1. Capitalism - Force of Social Change
All progressive changes brought by capitalism ultimately influence the social lives of people, in this case improving the living standards. ... In that sense, low cost of labor (lower wages and salaries) increases profitability. ... The second change was the formation of a truly global capitalist economy influenced by the rise of Asian economies (Japan, Korea, India and China) and re-emergence of market economies in Eastern Europe and Russia after 1989. ... It created a conducive environment for the growth of emerging global capitalist economy. ... True to their efforts, today they still remai...
- Word Count: 1750
- Approx Pages: 7
- Has Bibliography
- Grade Level: Undergraduate