Has anyone noticed that Biden has resorted to Hitlerian ranting to get his vacuous message across? He demonized Russia, Oil corporations, farmers, the GOP and blamed everybody else for the crisis his ... View MoreHas anyone noticed that Biden has resorted to Hitlerian ranting to get his vacuous message across? He demonized Russia, Oil corporations, farmers, the GOP and blamed everybody else for the crisis his policies have caused. He learned it from Obama...
Why do people put faith in Capitalism?
Because Capitalism, which has existed for tens of thousands of years in some form, has always worked.
What is Capitalism? Simply put, Capitalism is a manifes... View MoreWhy do people put faith in Capitalism?
Because Capitalism, which has existed for tens of thousands of years in some form, has always worked.
What is Capitalism? Simply put, Capitalism is a manifestation of individual freedom and rational responsibility.
Capitalism happens every time a person goes to a store and trades goods or services they possess for goods or services provided by another person. The exchange is voluntary and both parties are satisfied with the trade.
Capitalism is when a farmer has an orchard and agrees to hire somebody to pick fruit and in exchange, agrees to pay that worker one basket of fruit for every ten baskets that worker fills with fruit. The Farmer obtains several baskets of fruit to take to the market, the worker gets a basket of fruit for his own use or consumption.
Capitalism in its most basic form existed among Neanderthals over 50,000 years ago. Trading communities existed where Neanderthals traveled hundreds of kilometers to exchange manufactured goods. All this before governments were established. So we know that Capitalism existed thousands of years without government, maybe even millions of years.
Even under governments that violently opposed Capitalism, such as Communist and Nazis, stores still operated, farmers still hired workers and people still engaged in voluntary trade, and when government interfered with Capitalism, free exchanges went underground and formed Black Markets, where people obtained good and services that government restricted, controlled, or banned.
Capitalism is the very lifeblood of every society. We have seen how Communism and Socialism cracks down on Capitalism, resulting in universal poverty, shortages, and famine. Eventually, when Capitalism is restricted, the flow of cash and goods is restricted and like the Soviet Union, the economy collapses, usually along with the government.
Cuba, one of the last Communist nations, is a poverty-stricken, slave state that relies on Welfare from Socialist sympathizer nations. The store shelves are empty and goods are rationed by government, along with prices and wages…where every worker is employed by the state. The citizens are literally born into slavery. That is one option to Capitalism- A controlled economy determined by politicians who believe that know better than the common citizen.
A lot of people believe that China is Communist and their constitution supports all the ideals of Socialism… But in practice, China is one of the most Capitalist nations today. China has the least regulations for its industries and the lowest corporate tax in the world, two elements that have attracted corporations to move their manufacturing to China.
Why did China abandon Communist economic practices? Since its founding in 1949, China experienced yearly famines, literally millions starved to death due to lack of food, even after the government took over the farms across the country. The poverty rate in China was over 80%. China had few industries and was known for the production of cheap, low-quality products. In the 1980s China’s economy was struggling when the rest of Asia was prospering.
Enter: Milton Friedman. Friedman was probably the most brilliant economist in history. He could analyze an economy and not only point out its strengths but also its weaknesses. Much of the success of “Reaganomics” is due to Friedman’s advice of getting the government out of the way of the Free Market. China saw the economic prosperity in the US and invited Milton Friedman to visit and asked for his advice.
Friedman used Hong Kong’s unrestrained Capitalism as a model and example for the entire world. China took Friedman’s advice and copied the Hong Kong model in over 20 provinces across China, and China’s economy changed from strictly controlled Socialist to unrestrained Capitalist. Government operated farms were taken over by private businesses and not only did famines end but China now provides the US with 75% of its organic fruits and vegetables. Private car sales have doubled every year as China now has a huge, growing Middle Class of consumers. China embraced Reaganomics and its poverty rate is below 1%. What Socialism could not accomplish in nearly a century, Capitalism achieved in a decade.
With over 50,000 years of success, try to find an alternative with as good a record.
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