The Poverty Of Capitalism, And Food Production - 1090 Words

Part 1: Hilary’s book, ‘The Poverty of Capitalism,’ questions capitalism in modern day societies and focuses on the three economic sectors of extraction, garments, and food production. The accumulation of capital has led to the impoverishment of millions of people around the world and corporations have even gained enough power to outmaneuver states (ie Vattenfall sues Germany). Capitalism is about ambition, and the wheels of production need to keep turning to keep pace with the demand for more profit. However, the cost of making the wealthy more prosperous is that half of the global south now lives in poverty. Furthermore, after the 2008 financial crisis, the G20 gave more power to the World Bank, the IMF, and the WTO to police world trade, despite how those institutions were responsible for economic crashes to begin with. Corporate Social Responsibility is also criticized by Hilary, who explains how large corporations use this hegemonic strategy as a mechanism f or expanding their reach by aligning themselves with NGOs so they can continue their exploitation of people and resources under the protection of a philanthropic name. Inequality is increasing both between and within countries and Hilary proposes that the solidarity created by the struggle for alternatives to capitalism (ie Venezuela, Ecuador, Bolivia, La Via Campesina) shows that there is hope for a new future. Part 2: Capitalism: After the 2008 financial crisis, hope for economic recovery wasShow MoreRelatedCapitalism Vs. Socialism : The Transitional Period Between Capitalism And Communism1330 Words   |  6 PagesCapitalism versus Socialism In the theories developed by Karl Marx, socialism is considered the transitional period between capitalism and communism. For a long time, capitalism versus socialism has been argued and debated. 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