Capitalism

Definition

Capitalism is an economic system characterized by private ownership of the means of production and the operation of these goods for profit in a competitive market. This system encourages individual entrepreneurship and innovation, leading to economic growth but also results in significant social inequalities. The relationship between capitalism and societal values often raises questions about the moral implications of wealth accumulation and the pursuit of success.

5 Must Know Facts For Your Next Test

1. Capitalism emerged as a dominant economic system during the Industrial Revolution, transforming economies from agrarian-based to industry-driven.
2. In a capitalist society, success is often measured by wealth accumulation, leading to a culture that values competition and individual achievement.
3. Arthur Miller's works often critique capitalism by highlighting the struggles of individuals who chase the American Dream, revealing the darker sides of this pursuit.
4. Capitalism can create significant disparities in wealth and power, raising ethical questions about opportunity and privilege in society.
5. The American Dream, often idealized in capitalist societies, promotes the belief that anyone can achieve success through hard work, although many face systemic barriers.

Review Questions

• How does capitalism influence character motivations and conflicts in Arthur Miller's social dramas?
  • In Arthur Miller's social dramas, capitalism deeply affects character motivations as individuals strive to achieve success and attain the American Dream. Characters often face conflicts arising from societal pressures to succeed financially, which can lead to moral compromises and personal failures. For instance, Willy Loman in 'Death of a Salesman' embodies this struggle as he grapples with his dreams versus harsh economic realities, illustrating how capitalism shapes human relationships and personal identity.
• Discuss how Miller portrays the consequences of capitalism on family dynamics in his plays.
  • Miller portrays the consequences of capitalism on family dynamics through characters who become alienated from each other due to financial pressures and unrealistic expectations. In 'Death of a Salesman,' Willy Loman's obsession with success leads to emotional distance between him and his family. His relentless pursuit of wealth creates conflict and disillusionment within his household, highlighting how capitalism can strain familial bonds and create an environment filled with disappointment and regret.
• Evaluate how Miller critiques the notion of the American Dream within a capitalist framework through his works.
  • Miller critiques the notion of the American Dream within a capitalist framework by exposing its inherent contradictions and unattainable nature. In plays like 'Death of a Salesman' and 'All My Sons,' he illustrates how the relentless pursuit of success can lead to personal tragedies and societal failures. By showcasing characters who chase dreams only to face disillusionment or moral dilemmas, Miller reveals the darker side of capitalism where success is not guaranteed, questioning the validity of the American Dream itself in an uneven playing field.

Related terms

free market: An economic system where prices for goods and services are determined by open competition between businesses, with minimal government intervention.

socialism: An economic and political system where the means of production are owned or regulated by the community as a whole, aiming for a more equitable distribution of wealth.

bourgeoisie: The class of people in capitalist societies who own the means of production and are often contrasted with the proletariat, or working class.