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3 December, 05:37

What was a negative consequence of industrial capitalism?

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  1. 3 December, 05:53
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    Some people criticize certain aspects of capitalism that, according to these critics, can be solved without abolishing capitalism.

    The existence of an unequal distribution of wealth and power is criticized. Many Social Democrats want to reduce income differences through, for example, progressive income tax. According to these critics, very large income inequality is undesirable because of the negative consequences for social cohesion. "Wage slavery" is generated in this way, in which employees, although they are paid, have very low salaries, which only allow them to subsist to continue working and generating wealth for employers.

    Companies concentrate on profitability, which according to critics leads to unsustainable behavior. For example, it is more profitable to have products produced in countries with low wages, with these being sold in richer countries. This requires a lot of transport and therefore more emissions, which could be prevented by producing goods in the vicinity where they are consumed.
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