Learning Paths » 5A Interacting

LIaccarino - The Crisis of Capitalism
by LIaccarino - (2012-09-18)
Up to  5A - A Crisis of CapitalismUp to task document list
 

Structural Analysis

The text Capitalism is taken from an economic blog called Schumpeter Businnes and management . Joseph Schumpeter was an Austrian-American economist who likened capitalism to a "perennial gale of creative destruction", so the reader can expect that the text will analyse what the term "Capitalism" means. Moreover  from the subheading "An A-Z of business quotations" the reader can understand that the text belong to a blog in which there were some quotations about economy; in this chase quotations will be about Capitalism.

The function of the first paragraph is to provide information about the content of the text; it explains that the term Capitalism means different things to different people and he adds a judgment stating that the best definition of Capitalism was given by Schumpeter; in 1942 Schumpeter affirmed that capitalism is a creative destruction.

The following paragraphs are quotations of different people as authors, philosophers, economists and so on. Al Capone, a gangster, stated that Capitalism is the legitimate racket of the ruling class; here he used a word that belongs to the semantic field of mafia: "racket". Winston Churchill, the British prime minister during Hitler's Nazism said through the use of a metaphor that the most people did not understand what capitalism was. Thomas Friedman, a writer considered Capitalism as "the answer". Eric Hoffer, a philosopher, stated that business corrupts everything. John Maynard Keynes and Naomi Klein had a negative vision of Capitalism. Karl Marx, a philosopher, thought that capital is money and commodities and so he had a positive vision of Capitalism. The economist Joseph Schumpeter thought that Capitalism was a creative destruction, Samuel Smiles, an author, likened Capitalism to a man who does not spend all that he earned, Thomas Sowell, an economist, stated that Capitalism concerned everybody and  Deng Xiaoping, a Chinese Communist Party leader affirmed that to become rich is glorious.

To conclude it is important to notice that within the text there were different words belonging to the economic register like ruling class, freemarket, labour unions, totalitarianism, capital and so on.