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How Capitalism Will Save Us
forbes.com ^ | 11/3/09 | Steve Forbes and Elizabeth Ames

Posted on 11/04/2009 5:44:22 AM PST by SupplySider

We all know the Rap on capitalism: That it is fundamentally greedy and immoral. That it enables the rich to get richer at the expense of the poor. That open markets are Darwinian places where the most ruthless unfairly crush smaller competitors and where the cost of vital products and services like health care and energy are almost beyond the reach of those who need them. Capitalism has also been blamed for a range of social ills--from air pollution to obesity.

Not only have educated, successful people bought into capitalism's bad Rap, but the Rap is taught in our schools. It has molded the thinking and analyses of our most influential opinion leaders, writers, thinkers, and policy makers of both political parties. Long before the stock market meltdown, before AIG executives and automotive CEOs were being tarred and feathered by Congress, Democrats and Republicans alike regularly blamed "overpaid" executives and "Wall Street greed" for the problems ailing America's economy.

(Excerpt) Read more at forbes.com ...


TOPICS: Business/Economy; Government; News/Current Events; Philosophy
KEYWORDS: capitalism; economics; forbes
An excerpt from Forbes's new book "How Capitalism Will Save Us: Why Free People and Free Markets are the Best Answer in Today's Economy".

A simple (in the good sense), clear, and uplifting discussion of how government, not free markets, caused our current mess.

1 posted on 11/04/2009 5:44:24 AM PST by SupplySider
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To: SupplySider
We all know the Rap on capitalism:
That it is fundamentally greedy and immoral

Capitalism isn't immoral,
it is amoral

it is not caring/uncaring
it does not love/hate

it is blindly impartial to any individuals fate
It does however do the greatest good for the greatest number
relative to any other market system on Earth
That can be managed by Caesar (Government)

2 posted on 11/04/2009 5:52:05 AM PST by HangnJudge
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To: HangnJudge

Folks on the Left often talk about the greatest good for the greatest number. But they are utterly blind to the pure fact that Capitalism is the method to achieve that. No other method has ever come close.


3 posted on 11/04/2009 5:55:14 AM PST by ClearCase_guy (Play the Race Card -- lose the game.)
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To: SupplySider

I could never understand why we need so many controls on human behavior (who we marry, who we have sex with, what we ingest) becasue, well, you just can’t trust people to do the right thing. But put the same person in a boardroom, and suddenly it should be hands off.


4 posted on 11/04/2009 5:55:23 AM PST by Wolfie
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To: HangnJudge
"Capitalism isn't immoral, it is amoral"

IIRC, it was Walter Williams, in an essay I read some time back, that suggested that capitalism has an inherent morality to it because at its core, it rewards those who provide goods and services to their fellow man.

5 posted on 11/04/2009 6:01:35 AM PST by Joe 6-pack (Que me amat, amet et canem meum)
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To: Wolfie
I could never understand why we need
so many controls on human behavior

What smust be controlled is
the consequences of the behavior
Libertarians are, IMHO, correct in this regard

Who you have sex with is immaterial
That you knowingly gave then AIDS is not

Using drugs is immaterial
driving impaired is not

Killing yourself is one thing
Killing someone else another
Abortion is killing another without their consent

pissing in your own yard is immaterial
pissing in someone else's is not

Destroying yourself is between you and God
Destroying others is a matter of Governance

6 posted on 11/04/2009 6:04:18 AM PST by HangnJudge
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To: SupplySider

What kind of system can there possibly be in the absence of Capitalism?

Fundamentally, Socialism is another word for slavery. What else can you call “from each according to his means to each according to his needs”? The one with means is a slave to the one with needs.


7 posted on 11/04/2009 6:07:01 AM PST by exDemMom (Now that I've finally accepted that I'm living a bad hair life, I'm more at peace with the world.)
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To: exDemMom
What kind of system can there possibly be
in the absence of Capitalism?

The Second Coming of Christ
I suspect will bring a better system

8 posted on 11/04/2009 6:12:39 AM PST by HangnJudge
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To: HangnJudge
It's called responsibility.

And NO contemporary politician wants to insist on it.

That is why the US once prospered as a "Christian" nation.

9 posted on 11/04/2009 6:35:40 AM PST by jnsun
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To: SupplySider

Dumb stuff, capitalism is neither good are bad, it’s the people that practice it that are good are bad. Hell capitalism gave us slavery, but it wasn’t the concept it was the business people that practiced it.


10 posted on 11/04/2009 6:38:34 AM PST by org.whodat (Vote: Chuck De Vore in 2012.)
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To: HangnJudge

Immoral people can use capitalism in immmoral ways. As our society moves further and further from our spiritual Judeo-Christian foundation and heritage the worse life becomes for all of us.

“The love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.” I Tim.6:10

No truth is more evident to any mind than that the Christian religion must be the basis of any government intended to secure the rights and privileges of a free people.” Noah Webster

It cannot be emphasized to strongly or too often
that this great nation was founded, not by religionists
but by Christians, not on religions, but on the Gospel of Jesus Christ. For this very reason people of other faiths
have been afforded asylum, prosperity, and freedom of worship here. Patrick Henry

Hold on, my friends, to the Constitution and to the Republic for which it stands. Miracles do not cluster, and what has happened once in 6000 years, may not happen again.
Hold on to the Constitution, for if the American Constitution should fail, there will be anarchy throughout the world. Daniel Webster

Our constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other. John Adams

The future and success of America is not in this Constitution, but in the laws of God upon which this Constitution is founded. James Madison

[W]hen People are universally ignorant, and debauched in their Manners, they will sink under their own weight without the Aid of foreign Invaders. Samuel Adams

The foundation of national morality must be laid in private families....How is it possible that children can have any just sense of the sacred obligations of morality or religion if, from their earliest infancy, they learn their mothers live in habitual infidelity to their fathers, and their fathers in as constant infidelity to their mothers? John Adams

The two enemies of the people are criminals and government,
so let us tie the second down with the chains of the constitution so the second will not become the legalized version of the first. Thomas Jefferson

Amazing how our founding fathers knew so much and sad how little our children learn from them. My kids do so many multicultural and eco-friendly assignments that I am truly sickened by it.


11 posted on 11/04/2009 6:47:00 AM PST by killermosquito (Buffalo (and eventually France) is what you get when liberalism runs its course.)
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To: jnsun
It's called responsibility.

BINGO

Self Control
Moral Behavior
Self Love / Love of Others
Love of God

are WHAT You Are
Not Acts of the Laws of Caesar

12 posted on 11/04/2009 7:15:07 AM PST by HangnJudge
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To: killermosquito
Immoral people can use capitalism in immoral ways.

Tools are merely tools
The tool “set” of Capitalism can
be manipulated for any purpose, Good and Bad
That is why Good and Bad are so important to teach

Teach Children (and Adults) not so much
what to think as how to think

With Moral behavior , the “tools” of Capitalism will be used in
very different ways than under Immoral behavior

13 posted on 11/04/2009 10:29:46 AM PST by HangnJudge
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To: HangnJudge
I think the great feature of capitalism is that, overall, not in every instance, but overall, one is rewarded to the extent he serves his fellow man. If you can provide a better, cheaper or newer product or service for your neighbor you will prosper.

Of course what your neighbor demands and what is actually good for him may be two different things!

With collectivism, one is rewarded to the extent he deploys the barrel of a gun to his neighbor.

14 posted on 11/04/2009 11:01:44 AM PST by SupplySider
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