The analysis of the text Capitalism

The text we are considering is from a blog and the blog’s name is Schumpeter. The most important topic, that is also the title of the text is: Capitalism. At the beginning of the text there are a lot of definitions of the world “capitalism”.

Karl Marx represents it like “an occult ability to add value to itself”; in Winston Churchill’s opinion it was “a healthy horse”: Al Capone describes it “as a racket” and finally in Tom Friedman’s opinion it is simply “the answer”. But the best definition of Capitalism is “creative destruction” by Joseph Schumpeter. So the first part of the text has an introductive function to describe and to give a meaning of the word “capitalism”.

The second part of the text is about the definitions of “capitalism” by others economists.

Reading the text I made the semantic field of Economy. It contains the words: business, racket, free market, environment, unemployment, real income, capital, wealth, frontier capitalism, crisis, money, commodities, factory, markets, industrial mutation, craft shop, capitalist, spend, earned, rich and capitalism.

The purpose of the reading is to understand the meaning of the word “capitalism”, but also to know the different definitions of it to understand the different opinions of all economists. In addition the Capitalism is the context to know the economy of the world.