The Study on the Dynamics of Capitalism and Human management

The Study on the Dynamics of Capitalism and Human management

Capitalism was born with industrialization. It is the state where the production of goods and services is for the market. Competition is necessary for capitalism to work efficiently. Under competitive conditions, entrepreneurs compete for the service of capital and labor. Although Koreans are proud of their historic success in economic and political development, they strongly feel that Korea may not further develop without paying proper attention to the issue on fairness. What is remaining as a stumbling block is lack of fairness in many sectors of the society. It is crucial for leaders to take the initiative and set a good example in search of a fair society. Moral leadership is in need. It is never enough to emphasize the significance of the leaders to take the lead. At a point where fair society guarantees a future for Korea, no doubt moral and practical innovation is mandatory for coexistence. Sociologist would maintain that a society maintain that a society is only cohesive if all members can identify with it and hence, a sense of belonging. In this regard, a key feature is the degree of solidarity beyond distinctions and borders. Human capital is a term that describes the productive labour embedded in a worker. In industrial societies workers work together in factories and their managers might also be in the same location. Workers are represented by unions and their wages are usually the outcome of collective bargaining.