Assess The Role Of Capitalist Culture

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Capitalism, in basic terms, is an economic and social system in which for profit business is in private hands; instead of say, the governments hands. Adam Smith proposed that this system of economic agents working in their own self-interest to make a profit, the whole society benefits. Societies do benefit from aspects of capitalism. For example, when "economic agents" are looking to make a profit they must compete with other agents for the consumers. This competition leads to affordable prices for consumers (determined by supply and demand), production of products that consumers desire, efficient production, and incentives for firms to continue to improve and innovate products. These benefits are essential to the culture of capitalism. A culture …show more content…
The consumers role is the simply consume what the producers produce. The choices the make in consumption effect what producers produce. The consumers goal is to get the product and services they need and want at convenient price and time. Producers, obviously, have the role of producing goods and services for consumers to consume. The goal of producers is to be marketable to make a profit. The government plays a limited but important role by regulating producers, protecting individual rights, creating and implementing fiscal and monetary measures, and to support private ventures in an economy. The main goal of the government is to control and encourage the free market economy.
The relationship between consumers and producers is an important element in capitalism. Without producers, consumers would have nothing to consume and without consumers, producers would have no way to make a profit. Consumers have a lot of power over the producers. With the power to choose what to consume, they force producers to produce products and services that consumers want and at a price that consumers are willing to pay. Consumers don’t hold all the power though, producers have the power to do things like change the market price of products and
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