The greatest strength of capitalism is that
it actually works with real human beings,
people who are lazy, base, narcissistic, self-indulgent, foul-smelling, mean-spirited, and unsophisticated.
Capitalism does not require idyllic fictional humans in order for it to work.
Critics of capitalism tend to see the economy as a zero sum game. They believe there is a fixed amount of wealth and that wealth should be distributed evenly among everyone. When this is tried in socialist economies all of a sudden there is no wealth. In oil rich Venezuela, once a wealthy capitalist country, there wasn't even enough toilet paper under socialism. That's because wealth is created under capitalism whereas socialism discourages the creation of wealth. One of the best cases I've seen for capitalism was made by for mayor of New York, Rudolph Giuliani in an interview for the Rubin report. He said:
Yeonmi Park is a refugee from North Korea. She talks about Capitalism and Socialism in the video below.
Critics of capitalism argue that it creates a vast inequality in wealth so that a few people have most of the wealth and power while the majority are poor and exploited. In actuality there is a discrepancy in wealth under capitalism but most people living in a capitalist system are not poor. Other economic systems such as Communism in theory should equally distribute the wealth but in fact concentrate the wealth and power in the hands of a few and make most of the populace poorer than in capitalist society. There is a positive side to capitalism that you don't hear about but that you see when you go to the supermarket or the department store. There you see every kind of product provided by companies competing to provide for your needs and wishes. There is a Dunkins Donut in a train station where I go, where the service is incredibly fast and the staff is always asking the next customer, Can I help you? In Communist countries there is no incentive to be polite and to provide fast service.
c o p y r i g h t ( c ) 1 9 9 9 - 2004 Karl Ericson Enterprises. All rights reserved
Table of Contents