NAME: NOOR FADILLAH BINTI JAAFAR

MATRIC NUMBER: PSM0071/12

1/ WHAT I THOUGHT BEFORE CLASS?

Before going to class, I thought capitalism is about individuality. I already wrote on what
I thought in the previous assignment on what I thought of capitalism. It is pretty much the same
with free market as everybody has the right to own any property, buy anything they want, or
even set up a business and sell things to others without any restriction. People or citizens are free
to do anything in the market. Government could not intervene in this system and it is free market
centric. Privatization could relate with capitalism. The option of goods in the market has been
varied and everybody has a freedom of choice to what they wanted to buy.

2/ WHAT I LEARNED IN CLASS?

During the discussion in class, capitalism could be relates with 9 aspects. First is the
production of goods. It embraces the technology, information and exchanges ideas. Without
goods, capitalism is nothing. Second aspect is free market. It has been a part of capitalism since
the beginning of this ideology. They (the elites who is in charge of taking care the system) fixing
the price system, controlling the monetary system and managing the financial system. The third
aspect is Multinational Corporation (MNC). MNC embark the global journey, across the
continents to spread their business. We can see the prominent MNC like Nokia, Sony, Adidas
and Samsung and how they reach out to all of us via globalization. We are familiar with their
products and in fact, we are one of their customers even so. The fourth aspect is where the notion
of the rich vs. the poor occurs. This is where the creation of middle class occurred. They are
advancing in term of education and separate themselves from the poor but they do not have a lot
of money to begin with, so they work for the rich. The middle class can be called as a working
class people. The rich in the capitalism never stopped making money. They are continuously
producing goods to get money and the poor on the other hands, get stuck on the lower class of
society and producing a cheap labor for the rich. The fifth aspect is capitalism do not require any
kind of government intervention. At some points you can see that in order to achieve their
objective, theyre going to use any means and up to extend they are violating the environment

and oppressing the labor. This is why they dont want any government intervention as their ways
of handling things will be punished and things could get messy.
The 6th aspect of capitalism is monopoly. They are lobbying the government for a place
in the economy and once they have it, you can see all kind of business transfer like merger,
acquisition and partnership occurred in the market. All this business transfer is nevertheless
pointing in the same direction under the virtual umbrella of monopoly. The 7th aspect is stock/
investment/money trade which is all interrelated with capitalism. Their business are depended
vastly on this kind of trade. They (the business conglomerate) are talking about a big amount of
money. The 8th aspect is wealth. This is one of the true purposes of capitalism. The investment,
ownership, partnership has been part of capitalism. They are chasing the millions, billions and
even trillions amount of money in one day. Last but not least, the last aspect of capitalism is
slavery. Sadly, it is still exist up until now. Capitalism is one of the top contributors in the
modern slavery. The injustice, the human trafficking, the oppression of the poor and cheap labor
are all part of the negative side of capitalism.

3/WHAT I UNDERSTOOD?
The wealth creation as dr. pointed out is the term that simply defined what is capitalism.
We are driven by the desire of wanting to have a job, to own a house and even up to extent
dreaming of being a billionaire. This is capitalism has been served to all of us and chained our
souls for so long. Capitalism embrace the 4 notion which are work, own, earn and rich to make it
happens. Capitalism is ignoring the religion values and even undermine some of it. We are so
used of being a slave and labor for the big company. We kept on working and emphasizing on
the work ethics and we forgot to think and learn. We are in the era of colonization of mind, spirit
and soul. When we are not learning, we dont ask question because we dont have any judgment.
In the end, we end up being a lost person in this world and hereafter. We are wasting our times
for working and working and neglecting our obligation to religion. I did not meant we have to
stopped working, but work efficiently, divide our time equally between our work, family,
religion and ourself. It may not led us to be a billionaire but somehow the peace and calm in the
heart is so much worthy than thousand billion dollars in the account.