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An Audacious Promise: The Moral Case for Capitalism
The Manhattan Institute ^ | May 2012 | James R. Otteson

Posted on 09/11/2012 1:34:06 AM PDT by No One Special

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1 posted on 09/11/2012 1:34:09 AM PDT by No One Special
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To: No One Special

“It would be all too easy for us, among the wealthiest people who have ever lived, in one of the richest places on earth, to disdain the institutions that have enabled us to escape the strictures of poverty and disrespect that have plagued humanity for the vast majority of its existence. Our crime today, however, would lie not in our inequalities but rather in our refusal to uphold the institutions that give humanity the only hope it has ever known of rising out of its natural state of destitution.”

Money quote.

It seems that we are too quickly reaching the point of no return. Our birthright has been stolen and I can’t see the way back.


2 posted on 09/11/2012 1:56:24 AM PDT by MestaMachine (obama kills and bo stinks)
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To: MestaMachine

“Our crime today, however, would lie not in our inequalities but rather in our refusal to uphold the institutions that give humanity the only hope it has ever known of rising out of its natural state of destitution.”
...
How about:
Our crime today, however, would lie not in our inequalities but rather in our refusal to uphold the Truth of Christ on the cross that give humanity the only hope it has ever known of rising out of its natural state of destitution.”


3 posted on 09/11/2012 2:02:30 AM PDT by ImaGraftedBranch (...By reading this, you've collapsed my wave function. Thanks.)
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To: MestaMachine

I used to think liberals were just stupid. Then I thought they were just evil. Certainly those two types are abundant. But there’s another type. This type, first off, hates us — because this is what they’ve been taught. And secondly, they have no idea what our arguments like this essay are because they do not read them. These are the ones we need to get thru to by probably like “being gentle” with them or something.

Time will tell.


4 posted on 09/11/2012 2:11:07 AM PDT by No One Special
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To: No One Special

Essays like this are important because they give us the intellectual ammunition to respond to the ridiculous claims of the left, such as Obama’s statement at the beginning. But you’re right, most of these people function on emotion alone and reason has nothing to do with their dedication to socialism.

They hear the word “solidarity” -a truly meaningless word if I ever heard one - and they melt.


5 posted on 09/11/2012 2:26:34 AM PDT by livius
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To: livius
Essays like this are important because they give us the intellectual ammunition to respond to the ridiculous claims of the left

Yes, that's why I post a lot of these types. Now if only I had Milton Friedman's ability to explain.

6 posted on 09/11/2012 2:43:26 AM PDT by No One Special
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To: No One Special

Thanks for posting this. Good stuff. Bookmarked for after work.


7 posted on 09/11/2012 2:45:32 AM PDT by outofsalt ("If History teaches us anything it's that history rarely teaches us anything")
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To: No One Special

Free-enterprise/capitalism is not only moral, it is the adult economic system. Socialism is the economic system for children. A system, usually run by psychopaths, that makes children out of adults.


8 posted on 09/11/2012 2:56:44 AM PDT by driftless2
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To: No One Special

I do not think that most liberals have the capacity to understand a future based on other people’s wealth is no future at all. Their desire to satisfy their WANTS five minutes ago overcomes their sense of reality. For them, the future is nonexistent. Only today matters.
That is why so many gullible people got sucked into the system by people who told them that owning a home was their RIGHT whether they earned it or not.
The only right you are truly born with is life. Liberty depends on what you do with that life. Pursuit of happiness has become stealing from others. How to overcome this mindset is more than a little perplexing since we have absolutely refused to drain the swamp of academia and government of people who are so ‘smart’ they are stupid.


9 posted on 09/11/2012 3:08:09 AM PDT by MestaMachine (obama kills and bo stinks)
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To: No One Special

Capitalism is great system, until it is corrupted. Once a capitalist realizes that they have amassed enough power and influence, and start using that to manipulate and control markets and governments, they have become the socialists they claim to loathe and despise.


10 posted on 09/11/2012 3:52:48 AM PDT by factoryrat (We are the producers, the creators. Grow it, mine it, build it.)
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To: No One Special
Thomas Sowell: An Ecomomic 'Plan'?

Great quote from Sowell's column:

The 11.7 percent unemployment rate in 1921 fell to 6.7 percent in 1922, and then to 2.4 percent in 1923. It is hard to think of any government intervention in the economy that produced such a sharp and swift reduction in unemployment as was produced by just staying out of the way and letting the economy rebound on its own.

Bill Clinton loudly proclaimed to the delegates to the Democratic National Convention that no president could have gotten us out of the recession in just one term.

But history shows that the economy rebounded out of a worse unemployment situation in just two years under Harding, who simply let the market revive on its own, as it had done before, time and time again for more than a century.


11 posted on 09/11/2012 4:12:48 AM PDT by mc5cents
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To: factoryrat

Capitalism is great system, until it is corrupted. Once a capitalist realizes that they have amassed enough power and influence, and start using that to manipulate and control markets and governments, they have become the socialists they claim to loathe and despise.


Yeah, but should we start worshiping satan because we know that there are a few bad people who call them selves Christians?


12 posted on 09/11/2012 4:36:58 AM PDT by ravenwolf
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To: driftless2

Socialism is immoral it is force..government force..at it best if it is and act of love like the left contend then it love by force..thats rape....we have the right to say NO...and the right to say no to each other is also the right to say yes to each other...thats a free market


13 posted on 09/11/2012 4:38:07 AM PDT by tophat9000 (American is Barack Oaken)
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To: No One Special

bookmark- thanks for posting


14 posted on 09/11/2012 4:51:33 AM PDT by SE Mom (Proud mom of an Iraq war combat vet)
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To: No One Special
"Being gentle" is the problem.

Nature and Nature's God deal much more harshly with those lacking the initiative to provide for themselves than Mankind does.

The "Law of the Jungle" or "Survival of the Fittest" are simply ways of describing the harsh reality that is the way of all things on God's Green Earth.

Free enterprise is actually the kinder, gentler method.

15 posted on 09/11/2012 5:08:23 AM PDT by Aevery_Freeman (All Y'all White Peoples is racist!)
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To: mc5cents; All

Great quote from Sowell’s column:

The 11.7 percent unemployment rate in 1921 fell to 6.7 percent in 1922, and then to 2.4 percent in 1923. It is hard to think of any government intervention in the economy that produced such a sharp and swift reduction in unemployment as was produced by just staying out of the way and letting the economy rebound on its own.
///
actually, Harding was MUCH better than a “do-nothing”.
Harding immediately cut taxes, AND cut spending !!!
-
“Federal spending was cut from $6.3 billion in 1920 to $5 billion in 1921 and $3.2 billion in 1922.”
http://www.lewrockwell.com/orig4/powell-jim4.html


16 posted on 09/11/2012 6:33:21 AM PDT by Elendur (It is incumbent on every generation to pay its own debts as it goes. - Thomas Jefferson)
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To: Elendur

yet the liberal economists, “warn”,
that if we drastically cut spending,
it will CAUSE a depression!
( GDP should NOT include government spending.
government spending is a liability, not an asset! )


17 posted on 09/11/2012 6:36:00 AM PDT by Elendur (It is incumbent on every generation to pay its own debts as it goes. - Thomas Jefferson)
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To: No One Special
The moral case for Capitalism is easy: It is the free and un-coerced exchange of goods and services.

EVERY other system requires coercion.

That is all the moral case you need.

18 posted on 09/11/2012 6:47:43 AM PDT by Little Ray (AGAINST Obama in the General.)
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To: No One Special
BFL. The morality of capitalism is clear. It is fundamentally about freedom.

Similarly, the morality of socialism is also clear. It is about coercion and the desire for that which is unearned.

19 posted on 09/11/2012 7:24:59 AM PDT by zeugma (Those of us who work for a living are outnumbered by those who vote for a living.)
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To: No One Special

“The moral justification of capitalism does not lie in the altruist claim that it represents the best way to achieve “the common good.” It is true that capitalism does—if that catch-phrase has any meaning—but this is merely a secondary consequence. The moral justification of capitalism lies in the fact that it is the only system consonant with man’s rational nature, that it protects man’s survival qua man, and that its ruling principle is: justice.”

-Ayn Rand, The Virtue of Selfishness


20 posted on 09/11/2012 7:38:06 AM PDT by Raymann
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