Market and Society Essay Example | Topics and Well Written Essays - 1000 words

Market and Society - Essay Example As such, there are various forms of capitalism, which includes state capitalism, welfare capitalism and laissez-faire (Bowles 2007, p. 41). Through the historical accounts, it is said that capitalism came into existence following the fall of feudal system and this explains its dominance in the western world in the earlier times, and now. Capitalism in this regard has been applied over a period in different geographical areas that embrace different cultures with varied political approaches (Ingham 2008, p. 34). Work in the Category of Economy in the Capitalist World In this case, work also referred to as labor, should be of significance purpose to the economy; it should be able to have a positive effect on the economic status of the society. This also explains why in the capitalist countries, there have been many endeavors to manage the labor so that the efficiency of their input can be maximized in the total output that is achieved. As explained above, capitalism is driven by the amo unt of profit, which interprets that in capitalism, work should be such that it maximizes profit for the company and should be exploited as possible for making profit be realized in the maximum possible way (Merino 2010, p. 63). Labor therefore play a major role in the capitalism economy; their purpose, and viability has to be established, as this will help in quantifying the output from every department and comparing it with the cost of hiring the labor and decide whether it is economically sound. To further explain the importance of work in capitalism, reference is made to the industrial revolution when there were many people involved in the production sector. During the industrial revolution, there were several raw materials for industrial productions that were obtained from agrarian revolution that was characterized by increased production from the farms. The western countries particularly wanted to maximize the opportunity by increasing the volume of work force and the hours in which the employees would work in a day (Silk and Mark 1996, p. 53). It will also be remembered that there were rampant child labor that was incorporated into the system to supplement labor requirement. The extent with which work was considered in the industrial revolution, which happened to have been facilitated by the capitalist, explains the rationale behind the consideration of work in capitalist system. There is a strong belief that work and economy goes together and in most cases, economy is considered a function of work and this provides adequate explanation for the situation that was presented during industrial revolution in the western countries. Work Categorized as a Moral in Capitalism With the view of capitalism considering work as a fundamental part of production for the economy to be driven, there are several ways through which work has been considered. The issue of management is geared towards the satisfaction the human resource such that they can be motivated and be enthusiastic to work for more production to be realized (Reich 1991, p. 66). In the management, several incentives are availed to the employees to enhance their efficiencies in performance and the relationship between the employee and the employer is expected to be symbiotic. This can be construed from the principal goal of the management of the human resource; a complete maximum prosperity from the employer and the employee is expected to exist. The use of ‘