Capitalism Essay Example | Topics and Well Written Essays - 2000 words

Capitalism - Essay Example Protection of private property was never so legally simplified before the advent of capitalism and the legal implications of private ownership suggested greater independence of private property owners and provided clear protected ownership that could be legally validated. Capitalism brought in the standardization and integration of property rules, increased trust in economic transactions and laid down the risks of ownership with possibilities of insurance against such risks. Loans and borrowing became easier as personal credit history could be checked and there was an increased standardization and transferability of statements documenting ownership of property (Levi-Faur et al, 2005). This specification of property limits and rules and regulations of ownership indicated a smoother flow of property between individuals and enabled a well-defined role for companies so that they could easily operate in national and international markets. The concept of capitalism has often been criticised by the fact that ownership of enterprises shows the division between the employer and the employee as the profits seem to go to the employer and is not shared by the employees. The growth of multinational companies is thus a direct influence of capitalism and the changing global economy has also been directly shaped by the spread of capitalism across society and nations. In fact, the world today could never have been the same without capitalism and considering this, it is important to examine why and how capitalism first emerged in the 16th century and what are the social, historical and political implications. Capitalism - A Background Capitalism is often contrasted to feudalism on the one hand where a monarch has ownership of property and socialism or communism on the other in which means of production are owned by the community collectively (Sweezy et al 1976). Karl Marx, used the term 'capitalist' in the Communist Manifesto although the word 'capitalism' introduced by Thackeray in 1854 meant as the possession of a large amount of capital. The ideology of the capitalist class also known as the bourgeoisie is known as capitalism which closely relates to the capitalist system (Marx, 1890/1976). Considering a social history of the distribution of wealth, Marx contended that human society has passed through several stages and modes of production. The mode of production has changed from ancient communism to primitive slavery, then to feudalism and capitalism. Marx sees society as being divided into two major social classes - the class that has control of the means of production (the exploiting class or bourgeoisie) and the class which do not have any control or does not own the means of production (the exploited class or the proletariat) (Marx 1890/1976). In ancient slavery, the slave-owners exploited the slaves. In feudalism, the lords exploited the peasants. Under capitalism, the capitalists exploit the workers and exploitation happens through the expropriation of surplus value. The surplus value is the total value of the products made by the worker minus what the worker is paid. The exploited class resists this exploitation and the resulting class struggle or class conflict is what drives human history forward. Marx argued that under the capitalist system, workers are treated like a commodity or equipment rather than a person and also

Purchasing behaviour of young people at the university as far as Essay

Purchasing behaviour of young people at the university as far as purchase of smart phones is concerned - Essay Example Appendices 16 Research question: 16 Background 16 Methodology and sample 16 Sample questionnaire 17 Executive summary The study is aimed at researching the purchasing behaviour of young people at the university as far as purchase of smart phones is concerned. Over the past few decades, there has been widespread innovation and innovation in the ICT field. This has seen the introduction of smart phones that are almost similar and in some cases even arguable better than computers. To establish on how this environment has influenced the students in universities, the research was done by using of structured questionnaires as well as random interviews on campus. The questionnaires were prepared and circulated to a group of fifty students that were randomly selected in order to make the findings as objective as possible. The collected data was then manipulated using SPSS software. The research was mainly based on the characteristics of brand name, the price, the smart phone features, cost a nd last but not least, the gender of the buyers. As the research established, most students bought the smart phones due to the functionalities like Wi-Fi for purposes of convenience. However, peer pressure was also seen as one of the main contributing factors in the purchase decisions of the students. 1. Introduction 1.1 Terms of reference The participants of the research were university students. What inspires students to acquire smart phones may not be the same as what inspires other people in the society to acquire smart phones. For instance, students like following trends and most will buy a smart phone if all their friends buy them. In addition to this, students will often consult with their colleagues when trying to do some research before they buy a phone. The research carried out sought to establish a number of questions:- What informs the purchase decisions for smart phones by students? What do students seek out in the phones they purchase? Where do students get the relevan t information that informs their purchase decisions for smart phones? 1.2. Background Needless to say, the smart phone does more than just help the owner to keep in touch with friends and families. This device also helps one in carrying out various computing processes. In fact, there has been a widespread debate on the possibility of the Smartphone totally replacing the computer. The spread of the Smartphone use has especially been fuelled by the entrance of more affordable models by the different manufacturers. The smart phone revolution came hand in hand with the revolution in gaming consoles, PDAs, Cameras, GPS as well as other important revolutionary concepts in ICT. The introduction of open source applications on the android platform has made the maintenance of the Smartphone more affordable on the lean budget of a student. For instance, instead of having to pay monthly subscriptions for applications, there are many developers on the open source platform that use the General Pu blic User licence on their apps. In addition to this, companies like Huawei among many others have also developed inexpensive Smart phones that have almost the same functionalities like their more expensive counterparts. Some experts believe this is one for the main contributing factors towards the increase in the use of smart phones by university students. 2. Literature survey In order to understand the ownership of smart phones among university students, there is need to review the industry with respect to the different brands