Capitalism

Capitalism Capitalism refers to a social and political system whereby production and distribution of goods is owned by asmall fraction of the society, who are known as the capitalist class, and the other group referred to as the working class must work in order to get a means of livelihood (World Socialist Movement). In this form of government, the working class is under the control of the capitalist class as they are supposed to work and produce goods which will be sold by the capitalist class at a profit (Knight). This means that the rich will accrue wealth by exploiting the majority population, and they will achieve this by encouraging people to work in order to get money to earn a livelihood.
The present day Dubai is capitalist and this is because the profit motive controls all undertakings and the royal family enjoys most of the profits acquired from the production of various commodities. For example, the Dubai royal family controls most of the oil reserves in the country and they fund other sectors of the economy in order to gain from different areas and build up wealth.
In my work environment, which is the court, capitalism exists and an example of this is that there are minorities who control the legal structures and they can get away with crimes through unethical practices.
There are various aspects of welfare state in the UAE and these include the government providing free education and access to funds for development purposes. The country also engages in helping its neighbors all in the effort of providing benefits to people all over the world.
The UAE was not capitalist 100 years ago, and this can be explained by the fact that people could help each other to survive and even at times for free. People traded with various items such as fish, and this was not for the profit motive, but to work together in order to survive. However, this has now changed and everything is done with the motive of earning a profit.
I believe that despite capitalism being just in that one gets what they work for, it is evil and people should help each other to survive and not be greedy in order to accrue wealth as others suffer from poverty. Everyone has a right to survive and exploiting others to amass more wealth as others suffer in poverty is unethical.
Works Cited
Connell, Shaun. What is Capitalism? 2012. Web. January 6, 2012.
N. A. Capitalism Is Life, 2011. Web. January 6, 2012
Knight, Alex. What is Capitalism? 2012. Web. January 6, 2012.
World Socialist Movement. What is Capitalism? 2006. Web. January 6, 2012.