DEMERITS
* Capitalism generates inequalities of income and wealth which tends to the society as a whole. * These inequalities of income and wealth leads to wide differences in economic opportunities. * Laborers get wages which are less than their marginal productivity i.e. exploitation. * Wastage of productive resources in the process of competitions e.g. the advertisement, selling expenses.. * Some capitalist system may produce a number of goods and services, which are harmful to the society. * There is large coordination due to lack of central planning; some goods are produced in short of the some other goods are produced in short of the required quantities. Having examined capitalism, its characteristics, merits and demerits, let’s now take an overview of Altruism.
ALTRUISM Altruism is the principle or practice of concern for the welfare of others. It could also be defined as an unselfish regard/concern for or devotion to the welfare of others. It is the opposite of selfishness or egoism and it involves doing for others without any expectation of rewards. According to the dictionary, it is defined as the belief in or practice of disinterested and self-less concern for the well-being of others. It is a traditional virtue in many cultures, and a care aspect of religious traditions. Altruism can be distinguished from feelings of duty and loyalty. Altruism is a motivation to provide something of value to a party who must be anyone but one’s self while duty focuses on a moral obligation towards a specific individual. CHARACTERISTICS OF ALTRUISM 1) It is not self-centered 2) It opposes selfishness and egoism 3) It seeks for the well-being of others. 4) It does not expect rewards for its help. ADVANTAGES OF ALTRUISM. We mostly gain inner benefits when practice altruism. 1) You feel good when you help people who are in bad situation. 2) When you help people, you build up a good karma or relationship so that if in case you become helpless in future, your good works will show up for you. 3) It is beneficial to the survival of our species 4) It can give people choices 5) It can level the playing field 6) It saves or helps individuals in circumstances beyond their control. DISADVANTAGES: 1. Altruism can make people over dependent. 2. You will have to deal with selfish people who take advantage of your kindness. 3. It can be expensive i.e. in terms of sacrifices 4. It lowers the recipient 5. It can propagate weakness throughout time. 6. It takes away from personal responsibilities from my point of view the advantages of altruism outweigh the disadvantages.
CONCLUSION Capitalism some who opposes altruism in the sense that incentives or rewards (profit) is one of the bases of capitalism; it is bent on profit maximization while altruism is centered on rendering help to someone without looking toward to receiving rewards for your services. Howbeit, altruism is a virtue which should be upheld by all so as to make the word a better place.
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