ANALYSIS OF BLOG ON THE CAPITALISM’S QUOTATIONS

In the blog the term Capitalism acquires different definitions to different people.

The function of the reading is to better understand the meaning of the term Capitalism by the quotations which are reported in the blog, and also to know something “important” people’s opinion.

Cons

According to Al Capone Capitalism is a racket, this term is often used when we hears talking about drug. So the use of word racket to explain seems to suggest something illegal, but it is combined with the adjective legitimate. So the gangster maybe has wanted to imply the illegality of the Capitalism in spite of people don’t consider it as illegal.

Klein affirms Capitalism takes advantages from disasters.

Pro

Churchill gives a double face of Capitalism. According to him someone thinks it is something to be shot but in his opinion it is something to make advantage from.  

Friedman make people understand the Globalization. The Capitalism has open the door of freemarket.

Hoffer asserts all the world is capitalist, maybe more capitalist then Capitalism.

Keynes sustains  the state should intervene in the economy, indeed he doesn’t support the principles of laissez-faire. According the English economist the unemployment could be resolve with investments of money (tendering for leases of note-bearing territory) indeed Capitalism is instable and only the State can “correct” its defects. In the second quotation he affirms a man’s action can take the well-being of many others, indeed he said: Whenever you save five shillings, you put a man out of work for a day.

Marx affirms money take commodities and so well- being.

Schumpeter said Capitalism destroys all old economic structures but it will destroy itself. Indeed it provides wealth  and well-being but also destruction and so misery. This oxymoron is the synthesis of Capitalism.

Smiles compares the capitalist to a man who saved some money, so they are used in investments to produce more wealth.

Sowell’s quotation deals with the money colour: the green. Everything is controlled by money, indeed race, gender…ecc aren’t important if you have money! In addition the colour indicates something which never changes.

The last quotation is the statement Capitalism can produce wealth.

VOCABULARY OF ECONOMY

Racket=baccano, imbroglio, attività illegale

Private enterprise = iniziativa privata

Freemarket = libero mercato

Business = affare

Laissez-faire = politica di libera amministrazione dell’economia senza intervento dello Stato

Tender= offerta (di appalto)

Lease= locazione, affitto

Unemployment=disoccupazione

Deal= affare

Treasury = ministero del tesoro, tesoriera