Discuss the basic tenet of capitalism and how it affects the persistence of poverty
What will be an ideal response?
Feedback: The basic tenet of capitalism is that who gets what is determined by private profit rather than by collective need. The primacy of maximizing profit works to promote poverty in several ways. (1) Employers are constrained to pay their workers the least possible in wages and benefits. (2) The primacy of profit induces poverty by maintaining a surplus of laborers, because a surplus depresses wages. (3) The impact of the primacy of profits in capitalism is that employers make investment decisions without regard for their employees (potential or actual).
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