Essay: William Thomson
As explained by William Thomson in his rejection of capitalist market concepts backed liberal ideals, individual pursuit of wealth encouraged by self interest is not only chaotic but creates five evils; all of which stems from the principle of competition (Yates, 2003). First, idea of market socialism fronted in capitalistic markets creates rivals rather friendly competitors as envisaged. Secondly the system ended up creating the oppression of women.
Within an individual family, the little domestic drudgery was left under the care of women. Third, was the anarchy of the market; as long as the concept of free will was to eliminate the capriciousness tastes of capitalists, the system remained a source of crises and depressions causing economic instability, massive unemployment through cost cutting machinery, wastes, and the general social suffering (see Hartmann, 2002). The wars caused the search for resources to replenish economies today serve to reinforce the real devil in capitalistic ideals (Heinberg, 2005). Fourth, the system has not only been a recipe of malfunction and numerous accidents to human life.
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