A Quote by Peter McWilliams
Capitalism is the only economic system compatible with free individuals
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Capitalism, the ogre of those protesting Wall Street, has suffered a public relations crisis in the wake of the global economic collapse. But any remedy to the systemic corruption that led to the collapse should not displace recognition that capitalism creates wealth. Capitalism, and no other economic system, has raised millions from poverty around the world.
We need to take a close look at the relationship between the economic system of Capitalism and the political system of Democracy. A democracy with high concentrations of private wealth buys votes and interferes with the ability of Capitalism to perform well. It is no longer one citizen, one vote.
This is the free enterprise system. The only place in the world that I can recall where companies never failed was the old Soviet Union. This is what investors do in free enterprise and capitalism system. [...[ And, yes, free enterprise system can be cruel. But the problem with this administration is that small businesses are the one who had suffered the most, the kind that need investors, the kinds that don't need the hundreds of pages, thousands of pages of regulations that continue to plague them and have them hold back on the hiring investment.
The alarm must be sounded because it is the economic and social system of capitalism and imperialism that prevents the urgently needed full mobilization of the potential economic surplus and the attainment of rates of economic advancement that can be secured with its help.
If capitalism worked as the socialists think an economic system ought to work, and provided a constant equality of living conditions for all, regardless of whether a man was able or not, resourceful or not, diligent or not, thrifty or not, if capitalism put no premiums on resourcefulness and effort and not penalty on idleness or vice, it would produce only an equality of destitution.
Capitalism designates an economic system significantly characterized by the predominance of "capital." Capitalism and double entry bookkeeping are absolutely indissociable; their relationship to each other is that of form to content.
The future of private enterprise capitalism is also the future of a free society. There is no possibility of having a politically free society unless the major part of its economic resources are operated under a capitalistic private enterprise system.
My belief in free competitive economic enterprise does not rest solely or even mainly on arguments of economic efficiency, though, heaven knows, these are cogent enough. It rests essentially on the view that the free market is the only safe way of ensuring that productive effort is directed towards supplying what individuals actually want, and in a way which secures the dignity and independence of the worker.
Here's what I don't think works: An economic system that was founded in the 16th century and another that was founded in the 19th century. I'm tired of this discussion of capitalism and socialism; we live in the 21st century; we need an economic system that has democracy as its underpinnings and an ethical code.
Here's what I don't think works: An economic system that was founded in the 16th century and another that was founded in the 19th century. I'm tired of this discussion of capitalism and socialism; we live in the 21st century, we need an economic system that has democracy as its underpinnings and an ethical code.
It is not uncommon to suppose that the free exchange of property in markets and capitalism are one and the same. They are not. While capitalism operates through the free market, free markets don't require capitalism.
Only in a free society do individuals have the best chance to seek virtue, strive for excellence, improve their economic well-being, and achieve personal happiness. The worthy goals of civilization can only be achieved by freedom-loving individuals. When government uses force, liberty is sacrificed and the goals are lost. It is freedom that is the source of all creative energy.
Capitalism does not permit an even flow of economic resources. With this system, a small privileged few are rich beyond conscience, and almost all others are doomed to be poor at some level. That's the way the system works. And since we know that the system will not change the rules, we are going to have to change the system.
Economic systems come, and economic systems go. No economic system lasts forever. Capitalism is not likely to last forever, either.
We do not have free market capitalism in America; we have crony capitalism. There is a huge difference between free market capitalism that democratizes a country and makes us more efficient and prosperous and corporate crony capitalism.
Only when the human spirit is allowed to invent and create, only when individuals are given a personal stake in deciding economic policies and benefiting from their success - only then can societies remain economically alive, dynamic, prosperous, progressive and free.
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