Capitalism Is The Most Justified Economic System
Capitalism is the most justified economic system because it allows for competition and experimentation to further improve the standard of living for the public, and under the capitalist system individuals can work for their own rational self-interest while at the same time working for the greater good.
In a capitalist system individuals create wealth by producing goods and services of value and do not use arbitrary force. Have great industrialists in history earned their wealth by theft and robbery or have they instead earned their wealth by producing goods and services of value? There are many things that Marxist economic historians distort for their own agenda. What they continue to distort is the idea that business owners in this country earn their wealth by theft instead of pleasing and appealing to their consumers.
In a true free market capitalist society individuals must create wealth by producing goods and services of value. This provides a greater standard of living for the public. Is it not true that capitalists who provide higher quality and cheaper goods and services are more likely to be profitable? This is because individuals are more likely to buy the products that provide them with value.
. (Mises) History is not on the side of Marxist historians who argue that entrepreneurs create …show more content…
wealth by theft and by exploiting their workers and that America has become a wealthy nation by stealing. The wealth is made mostly by self-made men and women who take great risk when they start a business or company.
Throughout history, before the birth of the industrial revolution in the nineteenth century men did not create wealth by innovation. These individuals did not create wealth by producing goods and services of value, but instead men gained wealth by theft and conquest. It was after the era of the industrial revolution in the nineteenth century that self-made men like John D. Rockefeller and Carnegie gained wealth by providing their consumers with goods and services they wanted and needed. The reason the railroad companies were so profitable in the nineteenth century is because individuals realized it was a more efficient means of transportation then using horses and buggies to go everywhere. The truth is this positively impacted those with limited incomes because it provided these individuals access to more efficient and cheaper transportation.
(Mackey)
The exceptional thing about a free market system is that individuals can keep competing and experimenting and have the freedoms to provide the poor and middle class with even higher quality goods and services then have already been produced. It is because of the fact that individuals create wealth and produce goods and services of value that the poor in America enjoy the highest standard of living in the world among those with limited incomes, particularly competed to impoverished nations. The truth is most poor individuals in America have basic food and clothing and necessities of life, while those in poverty around the world are extremely lacking those essentials.
The exceptional thing about a free market society is that there are those individuals who have the freedom to compete and experiment in order to create new and better innovations. Is it better for a nation to use a strategy emanating from top down solutions? Are solutions better when they are centralized? The truth is solutions are better when instead they come from completion and there is room for improvement and the decisions instead come from local communities. There is a bias in this society about profit because when individuals think of profit they have in their mind individuals who only care about themselves. In fact individuals need profit in order to have incentives to improve things in our society like healthcare and education. The truth is the best solutions do not come from monopolies and centralized control. But instead the knowledge is not centralized and instead comes from local communities where individuals know the best solutions for their citizens. (Smith)
In a capitalist system you can act in your own rational self-interest and still benefit society as a whole. Individuals create wealth and have their own self-interest in creating profit but they are still benefiting society as a whole by producing goods and services of value. Adam Smith was an economic philosopher in the eighteenth century who came up with the idea of Laissez Faire economics. Under this economic system individuals have the freedom to own their own private property and to voluntarily without force enter into an agreement. Adam Smith argued that when individuals in a free market act in their own self-interest at heart it would provide greater standards of living for everyone. “It is not from the benevolence of the butcher, the baker or the brewer that we expect our dinner but instead from regard to their own self-interest “. Adam Smith. What Adam Smith is saying in this quote is that business owners and entrepreneurs do not sell us products out of benevolence but instead, because of their own self-interest -- which in the end provides greater standards of living for everyone.
An example is that if an individual owns an oil company, their goal is to make profit for themselves but they are still benefiting the public by providing consumers with a higher standard of living and cheap oil. Conclusion (Enagles)
Capitalism is the most justified economic system because a capitalist system allows for experimentation and competition to further improve the quality and efficiency of goods and services. What does this mean? This means that individuals can keep competing to improve and advance our technology. Marxism is wealth redistribution and complete control of production and prices in the market. What the proponents of this theory don’t realize is that socialism is a static system because there is no profit incentive to progress society or improve the standard of living .Karl Marx was a German economic philosopher and an intellectual who came up with idea of Marxism in his famous communist manifesto which he wrote with his colleague Frederic Eagles. An unknown fact is that Karl Marx coined the term capitalism from the free market to mean a system where the bourgeoisie would profit off of the exploitation of their workers. In this manifesto Karl Marx and Friedrich Engels explained that that there are different stages in history which include feudalism and then capitalism and then socialism, which would ultimately lead to communism. Karl Marx was a brilliant and gifted intellectual who had more flawed ideas that were too simplistic than any philosopher in history.
Capitalism is the most justified economic system in history because it is not based on arbitrary force or theft but is instead a system based on producing goods and services of value.
We have to ask ourselves this: could any wealth creator in this country really create wealth without pleasing their consumers? The answer is no because a capitalist system is based on competition and if business owners don't please their consumers they simply go out of business. Capitalism is the most justified economic system because individuals can act in their own self-interest for themselves, but their business or products can still be positively impacting the
public.
Even with all the evident reasons to support capitalism why are there so many individuals that detest capitalism? The truth is the socialist left has done so much to betray capitalism as an inherently evil system. The far left has done so much to betray those who support principles of free market economics as individuals who want to see the poor starve on the street. What those on the left fail to realize are that just because you don't favor unlimited wealth redistribution for those in need it does not make you careless! You can favor free market capitalism and support private charity to help those most in need and individuals who have lost their jobs through no fault of their own. What these individuals don't realize is it if it weren't for wealth creation and how wealthy certain individuals are there would be no philanthropy and major private charities. This is because it is mostly wealthy individuals who have the funds and resources to fund philanthropy and private charities that help those most in need.
In a capitalist system individuals create wealth by producing goods and services of value and do not use arbitrary force. Have great industrialists in history earned their wealth by theft and robbery or have they instead earned their wealth by producing goods and services of value? There are many things that Marxist economic historians distort for their own agenda. What they continue to distort is the idea that business owners in this country earn their wealth by theft instead of pleasing and appealing to their consumers.
In a true free market capitalist society individuals must create wealth by producing goods and services of value. This provides a greater standard of living for the public. Is it not true that capitalists who provide higher quality and cheaper goods and services are more likely to be profitable? This is because individuals are more likely to buy the products that provide them with value.
. (Mises) History is not on the side of Marxist historians who argue that entrepreneurs create …show more content…
wealth by theft and by exploiting their workers and that America has become a wealthy nation by stealing. The wealth is made mostly by self-made men and women who take great risk when they start a business or company.
Throughout history, before the birth of the industrial revolution in the nineteenth century men did not create wealth by innovation. These individuals did not create wealth by producing goods and services of value, but instead men gained wealth by theft and conquest. It was after the era of the industrial revolution in the nineteenth century that self-made men like John D. Rockefeller and Carnegie gained wealth by providing their consumers with goods and services they wanted and needed. The reason the railroad companies were so profitable in the nineteenth century is because individuals realized it was a more efficient means of transportation then using horses and buggies to go everywhere. The truth is this positively impacted those with limited incomes because it provided these individuals access to more efficient and cheaper transportation.
(Mackey)
The exceptional thing about a free market system is that individuals can keep competing and experimenting and have the freedoms to provide the poor and middle class with even higher quality goods and services then have already been produced. It is because of the fact that individuals create wealth and produce goods and services of value that the poor in America enjoy the highest standard of living in the world among those with limited incomes, particularly competed to impoverished nations. The truth is most poor individuals in America have basic food and clothing and necessities of life, while those in poverty around the world are extremely lacking those essentials.
The exceptional thing about a free market society is that there are those individuals who have the freedom to compete and experiment in order to create new and better innovations. Is it better for a nation to use a strategy emanating from top down solutions? Are solutions better when they are centralized? The truth is solutions are better when instead they come from completion and there is room for improvement and the decisions instead come from local communities. There is a bias in this society about profit because when individuals think of profit they have in their mind individuals who only care about themselves. In fact individuals need profit in order to have incentives to improve things in our society like healthcare and education. The truth is the best solutions do not come from monopolies and centralized control. But instead the knowledge is not centralized and instead comes from local communities where individuals know the best solutions for their citizens. (Smith)
In a capitalist system you can act in your own rational self-interest and still benefit society as a whole. Individuals create wealth and have their own self-interest in creating profit but they are still benefiting society as a whole by producing goods and services of value. Adam Smith was an economic philosopher in the eighteenth century who came up with the idea of Laissez Faire economics. Under this economic system individuals have the freedom to own their own private property and to voluntarily without force enter into an agreement. Adam Smith argued that when individuals in a free market act in their own self-interest at heart it would provide greater standards of living for everyone. “It is not from the benevolence of the butcher, the baker or the brewer that we expect our dinner but instead from regard to their own self-interest “. Adam Smith. What Adam Smith is saying in this quote is that business owners and entrepreneurs do not sell us products out of benevolence but instead, because of their own self-interest -- which in the end provides greater standards of living for everyone.
An example is that if an individual owns an oil company, their goal is to make profit for themselves but they are still benefiting the public by providing consumers with a higher standard of living and cheap oil. Conclusion (Enagles)
Capitalism is the most justified economic system because a capitalist system allows for experimentation and competition to further improve the quality and efficiency of goods and services. What does this mean? This means that individuals can keep competing to improve and advance our technology. Marxism is wealth redistribution and complete control of production and prices in the market. What the proponents of this theory don’t realize is that socialism is a static system because there is no profit incentive to progress society or improve the standard of living .Karl Marx was a German economic philosopher and an intellectual who came up with idea of Marxism in his famous communist manifesto which he wrote with his colleague Frederic Eagles. An unknown fact is that Karl Marx coined the term capitalism from the free market to mean a system where the bourgeoisie would profit off of the exploitation of their workers. In this manifesto Karl Marx and Friedrich Engels explained that that there are different stages in history which include feudalism and then capitalism and then socialism, which would ultimately lead to communism. Karl Marx was a brilliant and gifted intellectual who had more flawed ideas that were too simplistic than any philosopher in history.
Capitalism is the most justified economic system in history because it is not based on arbitrary force or theft but is instead a system based on producing goods and services of value.
We have to ask ourselves this: could any wealth creator in this country really create wealth without pleasing their consumers? The answer is no because a capitalist system is based on competition and if business owners don't please their consumers they simply go out of business. Capitalism is the most justified economic system because individuals can act in their own self-interest for themselves, but their business or products can still be positively impacting the
public.
Even with all the evident reasons to support capitalism why are there so many individuals that detest capitalism? The truth is the socialist left has done so much to betray capitalism as an inherently evil system. The far left has done so much to betray those who support principles of free market economics as individuals who want to see the poor starve on the street. What those on the left fail to realize are that just because you don't favor unlimited wealth redistribution for those in need it does not make you careless! You can favor free market capitalism and support private charity to help those most in need and individuals who have lost their jobs through no fault of their own. What these individuals don't realize is it if it weren't for wealth creation and how wealthy certain individuals are there would be no philanthropy and major private charities. This is because it is mostly wealthy individuals who have the funds and resources to fund philanthropy and private charities that help those most in need.