‘Capitalism benefits everybody’: discuss with reference to contemporary interactions between business, society and government policy in Australia.
Capitalism is an economic, social and political system in which the property, industry and business are owned corporately (Rand, A). This enables the organizations and individuals to maximise their profit. Capitalism mainly benefits businesses and governments however it completely overlooks the social aspect of the Business Society and Government (B-S-G) triangle. Society was not aware of the fact that capitalism was giving the idea of a free market where everybody was equal treated which allows the organizations to maximise its profit. As a result, capitalism has a very small effect on the society. A research shows that gender discrimination in developed countries is not as critical as in the developing countries which shows that capitalism does benefit the society. Although capitalism has some ethical and social dilemma in the B.S.G triangle, it still benefits the society through minimum wage which grants a better quality of life for the society.
It is important for the government to develop its economy as it could improve the society, the more money the government has the more benefit it brings to the society. The government could improve the quality of education and quantity of school, apart from that the government could also improve the welfare of the whole country (Nunno, R, 2010). Most of the developed countries adopt capitalism to improve its economy while the developing countries do not have capitalism and often falls into poverty sector because of the shortage in economy.
Capitalism does have some benefits on the society but it mainly benefits the governments and the organizations. The separation from and reallocation of power is considered as a disadvantage to the society as it can create monopolies. As a result, it affects the society which leads most of the individual`s from the society into the poverty sector. Capitalism does not benefit...