What is good about capitalism?
Capitalism is morally superior - When a system of government has as its primary role the protection of individual rights, including property rights, while primarily remaining otherwise uninvolved with people’s affairs, capitalism is the result. For this reason, referring to capitalism as an economic system isn’t quite accurate. Capitalism is the economic liberty that results from political liberty. This alone puts capitalism on the moral high ground compared to the other, economically tyrannical, systems. Fortunately, the benefits of capitalism are practical as well as idealistic.
Capitalism makes everyone better off - Capitalism means free trade, free association, and free enterprise. By “free” I mean without government interference. While capitalism is the result of liberty, no government truly stays out of its citizens’ economic lives. Nonetheless, the extent to which governments allow markets to work is the extent to which livelihoods improve in general. Global poverty began to fall slowly, though at an increasing rate, starting in the late 18th century. This isn’t the result of evolution. It would not have simply happened all on its own. Poverty began to fall because people were increasingly free and able to engage free enterprise and free markets. Trade makes everyone better off. Due to their high populations, the global poverty rate plummeted when China and India began to introduce market oriented policies. While these countries are not as free as others, they are significantly freer than before, and their economies reflect this fact.
Capitalism solves global population – The global population boom is the result of our new found prosperity coupled with old world reproduction efforts. The whole world was once destitute by today’s standards. Our efforts to reproduce in abject poverty were met with high death rates for all, not least of all infants and birthing mothers. Capitalist prosperity significantly reduced our death rates before it reduced our efforts to reproduce. As a result, wealthy nations now have stable populations while poor nations continue to increase. As poor nations become wealthier, they follow the pattern of wealthy nations before them, and level off their populations.
Capitalism will likely solve pollution concerns – Solutions to our problems moving forward will have to be economically viable. That is to say they will be market friendly solutions (like LED lights). As I said, no government leaves people fully economically free, so those market friendly solutions will have plenty of government involvement for big government advocates to cheer about. But it will be their market friendly, economically viable nature that will enable them to succeed.
Well articulated points.
I would like to elaborate a little on the mechanisms that cause population to stabilize in wealthier nations.
It is more than just not needing to produce spare children for the ones who would die were the nation still poor.
In poor economies, security is only available through family, particularly sons. However, the wealthier a nation is, the more security can be built through other means. Excess income (over what is needed to survive TODAY) can be put aside in savings, insurance, capital investment in diverse income streams, and education.
The investment in education is critical. Education enables people to learn how to earn without strenuous physical labor, which brings more women into the workforce. There is a very high correlation between the rate of educating women and population stabilization or reduction.
Agreed. What you said about women reminded me of a few other important benefits I neglected to mention. Capitalism brings about increased social equality. Hierarchies based on relatively arbitrary factors such as race and gender begin to fall away under the pressure of profit motive. Money doesn’t care what your color, creed, or biology is.
I also forgot to mention the peace that is fostered between trading partners. The globalization of relatively capitalist methods has brought us the greatest era of peace in human history. Increased trade is increased peace.
The advantages "goods") of capitalism are the following:
- 1 Capitalism is run entirely on voluntary interactions. If somebody wants to charge (for labor or goods) more than you are willing to pay, then you are free to hire someone else (who will work for cheaper), purchase the item from someone else (who charges less), or do without.
If somebody wants to pay (for labor or goods) less than you are willing to accept for your labor or item, then you are free to apply for a different job or sell your item to someone else who will pay more, or remain unemployed or keep your item, and do without the money.
BOTH the buyer and seller must agree to every transaction. Provided it is a free market, unweighted by government imposed price controls, there can be no exploitation. (or the exploitation is mutual, e.g., companies exploit workers' need for paychecks to the equal degree that workers exploit the companies' need for workers.)
This requirement for agreement naturally protects the freedom and dignity of all concerned.
Because I think freedom, innovation, and choice are all good, I think capitalism is good.
- 2 - In free market capitalism, there are no artificially imposed barriers or controls to the prices. This combines with the freedom intrinsic to capitalism to encourages competition among buyers and competition among sellers. This competition results in innovation, a drive toward efficiency, and tiered pricing for various sorts of products and skills.
Moreover, the aggregate of buyers and sellers together set the market value of the various goods and services. Despite being based entirely on uncoordinated individual actions, the effect is intrinsically democratic.
Because I think democratic systems are good, I think capitalism is good.
- 3 Capitalism is in accord with what people actually are, and functions according to our innate drives, our natural tendencies, and our personal values. Nobody ever has to say, "If people would just be different, we could make capitalism happen." Nobody has to institute draconian governmental policies that force people to change in order to make it work.
Because I accept reality, and value freedom to be who I am, I think capitalism is good.
I believe “unbridled capitalism “ allows a small percentage to live extravagantly off the toil of the majority.
However- pure equality stiffles motivation and progress. It’s exactly like Yin/Yang!!! Takes BALANCE!!
Pure cronies capitalism is just like “Make It Take It Basketball “
>>. One lucky player can just take off astronomically and the unlucky never gets a second chance.. make sense?
I never liked make it take. A great shooter doesn’t need that to win
In unbridled capitalism a person with nothing more than a great deal of ambition or a great innovation can create not only great personal wealth but a steady source of wealth for many (employees). In life there is always an element of luck good or bad. I could be hit by lightning tomorrow (bad luck) or win the lottery (good luck) that doesn't make an economic system good or bad.
This is quite the persistent myth. Really, those with power and money stay in power and money. Those without, maybe a small, minute percentage will "make it". But without the tools and the facility, a vast majority will not.
Take me for example. I currently study for a PhD. Now you might say "well done, you obviously worked hard", but the fact of the matter is that I was born in a country that provides a fair and generous student loan system by the government, where there are maintenance allowances associated with that, and where people in education are (relatively, not completely) looked after in terms of living costs, available grants, and student mental health support etc. Of course there are a significant number of flaws in our system, but relatively speaking, it is excellent compared to the likes of the USA, and even more so foreign countries with poor education systems and no socialisation or government subsidy for students.
If these had not been available, the fact that I come from a working class family who by all means work very hard, but don't earn very much, would likely have made it impossible for me to pursue education.
I was lucky.
Yes, I worked hard and yes hard work is necessary to succeed in academia or the world of careers, but to say that hard work alone is sufficient for success is to ignore so many other factors that can make success extremely difficult if not impossible for some people.
Had I to pay for the high rent costs, my teaching fees, my transport, my food, my electricity and amenities, without the help of these governmental systems, I can tell you with complete certainty I would not be where I am today.
The investment by a government in socialised or subsidised efforts to better its citizens are entirely and completely worthwhile and yet they fly in the face of "unbridled capitalism", as opposed to at least partially socialised society.
The same thing, really, happens in all of the most developed countries. Those with the highest educational outputs per capita have systems of support for their students in terms of loans and different avenues to facilitate education.
It is just one example but there are many examples of instances where without some level of socialisation, furtherance of ones "success" becomes difficult to almost impossible.
Surely the rewards for investing in educating and bettering a populace are worth the comparably small cost associated with it, particularly when such people end up being the professors, the engineers, the doctors, the researchers, the innovators, the questioners, the people who find information, who send astronauts to the moon, who explore the universe, who find cures to disease, who study the mind and attempt to better our mentalities as a species, who write timeless stories and change perspectives with a piece of prose.
Surely it's worth it.
Free market capitalism, as highly valued as it is, particularly in America, is insufficient alone to allow a populace to be the best that it can be. If the only agenda is the highest profit then all manner of human requirements and values and aspirations just fly out the window. The world's aim becomes the pursuit of a dollar, and that colours every other impulse and aspiration.
I appreciate what capitalism has done for the world, but I also see the ways in which, when left unchecked and allowed to remain a creature unto itself, it has caused destruction and impoverishment, both morally and economically.
Should your Dumb Ass question the Leftist Nigger LeBron James ????????????
Total Earnings: $88.7 million
Salary/bonuses: $35.7 million
Endorsements: $53 million
James joined the Lakers last year as a free agent with a four-year, $153 million contract. The final year is a $41 million player option. His endorsement partners include Nike, Coca-Cola, Beats By Dre, Blaze Pizza and 2K Sports. James and his partners have 14 Blaze franchises open in Chicago and seven more in South Florida.
Are you opposed that the Leftist Nigger is a Capitalist ???????????????
Capitalism is a good system. It is handled by private owners. They put their money and build a party so that everyone can put their views. They have the rights to make the rules and regulations. In this way, everyone can put their views on making rules. Here, everyone’s suggestion is important. It has advantages and disadvantages also. So, we have to focus on good points so that it can be helpful for everyone’s progress. This is also an important topic in school syllabus. They should have knowledge about it. I always participate in such discussions and debates. I also write articles and blogs. You can find my examples of writing here https://buyessayukblog.wordpress.com/.
They put their money and build a party so that everyone can put their views.
Umm, you seem to be confusing capitalism with democracy. In capitalism private owners and investors make decisions about how resources and the means of production are used. There's nothing democratic about that.
we have to focus on good points so that it can be helpful for everyone’s progress.
We need to focus on the bad points so that they can be corrected for everyone's progress.
This is also an important topic in school syllabus.
I agree, I recommend studying Marx, he made some excellent points on why capitalism sucks.
agree, I recommend studying Marx, he made some excellent points on why capitalism sucks.
Indeed and his best friend the millionaire industrialist Engels fully embraced and enjoyed the very things you whine about , incidentally Engels kept his workers on minimum wage all the while when Marx and he were spouting about equality and destroying the shackles of bondage .....Marx spent half his life boozing, whoring and doing everything in his power to avoid work ( like you )
The hypocrisy of you Marxists is astounding
Marx was also covered in boils and his buddy who claimed to hate the wealthy capitalist class led the local hunt in Cheshire .....a pair or con artists of the first order
Capitalism is a good system. It is handled by private owners. They put their money and build a party so that everyone can put their views. They have the rights to make the rules and regulations.
Military fascism is a good system. It is handled by private owners. They put their money and build a party so that everyone can put their views. They have the rights to make the rules and regulations.
The scary thing is that you probably agree!!
Militarism! Here is the monstrous leech that is incessantly sucking the blood of the people and its best energy! Here is the target for our attacks! We must put an end to barbarism, proclaim that the army is now a highly organized school of crime and that it exists solely to protect bourgeois capital and profits. We must not be deterred from proclaiming ourselves international socialists. We recognize no borders and no flags, we hate all steel, every institution that exist to kill men, waste energy, strangle the advance of the workers.
As quoted in The Myth of the Nation and the Vision of Revolution, Jacob Talmon, University of California Press (1981) p. 487, Mussolini’s article, (April 11, 1909)