Answer :
Capitalism led to substantial wealth for the business elite and middle class, but also resulted in economic inequality, unemployment, and housing affordability issues for workers. While it promoted economic growth and innovation, the benefits were unevenly distributed, leaving the working class with low wages and poor working conditions.
Capitalism restructured numerous aspects of life and while it led to the creation of immense wealth, it also resulted in significant levels of poverty. Workers experienced a wide range of outcomes as a result of capitalism's rise. In many capitalist countries, wealth, previously held by the political elite, transitioned to the business elite. This shift often led to a reduction in staff as new business owners aimed to increase efficiency, consequently causing unemployment among ordinary workers for the first time. Furthermore, the drive for profit in capitalism saw a spike in housing costs, putting home ownership out of reach for many.
Capitalism did produce economic growth and innovation by incentivizing profit. However, this growth was not evenly distributed, leading to substantial economic inequality. Workers, particularly in the burgeoning industrial sector, faced exploitative working conditions as company owners maximized profits at the expense of workers' wages and wellbeing. Capitalism pitted the pursuit of personal profit against the collective welfare prompting debates comparing it with socialism, which, as noted, tends to show fewer extremes between wealth and poverty.
Through the lens of Marx's critical analysis in 'Das Kapital,' the capitalist system is seen as inherently flawed, with the bourgeois exploiting workers to amass profits and political influence, potentially leading to a collapse of the system and a workers' uprising. In conclusion, while capitalism conferred certain benefits like innovation and individual freedoms, it also imposed significant costs on workers in terms of economic inequality and job security, raising questions about whether the benefits outweighed the costs.
