Capitalism is a force for social progress. Discuss. (Use listed Essay

Capitalism is a force for social progress. Discuss. (Use listed sources only) - Essay Example Social progress refers to improvement of the societies’ economic, social, and political structures. This can happen because of human action through social activism or as a social enterprise or as a natural part of the sociocultural evolution. Improvement in the living standards, industrialization, technological advancements are among the components of social progress. Developed countries have become richer as the years go by. Unfortunately, the social progress, which has always been the objective of social thinkers since 19th and 20th century, has eluded. The social bargain that the employees and the members of their families enjoyed the prosperity through their commitment to economic growth at mid-century has not been maintained. In America, for instance, the top 5% gain over 21% of the household income, while the bottom 5 received below 4% between them. In Britain, the difference between the rich and the poor has been greater since 19th century. The middle class families with the dream of achieving a stable career option have been directly affected by job insecurity. Similarly, the price of failure has been on the rising trend. Since 1970, the high school graduands are the first to experience low standard of living that the welfare provision for the unemployed have been stripped away. If the prospects of property are not brought by economic gro wth, the material pathway to human happiness rings hollow in the uncertainty face. There is only a smaller proportion of the society that can insulate themselves from the risk that affects other members of the society. This is not similar to majority of individual that operate within the middle wage bracket. The group stands to earn more so that they can cushion themselves from the increasing trend of survival cost. According to Friedrich Hegel, the strengths that strengthen the great nations in