Human beings make civilization, and this makes us unique among our counterparts in the Kingdom Animalia. Within our civilization, there are ways of generating our needs and requirements. The economic systems defined in our societies depend on how the social systems have been established, and the history surrounding our societies. I have a great passion for socioeconomic theory of capitalism. Due to the influence of education and mass media, I realized how capitalism can benefit societies in the modern world.
Although there are several drawbacks associated with the way capitalist economies perform, which are based on individualism ideas, it is the best way for societies to achieve their socioeconomic goals. It is therefore arguable that capitalism is not only the best way to drive economic systems, but also the best way in which societies can realize their potential.
The corporate and private ownership of the means of production defines the major areas of the socioeconomic system in capitalist societies. It does not mean that the state should not own the means of production, but it requires that we separate the state from the economic system to some extent. Therefore, capitalism is the system of economy in which people strive to get profits through the utilization of the available means of production, and in which the free market system is highly regarded. The state should not be allowed to control the market system; rather, the forces of supply and demand ought to be the governing factor in markets. Since it is a fact that the state is influenced by political powers, individuals with political powers could easily manipulate socioeconomic systems if capitalism was not allowed to take effect, just as it happens in socialist economies, most of which have either fallen or have to adapt major facets of capitalism. The system could allow the state to enter into business, but through corporate and other organizations, and in this case, compete with individuals and other corporate organizations, thus reducing monopolies and increasing not only the rate of production, but also the quality of goods and services in our societies. As far as I am concerned, and as the reality stands, the capitalist system of economy has increased the volume of production, the quality and efficiency of the production system, and of importance, the economic growth of the societies which adopted the system. In addition, capitalism has promoted democracy in every sector of production, as well as political democracy.
It is a fact that for any society to develop, people have, and hold to different ideologies, but which are thought to improve the way of living. Agents of socialization have been the leading contributing factor towards the formulation, establishment, development and application of socioeconomic and political systems throughout history, and more so in the contemporary society. Education system and the mass media has been the most effective agents of socialization in my society, and has played a significant role in strengthening my belief in the advantages of capitalism socioeconomic system. Through the education system, one is able to get the independence of gaining knowledge and distinguishing the truth from mere propaganda. For instance, it is through the education system that we gained formal cognitive skills such as writing, reading, arithmetic, history and geography. The education system provided us with the basics in which we could study all the social, economic and political systems which have been applied in the past, those which are in use in different states today, and as such we are able to find facts and figures. It is therefore easy to determine which system of the economy is suitable for our societies, and in this case, I have learnt that capitalism is the gold standard system through which our society has developed from its past primitive form to the modern technology based system.
In addition to the education system, the mass media has been another force that has helped us realize the good from the bad. Most of our modern media system tends to influence the people in one or more ways, be it politically, economically, and socially in religion. However, they provide us with almost any information they gather from the actual filed, and even go beyond our reasoning scope to include ideas from other areas. Mass media utilizes our cognitive abilities in listening, seeing and interpretation to convey the messages. Although mass media provides us with a lot of information, some of which supports different economic systems, we are able to analyze and determine that capitalism economic system is the sole system which has improved our societies.
In conclusion, the economic system adopted by any society determines how far and in which direction will the society take towards achieving its goals. Capitalism has been the major contributing factor of world super economies, and as such we are at a better position to recognize its usefulness in our societies. As described above, capitalism promote self reliance, active participation in the production system, increases the value, level and means of production, and of importance, promotes democracy in all sectors, from political to social and religious systems. The education system and the mass media play the most crucial role of eliminating ignorance and creating self reliance in our societies. Through education, people get the facts on which political, socioeconomic or religious ideology is suitable for them in regards to the prevailing conditions. Through mass media, we are able to get the information and analyze by ourselves and conclude which ideology is suitable to our social systems.