My interviewee was a family member CG , who is 48. CG grew up, and still currently lives in NJ. He received a bachelors and masters for his education. The career path he chose is in finance, specifically a financial analyst. His views and ideas are directly effected by Capitalism because of the path he chose.
How would you define capitalism?
capitalism is a system that capitalists allocate who needs it the most. It is a free market system where individuals and businesses are free to make decisions versus a social or communist system which is more government involved or planned.
What has your personal experience with capitalism been?
It is part of my job, I follow companies. I see how companies and capitalistic systems optimize their capital better. They tend to be more inventive and create technologies for an incentive of new products to sell or better ways to build their product.
Do you thinks it has been an overall positive experience?
yes.
What do you think are some alternatives to Capitalism?
Socialism and Communism. I view socialism as an in-between Capitalism and Communism. In socialism you have private enterprise but the government does playa large role in the system. The companies do not have much freedom as in the capitalistic system.
What do yo think about all the systems, do you think they would work for us or stay the same?
I like the current system, one can argue that in the last few decades there has been government regulations. Some would argue we are moving i that way with Obamacare and the aging of america. We will continue to see the government play in a larger role putting the needs of the population in versus the private sector. Could it work? yes. It takes away the drive to perform well and things like that.Most of the advances in technology has been in the US my personal belief is capitalism helped drive that.
How does capitalism influence America?
America is the land of opportunity. people come here because their other countries, and background are not limiting them. (he states he has not spoken to many people that have immigrated here) There are more limitations in other countries. People come here to educate themselves and believe opportunities are endless.The fact some many people come here is the testament to our opportunities here.
How has capitalism influenced America in the past?
The same thing people have the opportunity to create and grow businesses because of the system that is in place in this country.
What do you think are capitalism’s origins in the global and american sense?
Part of it is many settlers here originated from England and it has a capitalistic system. The whole idea of people coming here to start a new life and o what they want. Doing whatever you want includes what occupation you want to do. The first worry was necessities for families, and then population grew expanding the necessities and the market.(?)
How do you think social issues have been affected by capitalism now and in the past?
On one hand there is class struggles and that is magnified because of the opportunities here. There are people who accumulate much wealth. This can lead to conflicts amongst classes. The other issue is racial tensions, i believe that capitalism helped with that. Many issues is due to lack of understanding and education.Media is part of the problem and solution with getting information out to the masses via newspaper and television.
Are the issues still present?
Definitely, In the last five years the disparity between the wealthy and poor has grown. That is always a problem. The foundation of a capitalistic system is a strong middle class. That has become a challenge.
How do you think capitalism had changed over time ?
Ideas and things are moving faster through technological advances.There is inventions that lasted like railroads. The cycles are getting smaller because of the rate of advancement in technologies. We still use the railroads, just more for goods. We see things evolving like the PC that was the biggest commodity. Now people are using mobile phones take place of the abilities of a PC.
Do you think capitalism is a natural fit for human nature?
Yes, I think human nature is to strive to do better and excel. Be it getting a better job, or an athlete.I think it is always a human desire to perform better and have the incentive to do so. the incentive is to accumulate wealth, similar to an athlete striving to win an award.
How has capitalism been taught to you at different education levels?
As you go further you just learn more details. Middle school you’re taught the basics, the key differences between capitalism, socialism and communism. High school and College is where you learn specifics, and specific economic equations of what starts to work and detailed history of all of them.
CG looks at capitalism and our system in America as the most free and opportunistic. Our economy has struggled and he sees it first hand while comparing it to other capitalistic systems. His views are based on what he sees first hand working in a financial data position. I took away how the system works with other systems and how were only as strong as our middle class.
