Economics and Sociology Issues - Essay Example

Capitalism may encourage the destruction of nature (ecosystem), such as forests, rivers, and lakes. According to him, nature will be destroyed in the process of industrialization. States' welfare, also, will result in to spread of moral hazards, the capitalists will dominate and rule the private economy after dominating social power. In addition, he said that completion will also be essential as complacency and old-fashioned capitalists will be doomed in the progress of sociological evolution. I can agree that he was right for most of the problems have been a result of evolution, which has even caused global warming (Löwe, 28).

Keynesian economic schools of thought differ from other schools of thought. The basics of the Keynesian theory are that the aggregate demand influences the individual’s decision-making and that the States monetary system policies can also influence the economy. In addition, the theory accepts the suggestion that the total economic spending includes those of individuals, organizations, and government, where it states that government spending can help in economic development, unlike in the classical theory (Löwe, 35). Lastly, Keynesian theory majorly focuses on short-term solutions to economic problems but Classical theory sides with long-term solutions.

In addition, Anglo-Saxon capitalism focuses mainly on shareholders and no other stakeholders or employees. Anglo-Saxon differs from Asian and European capitalism in the focus on long-term relations with the bank and a regulated state market by the government but on the other hand, Anglo-Saxon concentrate on short-term relation/profit at the expense of the long-term plan. I can say that the US is a good example of Anglo-Saxon for it does not control its market.

First I can classify the United States, Germany, Sweden, Japan, and South Korea into two broad categories of corporate capitalism and Anglo-Saxon. The US is an example of Anglo-Saxon, and other listed countries are corporates. Equally in the US, there is a free market where employers have the power to hire and fire without any government interference but the corporate government oversees all the market activities. In addition, Germany, Sweden, Japanese, and the South Korean government concentrates on the long-term relationship with the bank and they control the market activities, in contrast, the US focuses on short-term relations and has a liberalized market.

Hegel tried to explain the world in terms of nature and society, in which Marx came up with the ideology of how dynamically society changes. According to Marx, human being makes history, as they try to adjust to fit into nature. In the process, they change the nature of the best including themselves. Through these activities, human beings can produce material things, to sustain their lives. Therefore, society is made more livable and easier as human beings try to change, to satisfy their dynamic needs (Löwe, 58).