Capitalism is an economic system of production and distribution based on private property, universal legal equality, and freedom of enterprise. Capitalism is formed and spread either as modernization or globalization. This is how capitalism emerged in Western Europe spread and became a global economic system. History confirms that the process of capitalism and modernization are inextricably linked as if they feed each other.
Capitalism has never yet been built in a traditional society. That is why the most important feature of modernization in the 19th-20th centuries is the market economy. The changes that took place in this era undermined the foundations of traditionalism, and in the 19th century, its collapse in the advanced countries of Western Europe became quite obvious. Modernization is a complex and rather long process covering all areas of society and includes industrialization, urbanization, enlightenment, and democratization of political structures.
In the process of development of the world community, globalization, which initially emerged in the economic sphere, has gradually spread to all spheres of human life as political, social, and spiritual. At the same time, on the background of negative assessments of globalization, those corporations that produce and sell their goods on a global scale are forced to adapt their products to certain local market conditions. The process of coexistence of regional features and peculiarities amid the development of a massive global culture is triggered. Consequently, globalization develops in two directions simultaneously: at the regional level and at the level of world elites, where there are impressive integration processes and the formation of a single dominant global ideology.
Example of a capitalistic government system
The free market, oriented toward the liberalization and globalization of the capitalist economy, gives rise to various neoliberal currents. For example, capitalism institutionalizes a division of production and reproduction based on gender. Women are considered equal to men and deserve equal opportunities to realize their talents in all spheres, especially in production. Reproduction, on the contrary, is considered a relic of a backward past, an obstacle to development. The seriousness of this situation is illustrated by the process currently unfolding in the United States. Namely, the growing popularity of egg freezing, which usually costs $10,000 but is now offered for free by I.T. companies as an additional benefit for highly skilled employees. In an effort to attract and retain such female employees, companies are giving them a strong incentive to delay having children. The modern balance of family and work and the struggle for social reproduction implies more: social movements for housing, access to health care, food security and an unconditional basic income, movements for the rights of migrants, domestic workers, and civil servants, campaigns for the organization of service unions in commercial nursing homes, hospitals, and child care centers, demands for state provision of care services, for example for the elderly and children, for shorter workweeks and well-paid parental leave for mothers and fathers. Taken together, these demands are equivalent to a call for a radical restructuring of production and reproduction relations, intending to establish social norms that enable people of all classes, genders, sexual orientations, and colors to combine reproductive activities with reliable, interesting, and well-paid work.