Word: capitalistically
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...proven success in producing material prosperity, the ultimate justification for the system does not rest on its output of cars or cosmetics. Capitalism's fundamental rationale is that it permits and promotes freedom by enhancing the rights of the individual and limiting the power of the state. While some capitalist countries are not democracies, no Communist or totally socialist economy has remained a democracy for long. And every democracy practices some version of capitalism. The reason is clear: political freedom is impossible without economic freedom. As the British poet and essayist Hilaire Belloc noted, "The control of the production...
...state's new role as a regulator in the capitalist economy has been growing steadily for decades, but it exploded during the past dozen years. When public budgets became tighter in the early 1970s, officials
...same time, the right overall Government policies and strategies are necessary. Nobody is demanding that the state revert to the minor role that Adam Smith envisaged for it, which would not even include operating a nation's canals. All capitalist countries have mixed economies that combine some free-market features and some government controls, depending on practical needs, tradition and political trends. But there are sharp new questions about the mix. Says Jan Tumlir, chief economist of the world trade organization GATT (General Agreement on Tariffs and Trade): "The 1980s must be a period of rethinking the functions of government...
...this century opened a conflict between contemporary social values and economic virtues. Capitalism still needs savings, hard work and postponed rewards, but consumers want immediate satisfaction. This conflict is visible within the business corporation itself. Writes Sociologist Daniel Bell in The Cultural Contradictions of Capitalism: "In the world of capitalist enterprise, the nominal ethos is still one of work, delayed gratification, career orientation, devotion to the enterprise. Yet, on the marketing side, the sale of goods, packaged in the glossy images of glamour and sex, promotes a hedonistic way of life whose promise is the voluptuous gratification of the lineaments...
...poor, handicapped and racial minorities can feel particularly isolated within affluent capitalist societies. Poverty and urban decay like New York's South Bronx are an outrage to any nation or economic system. The U.S., of course, has tried to solve such problems. Social spending is now by far the largest item in the national budget, amounting to $423.8 billion this year as compared with $145.1 billion for defense. But some well-intentioned Government spending, such as the $8.6 billion annual outlays for the heavily criticized Comprehensive Employment and Training Act (CETA), has created new bureaucracies rather than solving urban problems...