Word Story It is easy to forget that CAPITALISM was coined not so long ago,in the mid-19th century, when

the In dustrial Revolution was in fullswing, and individual entrepreneurs were creating new industriesand amassing wealth. Terms for the other two major competingeconomic systems of the past two centu ries socialism andcommunismwere also coined around the same time. Also, aboutthe same ti me it became common to designate all such coinagesas isms: terms formed by adding the suffix -ism to a root wordin order to expand its meaning to encompass a related system,theory, or practic e. Thus from a fairly old word, CAPITAL, therelatively newer word, CAPITALISM, was formed to descr ibe thethen emerging economies of the West. (Another towering ismcoined later in the 19th centur y was, of course, Darwinism. ) On the surface, the meaning of CAPITALISM seems straightforward,referring to an economic system i n which private individuals,rather than governments, own property and businesses. Butbeneath the surface, strong currents of opinion and theory swirlabout the term. Many people fiercely espouse c apitalism as aneconomic freedom inseparable from democracy, as reflected inseveral books consid ered classics and still avidly read today: forexample, Capitalism and Freedom by Nobel laureate MiltonFriedman (first published in 1962), and Capitalism, Socialism andDemocracy by Joseph A. Schumpeter (first published in 1943). Soit may be a challenge to use the term without triggering ad iscussion of its broader poliBack to top Selected quotations The quotations which appear below contain important references to the principal themes of the play. For the context of the quotation, two page references are given. The first refers to the Penguin paperback edition, in which All My Sons follows A View from the Bridge. The second refers to the Hereford Plays (Heinemann) edition.

...what the hell did I work for? That's only for you, Chris, the whole shootin' match is for you. p.102; p.16 It's wrong to pity a man like that. Father or no father, there's only one way to look at him. He knowingly shipped out parts that would crash an airplane. p.117; p.29 You're the only one I know who loves his parents/ I know. It went out of style, didn't it? p.119; p.31 I owe him a good kick in the teeth, but he's your father. p.136; p.47 None of these things ever even cross your mind?/Yes, they crossed my mind. Anything can cross your mind! p.143; p.54 You had big principles...so now I got a tree, and this one when the weather gets bad he can't stand on his feet...p.148; p.59 Your brother's alive...because if he's dead, your father killed him. Do you understand me now?...God does not let a son be killed by his father. p.156; p.66 ...every man does have a star. The star of one's honesty. And you spend your life groping for it, but once it's out it never lights again...He probably just wanted to be alone to watch his star go out. p.160; p.70 I thought I had a family here. What happened to my family? p.161; p.70

There's nothin' he could do that I wouldn't forgive. Because he's my son ...I'm his father and he's my son, and if there's something bigger than that I'll put a bullet in my head! p.163; p.73 Goddam, if Larry was alive he wouldn't act like this. He understood the way the world is made...To him the world had a forty-foot front, it ended at the building line. p.163; p.73 We used to shoot a man who acted like a dog, but honour was real there ...But here? This is the land of the great big dogs, you don't love a man here, you eat him. That's the principle; the only one we live by - it just happened to kill a few people this time, that's all. The world's that way...p.167; pp.76, 77 I know you're no worse than most men but I thought you were better. I never saw you as a man. I saw you as my father. p.168; p.78 Sure, he was my son. But I think to him they were all my sons. And I guess they were, I guess they were. p.170; p.79 Don't take it on yourself. Forget now. Live. p.171; p. 80

tical contextCapitalism From Wikipedia, the free encyclopedia Capitalism is variously defined by sources. There is no consensus on the definition nor on how the term should be used as a historical category.[1] There is general agreement that capitalism is an economic system that includes private ownership of the means of production, creation of goods or services for profit orincome, the accumulation of capital, competitive markets, voluntary exchange, and wage labor.[2][3] The designation is applied to a variety of historical cases, varying in time, geography, politics, and culture.[4]There is general agreement that capitalism became dominant in the Western world following the demise of feudalism.[5] Economists, political economists and historians have taken different perspectives on the analysis of capitalism. Economists usually emphasize the degree that government does not have control over markets (laissez faire), and on property rights.[6][7] Most political economists emphasize private property, powerrelations, wage labor, class and emphasize capitalism as a unique historical formation.[8] Capitalism is generally viewed as encouraging economic growth.[9] The extent to which different markets are free, as well as the rules defining private property, is a matter of politics and policy, and many states have what are termed mixed economies.[8] A number of political ideologies have emerged in support of various types of capitalism, the most prominent being economic liberalism. Capitalism gradually spread throughout the Western World in the 19th and 20th centuries.[4]

[edit]Etymology and early usageThe term capitalist as referring to an owner of capital (rather than its meaning of someone adherent to the economic system) shows earlier recorded use than the term capitalism, dating back to the mid-seventeenth century. Capitalist is derived from capital, which evolved from capitale, a late Latinword based on proto-Indo-European caput, meaning "head" also the origin of chattel and cattlein the sense of movable property (only much later to refer only to livestock). Capitale emerged in the 12th to 13th centuries in the sense of referring to funds, stock of merchandise, sum of money, or money carrying interest.[17] [18][19] By 1283 it was used in the sense of the capital assets of a trading firm. It was frequently interchanged with a number of other words wealth, money, funds, goods, assets, property and so on.[17] The Hollandische Mercurius uses capitalists in 1633 and 1654 to refer to owners of capital.[17] In French, tienne Clavier referred to capitalistes in 1788,[20] six years before its first recorded English usage by Arthur Young in his work Travels in France (1792).[19][21] David Ricardo, in hisPrinciples of Political Economy and Taxation (1817), referred to "the capitalist" many times. [22] Samuel Taylor Coleridge, an English poet, usedcapitalist in his work Table Talk (1823). [23] Pierre-Joseph Proudhon used the term capitalist in his first work, What is Property? (1840) to refer to the owners of capital. Benjamin Disraeli used the term capitalist in his 1845 work Sybil. [19] Karl Marx and Friedrich Engels used the termcapitalist (Kapitalist) in The Communist Manifesto (1848) to refer to a private owner of capital. According to the Oxford English Dictionary (OED), the term capitalism was first used by novelist William Makepeace Thackeray in 1854 in The Newcomes, where he meant "having ownership of capital".[19] Also according to the OED, Carl Adolph Douai, a GermanAmerican socialist andabolitionist, used the term private capitalism in 1863. The initial usage of the term capitalism in its modern sense has been attributed to Louis Blanc in 1850 and Pierre-Joseph Proudhon in 1861.[24]Marx and Engels referred to the capitalistic system (kapitalistisches System)[25][26] and to the capitalist mode of production (kapitalistische Produktionsform) in Das Kapital (1867).[27] The use of the word "capitalism" in reference to an economic system appears twice in Volume I ofDas Kapital, p. 124 (German edition), and in Theories of Surplus Value, tome II, p. 493 (German edition). Marx did not extensively use the formcapitalism, but instead those of capitalist and capitalist mode of production, which appear more than 2600 times in the trilogy Das Kapital. Marx's notion of the capitalist mode of production is characterised as a system of primarily private ownership of the means of production in a mainly market economy, with a legal framework

on commerce and a physical infrastructure provided by the state. No legal framework was available to protect the labourers, so exploitation by the companies was rife.[28][page needed] Engels made more frequent use of the termcapitalism; volumes II and III of Das Kapital, both edited by Engels after Marx's death, contain the word "capitalism" four and three times, respectively. The three combined volumes of Das Kapital (1867, 1885, 1894) contain the word capitalist more than 2,600 times. An 1877 work entitled Better Times by Hugh Gabutt and an 1884 article in the Pall Mall Gazette also used the term capitalism.[19] A later use of the term capitalism to describe the production system was by the German economist Werner Sombart, in his 1902 book The Jews and Modern Capitalism (Die Juden und das Wirtschaftsleben). Sombart's close friend and colleague, Max Weber, also used capitalism in his 1904 book The Protestant Ethic and the Spirit of Capitalism (Die protestantische Ethik und der Geist des Kapitalismus). [edit]Economic elements Capitalist economics developed out of the interactions of the following elements. A product is any good produced for exchange on a market. "Commodities" refers to standard products, especially raw materials such as grains and metals, that are not associated with particular producers or brands and trade on organized exchanges. There are two types of products: capital goods and consumer goods. Capital goods (i.e., raw materials, tools, industrial machines, vehicles and factories) are used to produce consumer goods (e.g., televisions, cars, computers, houses) to be sold to others. The three inputs required for production are labour, land (i.e., natural resources, which exist prior to human beings) and capital goods. Capitalism entails the private ownership of the latter two natural resources and capital goods by a class of owners called capitalists, either individually, collectively or through a state apparatus that operates for a profit or serves the interests of capital owners. Money was primarily a standardized medium of exchange, and final means of payment, that serves to measure the value all goods and commodities in a standard of value. It eliminates the cumbersome system of barter by separating the transactions involved in the exchange of products, thus greatly facilitating specialization and trade through encouraging the exchange of commodities. Capitalism involves the further abstraction of money into other exchangeable assets and the accumulation of money through ownership, exchange, interest and various other financial instruments.

Labour includes all physical and mental human resources, including entrepreneurial capacity and management skills, which are needed to produce products and services. Production is the act of making products or services by applying labour power to the means of production.[29][30] Capitalism is the system of raising, conserving and spending a set monetary value in a specified market. There are three main markets in your basic capitalistic economy which are labor, goods and services, and financial. Labor markets (people) make products and get paid for work by the goods and services market (companies, firms, or corporations, etc.) which then sells the products back to the laborers. However both of the first two markets pays in to and receive benefits from the financial market, which handles and regulates the actual money in the economic system. This includes banks, credit-unions, stock exchanges, etc. On a monetary stand point governments control just how much money is in circulation worldwide which plays an immense role on how money is spent in our own country. Most of these institutes focus on a form of economics called macroeconomics which keeps its eyes on things such as inflation: the rate at which money loses its value over time; growth: how much money a government has and how quickly it accrues money; unemployment, and rates of trade between other countries. Whereas microeconomics deals with individual firms, people, and other institutions that work within a set frame work of rules to balance prices and the workings of a singular government. Both micro and macroeconomics work together to form a singular set of evolving rules and regulations. The governments (the macroeconomic side) set both national and international regulations that keep track of prices and corporations (microeconomics) growth rates, set prices, and trade while the corporations influence what federal laws are set.[31][32][33] [edit There are many variants of capitalism in existence. All these forms of capitalism are based on production for profit, at least a moderate degree of market allocation and capital accumulation. The dominant forms of capitalism are listed here. [edit]Mercantilism Main article: Mercantilism See also: Protectionism A nationalist form of early capitalism where national business interests are tied to state interests, and consequently, the state apparatus is utilized to advance national business interests abroad. An example of this is colonists living in America who were only allowed to trade with and purchase goods from their respective mother countries (Britain, France, etc.). Mercantilism holds that the wealth of a nation is increased through a positive balance of trade with other nations.

[edit]Free-market capitalism Main article: Free market See also: Laissez-faire Free market capitalism consists of a free-price system where supply and demand are allowed to reach their point of equilibrium without intervention by the government. Productive enterprises are privately owned, and the role of the state is limited to protecting the rights to life, liberty, and property. [edit]Social market economy Main article: Social market A social market economy is a nominally free-market system where government intervention in price formation is kept to a minimum but the state provides significant social security, unemployment benefits and recognition of labour rights through national collective bargaining laws. The social market is based on private ownership of businesses. [edit]State capitalism Main article: State capitalism This unreferenced section requires citations to ensureverifiability. State capitalism consists of state ownership of the means of production within a state. Capitalism is the physical work process by which wealth is created in excess of the quantity consumed in the production of it, regardless of whether that process is operated by private individuals and companies or by the government. The debate between proponents of private versus state capitalism is centered around questions of managerial efficacy, productive efficiency, and fairest in the distribution of the wealth created. [edit]Corporate capitalism Main article: Corporate capitalism See also: State monopoly capitalism Corporate capitalism is a free or mixed market characterized by the dominance of hierarchical, bureaucratic corporations, which are legally required to pursue profit. State monopoly capitalism was originally a Marxist concept referring to a form of corporate capitalism where the state is used to benefit, protect from competition and promote the interests of dominant or established corporations.[citation needed]

[edit]Mixed economy Main article: Mixed economy A largely market-based economy consisting of both public ownership and private ownership of the means of production. Most capitalist economies are defined as "mixed economies" to some degree[citation needed] although the balance between the public and private sectors may vary. [edit]Other Other variants of capitalism include:

Anarcho-capitalism Crony capitalism Finance capitalism

Financial capitalism Late capitalism Market economy

Neo-capitalism Post-capitalism Technocapitalism

[edit]. capitalism (k p -tl- z m) n. An economic system in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and reinvestment of profits gained in a free market. The American Heritage Dictionary of the English Language, Fourth Edition copyright 2000 by Houghton Mifflin Company. Updated in 2009. Published by Houghton Mifflin Company. All rights reserved. The American Heritage Dictionary of the English Language, Fourth Edition copyright 2000 by Houghton Mifflin Company. Updated in 2009. Published by Houghton Mifflin Company. All rights reserved. capitalism [kpt zm] l n (Economics) an economic system based on the private ownership of the means of production, distribution, and exchange, characterized by the freedom of capitalists to operate or manage their property for profit in competitive conditions Also called free enterprise private enterprise Compare socialism [1] Collins English Dictionary Complete and Unabridged HarperCollins Publishers 1991, 1994, 1998, 2000, 2003

Collins English Dictionary Complete and Unabridged HarperCollins Publishers 1991, 1994, 1998, 2000, 2003 capitalism a system of economics under which ownership of and investment in the means of production and distribution depends chiefly upon corporations and private individuals. capitalist, n. capitalistic, adj. See also: Economics

a theory or system in which property and investment in busines; are owned and controlled by individuals directly or through ownership of shares in companies. Cf. communism. capitalist, n., adj. capitalistic, adj. See also: Politics -Ologies & -Isms. Copyright 2008 The Gale Group, Inc. All rights reserved. -Ologies & -Isms. Copyright 2008 The Gale Group, Inc. All rights reserved. ThesaurusLegend: Synonyms Related Words Antonyms Noun 1. capitalism - an economic system based on private ownership of capital capitalist economy venture capitalism - capitalism that invests in innovative enterprises (especially high technology) where the potential profits are large free enterprise, laissez-faire economy, market economy,private enterprise - an economy that relies chiefly on market forces to allocate goods and resources and to determine prices socialist economy, socialism - an economic system based on state ownership of capital Based on WordNet 3.0, Farlex clipart collection. 2003-2011 Princeton University, Farlex Inc. Based on WordNet 3.0, Farlex clipart collection. 2003-2011 Princeton University, Farlex Inc. capitalism noun private enterprise, free enterprise, private ownership, laissez faire or laisser faire the two fundamentally opposed social systems, capitalism and socialism Quotations "I think that Capitalism, wisely managed, can probably be made more efficient for attaining economic ends than any alternative system yet in sight, but that in itself it is in many ways extremely objectionable" [John Maynard Keynes The End of Laissez-Faire] "You show me a capitalist, and I'll show you a bloodsucker" [Malcolm X]

Collins Thesaurus of the English Language Complete and Unabridged 2nd Edition. 2002 HarperCollins Publishers 1995, 2002 Collins Thesaurus of the English Language Complete and Unabridged 2nd Edition. 2002 HarperCollins Publishers 1995, 2002 here's a short preview of this essay with formatting removed for you to read Have a little read: ... In All my sons, characters often invoke money as a reason for relinquishing ideals or hopes. Comment on this statement with reference to the play. All My Sons was Arthur Miller's first commercially successful play, and opened at the Coronet Theatre in New York on January, 29 1947. It ran for 328 performances and garnered important critical acclaim for the dramatist, winning him the prestigious New York Drama Critics' Circle Award." Through All my Sons, the playwright suggests the ethnical failings of the 'American dream'. He indicates the flaw with a merely economic interpretation of the American Dream as business success alone. Miller's play also represents the failings of a capitalist society, who are willing to sacrifice idealism for economic stability. Miller not only critiques the inability of humans to make moral decisions, but a system that would encourage profit and greed at the expense of human life and happiness. Joe Keller, the protagonist of the play, is a character that has strived to achieve the American dream, and the material comforts offered by modern American life. He interprets the American Dream as merely business success alone, and in his pursuit of it, relinquishes other parts of the so-called Dream. He sacrifices his human decency and a successful family life when he issues the order for the sale of sub-standard cylinder heads. However Keller can live with his actions because he believes through the selling of the faulty plane parts, he has maintained economic stability (by keeping the business alive) and secured a successful future for his son Chris, 'I did it for you Chris, the whole dam shooting match was for you'. He has, In short, sacrificed his lifelong hopes of achieving the American dream purely for monetary success. It could also be argued that Keller sacrificed Steve, his business partner in order for the business to stay afloat. By blaming Steve for the issuing of the cylinder heads, the business was not shut down, which would have cost Joe and his family, everything. Similarly, Larry's suicide was as a result of Keller selling the faulty parts, so indirectly, he has sacrificed his son for simple economic stability. Chris Keller is described by other characters through out the play as an idealist, although we do not see this trait in action aside from his angry response to the wartime profiteering. Yet the others define him by his idealism, setting him