Capitalism is, in a sense, a financial democracy under which individuals who own and operate private business run the economy. Consumers and businesses regulate the free market through competition. Competition yields better products and more efficient processes in all fields. While it is true that monopolies sometimes form, these are combated by regulatory methods.
On the down side, as government becomes more concentrated, businesses, unions and even foreign interests are drawn to financially benefit from it through lobbyists and insiders. Combining big money and power interests with big government is not a winning combination for consumers. The bigger government becomes, the more power they amass, the less freedom we enjoy.
In a capitalist society everyone has a right to work wherever they can find a job, at any occupation they choose, live where they want to live, drive whatever vehicle suits their fancy, eat whatever food they like, and most importantly, own property.
The right to own property is central to man’s existence, giving security and a means to control our own lives. Once the right to own property is removed, any incentive to create, to rise above our condition is also removed. The drive to succeed as an individual is a strong motivating factor and in the best interest of the country as a whole. When work is uncoupled from reward or when artificial safety nets provide a high standard of living for those who choose not to work, society suffers.
In truth, capitalism has radically transformed all human affairs. Populations have multiplied, and living conditions for the immense majority of people have improved. Possession, things never before known or once conceived of as extravagant luxuries, are now customarily available to the average man. It is government’s interference in the free market that frustrates beneficial developments.
Supporters of socialism reject the economic system of capitalism as being unfair, inefficient and the ultimate cause of all poverty. They tell us that once that wicked capitalist system is replaced by public ownership, human conditions will improve; everyone will have what they need. The only thing separating mankind from this perfect state of earthly bliss is the unfairness in the distribution of wealth.
What they won’t tell you is that socialism as an economic system actually lowers your living standards by not rewarding your hard work and by making government handouts available to everyone, regardless of need.
Under Socialism, the means of production and distribution is owned collectively by a centralized government that plans and controls the economy. There is no private property. Everyone basically works for the government who decides how the wealth is distributed among the people. Instead of rewarding entrepreneurs for creating wealth, instead of rewarding you for your hard work, the government collects higher taxes to enable them to spread the wealth around. When everything is centrally controlled and diversity is nonexistent, everyone suffers. Ultimately, socialist systems are so inefficient and corrupt that labor has to be forced in order for the government to continue functioning. The failure of the USSR and other command economies proves the poverty of socialism and the failure of central planning.
Socialism does not work. Not only does it destroy the incentive for people to work, it destroys competition, innovation and creativity. Yes, it will put everyone on an equal footing – everyone becomes equally poor, equally enslaved, except for those who hold the power.
You cannot legislate the poor into prosperity by legislating the wealthy out of prosperity nor can you multiply wealth by dividing it. The idea that a capitalist society steals money from the poor is nonsense. Capitalist create money through innovation, hard work, good investments, good business decisions and properly managing assets and provide a means for anyone not allergic to hard work to better themselves.
This illusion created by the far-left progressives of “transforming” America into a utopian society is a pipe dream that has failed everywhere it has been tried.
