Describe Government Manipulation and Economics-Capitalism

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Government Manipulation and Economics-Capitalism
Capitalism has brought in many effects in the globe today. Many issues, as well as many developments in the nations, are attributable to the national economic and political systems adopted by that nation. Kurlantzick (54) explains capitalism as a free market/ free enterprise economy whereby production is guided, most of the means of production are privately owned and the distribution of income is majorly through market operations. This social system of private ownerships thus is open to new enterprises, new markets, new ideas and new capital. Many individuals hold the belief that capitalist systems develop, protect and stabilize the society and they have evolved and modified for various reasons. Notwithstanding, without control, it can become destructive and can highly invade and dim civilization. Marxism postulate that capitalism sows the fruits of its own destruction; and this contentious statement may be true but does not dilute the fact that capitalism continues to grow and has significantly contributed to the advancement of humanity. Accordingly, the paper will elaborate capitalism; its principles, its development, major figures, its culture and period, major events, reactions and its impacts.
Understanding Capitalism; Development/History, key figures and its Principles
Development of Capitalism and key figures
The sociological micro-foundation for the dynamics of capitalism fixates on the expectation concerning the global future states. Capitalism in the world began as a reaction and an effort to annihilate the comparatively inflexible feudal lifestyle. Feudalism is a political-economic system whereby landowner granted land to a servant in exchange for services such as military or homage. The feudal economies persisted up to the end of the fifteenth century after which there began to be a rise of the merchants in the beginning of the sixteenth century (Beckert 330). These merchants also referred as buyer uppers emerged as the connection between consumer and producers. They grew to dominate the trade sector and evolved into capitalists in the seventeenth century. This means they amassed wealth from owning the means of production.
The rise of capitalism drove out the feudal economies as well as the aristocratic rules. It saw to the rise of manufacturing and the industrial revolution. Notably, the rise of capitalism is attributable to the systematic breakdown of feudalism as an economic and as a social-political to be replaced by a wage labor system. The increased use of money and inflation systematically obliterated the feudal systems. Sadly, the development of capitalism emerged from the exploitation of the working class. Paradoxically, capitalism brought with it the power for labor workers to organize for change. Key figures in the development of capitalism include Adam Smith, James Steuart and David Ricardo who established a discourse which elucidated the rationale, the origin and the critical rightness of capitalism (Beckert 335). Other theorists such as Karl Marx, Émile Durkheim, Simmel and Max Weber helped in the comprehension and adoption of capitalism. These theorists even tried to give alternatives. To date, cap...