, which prioritizes private ownership, unrestricted markets, and individual profit, socialism places importance on collective well-being and the fair allocation of resources.
Communism:
Communism is a socio-economic and political ideology advocating for a classless society characterized by collective ownership and control of resources, typically overseen by the state or community rather than by private individuals or entities. In communist systems, the means of production and distribution are commonly owned and managed by the government or the community as a whole. The primary goal of communism is to establish equality and social justice by eliminating private property and promoting shared ownership of resources. Key features often include centralized economic planning, the absence of social classes, and the eventual dissolution of the state. Communism differs from capitalism in its emphasis on collective ownership, centralized economic planning, and the aspiration to eradicate social inequalities.
Q-
According to Daniel M. Bell Jr. , What is the theological critique of capitalism, and how does it differ from mere economic or political critiques? How does the capitalism distorts human desire and relationships, if you disagree, explain?
Reference:
What is Wrong with Capitalism? The Problem with the Problem with Capitalism” by Daniel M. Bell Jr. (2024). The Other Journal. Retrieved fromhttps://theotherjournal.com/2005/04/what-is-wrong-with-capitalism-the-problem-with-the-problem-with-capitalism/
Lecture:
Problems of Capitalism and Corporations .pdf
It’s all just history repeating itself
How Do You Know If You’re Living Through the Death of an Empire?
The History of US Recessions: Does history truly repeat itself?
Fed’s interest rate history: The federal funds rate from 1981 to the present
https://www.bankrate.com/banking/federal-reserve/history-of-federal-funds-rate/
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How does raising interest rates control inflation?
How Interest Rates Affect the U.S. Markets
How Do Interest Rates Affect Inflation? In general, rising interest rates curb inflation while declining interest rates tend to speed inflation. When interest rates decline, consumers spend more as the cost of goods and services is cheaper because financing is cheaper.
https://www.investopedia.com/articles/stocks/09/how-interest-rates-affect-markets.asp#:~:text=How%20Do%20Interest%20Rates%20Affect,cheaper%20because%20financing%20is%20cheaper.
When Should the Fed Stop Raising Interest Rates?
