Criticisms of capitalism:
* Income inequality: Capitalism leads to greater income inequality, as those who own capital and assets are able to accumulate wealth at a faster rate than those who rely on wages.
* Exploitation: Capitalism results in the exploitation of workers, who are paid low wages, work in poor conditions, and have limited job security.
* Environmental degradation: The pursuit of profit leads companies to prioritize short-term gains over the long-term health of the environment, resulting in environmental degradation.
* Short-term thinking: The focus on maximizing shareholder value in capitalism encourages short-term thinking, leading to a neglect of long-term investments in areas such as research and development, infrastructure, and the environment.
* Lack of access to essential goods and services: In a capitalist system, access to essential goods and services, such as healthcare and education, depend on one’s ability to pay, resulting in unequal access and disadvantage for those who cannot afford it.