Research Outline Essay
Research Outline Essay
Capitalism is a financial system in which private individuals or firms possess capital commodities. The creation of goods and services is based on the demand and supply in the market economy. Capitalism is a significant driver of innovation, wealth creation, and prosperity (Ranaldi, 2021).Competition and capital accumulation incentivize businesses to maximize efficiency hence capitalizing on profit growth by allowing consumers to enjoy lower prices on varieties of goods. On the other hand, economic inequality refers to how economic variables are distributed among individuals in a population or among countries. While Capitalism is an economic system that thrives on capital competition, it relentlessly worsens wealth and income inequalities. The purpose of this paper is to outline the relationship between Capitalism and economic inequality.
The Importance of the Topic
The relationship between Capitalism and economic inequality is a significant component for understanding the social-economic paradigms of the society in terms of holistic societal and human development. As such, understanding the pertinent issues and correlation between the two aspects of human life and activities is core to harnessing critical knowledge critical for mitigating the impediments brought about by either Capitalism or posed by economic inequality to spur the sociological development of the society. The sources of ideas and information to be explored in the quest to unpack the relationship between Capitalism and economic inequality will be provided under two sub outlines, namely:
The Outline- Capitalism
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In the research, we shall underscore (1) The theoretical definitions and concepts of Capitalism as understood in the field of sociology (2) Classical and modern capitalism concepts (3) Understanding the nature and causes of the wealth of nations in the light of Capitalism (4) The advantages and disadvantages of Capitalism and (5) The Impact of the West capitalistic dominance on the South and the mitigation measures advanced against Capitalism by the South.
The Outline- Economic Inequality
The research will tentatively explore economic inequality’s theoretical definitions and concepts and shed light on economic inequality’s traditional and modern understanding. Similarly, it will seek to comprehend the nature and causes of economic inequality among nations, focusing on the West and the South Economic blocs inequalities as engineered by capitalism (Giordono et al., 2019). In addition, it will seek to give a concise summary of the correlation between Capitalism and economic imparities and the impact of economic inequality on social-economic development.
In summary, the essay will underscore Capitalism, an economic system that thrives on completion for capital items and services based on demand and supply. In addition, it will highlight the competition and capital accumulation as a concept used to incentivize businesses to maximize efficiency that the system operates on the saying: each for himself and God for us all in terms of wealth acquisition. The economic system allows individuals to capitalize on profit growth and avails consumers to enjoy lower prices on a broader range of goods. Therefore, inequality in Capitalism is understood by the outcome of competition between free and equal individuals with equal opportunity of time syllable but unequal economic capital. The concepts shall be considered under the two sub outlines of Capitalism and economic inequality.
Giordono, L. S., Jones, M. D., & Rothwell, D. W. (2019). Social policy perspectives on economic inequality in wealthy countries. Policy Studies Journal, 47, S96-S118. https://doi.org/10.1111/psj.12315
Ranaldi, M. (2021). Income composition inequality. Review of Income and Wealth. https://doi.org/10.1111/roiw.12503.
your only needed to write an Outline not the whole research paper
1. Choose Your Topic out of the listed option please check documents for the topic and extra understanding
You should make your choice of topic fairly soon. Try to pick something you’re actually interested in. The topics are broad and you are at liberty to approach them as you please. So, finding something shouldn’t be hard. If, however, you are eager to research something that is not on the list, let me know. I’ve been teaching in postsecondary institutions for 55 years and have never yet turned down a student proposal based on some authentic interest. This project should be a “labour of love” and not a burden.
2. Write an Outline
The outline should be about 500 words in length and should describe what you propose to write about including some idea of what questions you intend to ask and answer and/or what issues you plan to address, why you think your topic is important, and what sources of ideas and information you expect to explore,