The Witty Writer

The ouroboros is an ancient symbolic expression where a snake is eating itself and capitalism is becoming the ouroboros in a modern culture but in a very different way. The fundamental concept of capitalism is profit-making where industries are being controlled by private entities rather than a state. When every form of economic ideology failed, capitalism emerged as a white angel and saved the world (everyone thought the same). As time passed, the world observed that capitalism is no more immune and it has flaws like inequality, power to selected individual, high unemployment and extreme consumption of natural resources.
Why capitalism is eating itself?
When the world accepted capitalism in a true form where it will create jobs for everyone and promised a living standard (American dream). In early days, capitalism reduced poverty and made people rich, however, private entities were not able to achieve high growth because demands had become stagnant and the cost of production increased. Then, companies went global and produced goods more than required in order to generate more profits but the income of consumers did not increase at that level hence, capitalism faced resistance. Meanwhile, capitalism evolved and started the concept of plastic money (loans and credit cards) where people can buy goods even though they did not have money in order to live the American dream. The vicious circle started and capitalism started to see dead ends nevertheless capitalism evolved and survived at the cost of the purpose of existence.
Capitalism has lifted world from chaos and provided a sound economic system which no other economic ideology could ever achieve, however, socialism has also played a major role in Russia and China to bring back the growth and they did it well. Capitalism has become a symbol of a white angel but people are able to see the dark side of it, just like in comic books where villains and heroes kill their enemies but still, the costume sales of heroes are always on the higher side.
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