Learning Paths » 5A Interacting

NBuccolo - The Crisis of Capitalism
by NBuccolo - (2012-09-20)
Up to  5A - A Crisis of CapitalismUp to task document list
 

STRUCTURAL ANALYSIS

 

The text taken into consideration consists of an economical blog called Schumpeter Business and Management. John Schumpeter was an Austrian-American economist who concentrated his studies on capitalism and its effects on  society.

So, right from the title the reader comes across the main topic of the blog, that is capitalism. What's more, the subheading stops him/her in front of the letter "C", which stands for capitalism, so the reader is expected to read different opinions about the meaning of the word.

Well, the first paragraph has the function to introduce the whole topic of the text. Next, it gives the reader an important piece of information about the structure of the text, that is it is an organised  list of quotations of various people about capitalism. So, the first paragraph acts also as a summary  for the whole text.

The first quotations is by Al Capone, an Italian- American gangster who lived in the first half of the 20th century. He affirms that capitalism is a "racket" of the "ruling class", so you can easily understand that capitalism is very close to power and it aims to bring more wealth to people who have some importance. Next, there is the quotation  by Winston Churchill, the British prime Minister during the Second World War; it states that not all people are able to understand the hidden meaning of capitalism. Instead, Thomas Friedman says that capitalism must be "freemarket", in order to bring wealth not only to rich people, but also to working class people. It sounds like a utopian  aim.

Going on reading, Erich Hoffer, a philosopher, thinks that capitalism has the ability to corrupt everyone who comes into contact with it, and also John Maynard Keynes agrees with Hoffer's point of view.

Naomi Klein has a negative vision about capitalism: she repeats  the word "crisis" twice to highlights the disastrous effects capitalism has brought with it. Next comes Karl Marx's point of view , the writer who theorised Communism, explains the double faced nature  of capitalism: on one hand it is positive ( "commodities"), ob the other side it can be very dangerous( "occult").

In addition, you will find two quotations about John Schumpeter, who has a strict negative vision about capitalism, while Samuel Smiles  compares capitalism to a man who is supposed not to spend all money he has earned through his life.

The last two quotations  are by Thomas Sowell and Deng Xiaoping. The first says that the only thing that capitalism considers is money, while the member of the Chinese Communist Party states that becoming rich is something glorious.

Finally, you can notice that there are different vision about capitalism: somebody agrees with its system while other people refuse it.