An Essay on Michael Jordan as an Entrepreneur

Only available on StudyMode
  • Topic: Capitalism, Air Jordan, Private property
  • Pages : 3 (871 words )
  • Download(s) : 277
  • Published : May 17, 2011
Open Document
Text Preview
January 16, 2011

Capitalism is an economic system where productions are privately owned and work for private profit. Private actors in the free market make decisions regarding supply and demand investments and prices. Investors who chose to make investments profit, workers get paid wages by businesses and companies. Free-enterprise is the freedom for private businesses to operate competitively for profit with minimum government involvement. An economic system determines what to produce, how to produce, and who will receive the production. In a capitalistic society some of the characteristics are the right to own private property, freedom of enterprise (own a business), and freedom of economic choices. Freedom of economic choices means you can work if you please or not work, spend or not spend. Capitalism also comes with a lot of competition many buyers and sellers with little control over price.

Would you like to open your own business; become an entrepreneur and CEO of a company? This is a benefit of a capitalistic society. Capitalism allows citizens to control and develop factories, corporations etc. With capitalism there is no limit on what someone can profit. It provides a higher standard of living which can be bad or god however you take it. Capitalism provides the opportunity to realize dreams and desires. However in a capitalistic society come drawbacks just as there are benefits. Too much emphasis on material wealth is not good; this brings hate, greed, and many other problems. Unfair struggle for financial freedom is always a problem. All of the competition also decays spiritual values. Anyone who takes advantage of the capitalistic society will benefit from it. To be successful in the capitalism system you must first fully understand and grasp the meaning, appreciate it and then take control and put your dreams and desires in affect. Those who own businesses and corporations will benefit in a capitalistic society. If someone spends their whole...
tracking img