What is the role of intellectual capital for economic development?

How social Darwinism and the role it played in US economic development?

• How social Darwinism and the role it played in US economic development?

• Answer:

  It's been a very cynical process. Historically Social Darwinism has been grafted on to the basic idea of American capitalism as a simple, convenient ethos that can justify anything. Social Darwinism seems to have been a major driver, as well as philosophical and political plank for economic and social prerogatives in the US since the late 19th century. The rights of big capital, as expounded by Social Darwinism, at the expense of the "lesser" interests, particularly public,have been a hallmark of corporate policies for decades. The business and social environment created by this motif has contributed to massive changes in the society. In workforces, the workplace, and domestic economic activities, the effects of the various free trade and cheap labor methodologies promoted by current economic Social Darwinism have come home to roost. The survival of the fattest has done some real damage to equity and capital within the society, . By application, economic Social Darwinism has created the bizarre situation where corporations outweigh governments in terms of their effects on daily life and the national economy. It is unarguable that the rights of big capital do need some sort of advocacy, but it's debatable whether SD is the best or most appropriate for a nation which is based on democracy and the rule of law. It's also unarguable that the wrongs of big capital show SD in its true light. Enron was a case in point, held up by SD-like mythology in the form of market image, long after the death.