Das Kapitalism!

We hear a lot these days — even before all the ‘Occupy Wall Street’ nonsense — about the evils of capitalism. They say it is inherently corrupt, immoral, selfish, unfair, and brutal. It’s based on pure greed and exploitation. People are by nature imperfect and selfish, some more than others, so anywhere you have unscrupulous individuals – especially when involved with big government or humungous business you will have corruption, greed, immorality, and people doing things that you never even thought they were capable of doing.

This reckless extravagance at the cost of others is not new by any means. In fact, when designing a country and how to govern it, this notion of decadence for pleasure was forever on the Founders’ minds. Indeed in a letter from Samuel Adams to James Warren in 1779 (prior to America being America) Mr. Adams warns:

 “A general dissolution of principles and manners will more surely overthrow the liberties of America than the whole force of the common enemy. While the people are virtuous they cannot be subdued; but when once they lose their virtue then will be ready to surrender their liberties to the first external or internal invader…” Samuel Adams in letter to James Warren 1779.

But a democratic, free-enterprise, capitalist system is by its nature the best economic system conceived by man. It provides the freedom and opportunities to make “the pie” bigger and allows anyone to participate. Everyone benefits from the new and/or improved products and services that are developed, from time-saving devices to life-saving drugs.

It encourages entrepreneurship and business growth, which creates more jobs. On the whole, everyone’s standard of living improves. Or, as some like to say, “A rising tide lifts all boats.” (That’s why America’s poor often have air conditioners, microwaves, and cell phones.) And I don’t just mean here in the U.S. and other Western nations.

Furthermore, it would appear as those who are participating in the “Occupy” movements have not done much traveling – or at the very least they could face up to the notion that even the lowliest and poor person within the capitalist system is going to be better off realistically than any other economic system.

Indeed it may be easier to get on the dole or government subsidies in other economic systems such as socialism or especially democratic socialism such as in Australia. However, those who are working paying taxes aren’t very happy with those who have that empty palm-up for donations or the official business practice of bartering which is legal in both the USA and Australia. All well and good until you want to send a letter via snail mail. The cost of postage in Australia ranges from 68 cents upwards of 1.20 for personalized postage.

To assist in this description and to add a little weight to my claims, I’d like to borrow some authority from someone who knows a thing or two about capitalism. So, here is an excerpt from the Introduction to How Capitalism Will Save Us, by successful businessman Steve Forbes and Elizabeth Ames:

“Until the credit crisis, tens of millions of people a year worldwide were joining the middle class. Between 2003 and 2007, the growth of the American economy alone exceeded the size of the entire Chinese economy. We grew the equivalent of China in four and a half years. China’s growth rates are higher — but they’re coming from a much smaller base.

Free-market economic reforms — especially since the fall of the Berlin wall — have brought an unprecedented explosion of wealth to India, China, Brazil, and nations in central and eastern Europe as well as in Latin America and Africa. Capitalism has helped to usher in an era of wealth and economic growth that failed foreign-aid programs since World War II were never able to accomplish. In China, for example, over two hundred million people now have discretionary income. The country has a burgeoning middle class. The current recession should be seen historically as an interruption, not an end, of this extraordinary economic expansion.”

Admittedly we find it obnoxious to try and understand those who are in a far better position that say your average Chinese person, or anyone in Southeast Africa espousing how bad something is from the hibachi of their latest posh nylon tent.