Capitalists have a bad moral reputation. People see them as bad because their economic theory is based on self-interest. Even thought I am an unrepentant capitalist, I totally agree many people who are capitalist are not good moral humans and lack love and compassion. Further, many are just plain jerks and think this economic system is some new-found religion and are rigid in their thinking.
The rich are stereotyped as greedy and heartless because of large amount of earnings they make and yet no clear value to society. They are almost seen as parasites off the sweat of others. However, this is where people get confused. Capitalism itself is not bad, nor are all capitalist. Capitalism is good. People confuse capitalism with corporate America and do no consider the alternative socialism for what it is, fake.
Jealously is the cause of people thinking capitalism is bad, not compassion
People think capitalist lack compassion and an alternative system like socialism will bring more peace and justice to the world. In fact people think they are better people just believing in anti-capitalism. Wrong. The real poverty in the USA is a spiritual poverty, not material poverty. The poor in America would be the super rich in most places in the world. If you think capitalism is wrong, live in a post-communist country for a few years.
Socialism capitalism’s alternative
- I live in Poland a post communist country. How many anti-capitalists do I meet here? Hmm none, well one but she is American and rich. Polish people know socialism is all fake. It is the government and those in power taking power from the productive.
- Capitalism has transformed the world I live in from poor to rich. Not just some people most people. What about the poor? The poor live better than they did under socialism.
What about greedy capitalists? You know what, some people are. Really they are heartless people. But most people who make a lot of money give a lot to charity and are kind gentle people. I know, I lived around them most of my life growing up in preppy Connecticut. They are not rich and greedy, rather they are rich and live very modestly. Look at Warren Buffett he practically wears the same shoes he was married in, and did not he and Bill Gates give away all their money basically?
People fill their heart with resentment towards capitalist because they feel somehow when someone else wins someone else must lose. The reality is life is not a zero sum game. To understand and meditate on what this means is important. It means that when someone wins someone else wins. Always, except in extreme cases.
Who is bad in the capitalist world?
I would say large corporations are pretty scummy. I am an unrepentant capitalist, but I believe that corporate America does not uphold the ideals of Adam Smith. Adam Smith was a moral philosophy and believed in enlighten self-interest, not Ayn Rand selfishness. It is too complex to explain in a short post, but there is a big difference from being a capitalist and working for working for corporate America. A capitalist is creative and risk taking and wants to add value to a society. Corporate warriors are more about a paycheck and bonus, two different things.
Next time you ask the question is capitalism good or bad, consider the capitalist vs the large corporation (corporate socialism). Consider Capitalism like we have in free America and the socialism that Poland or Russian had during communism. I think you will see the answer that capitalism is not bad at all.
What capitalism does
It allows you to express yourself and give you the freedom to choose. It does not promise to make everyone equal, but rather lets you decide what you want to do with your life. Is capitalism bad? No. Self expression does not sound too bad to me. This means, whether it is is setting up a yoga school or writing a book or being a electrician like Lech Wałesa.
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2 responses to Is capitalism bad?
Capitalism and minimum wage in the USA
I feel your are totally correct on capitalism. I enjoy the competition that capitalism gives you the ability to compete with the undying market. I also agree with you about corporations they do have no self regard for others. For instance look at walmart an average income for someone other than a Manager gets about 9 dollars an hour. There is one thing you left out in your rant, you left out the minimum wage topic. The reason why these corporate ceo’s can get away with underpaying employees is because minimum wage is only 7.50 an hour. America has to low of a minimum wage and that is a major issue. I’m not taking Corporate off the hook alot of corporations health benefits and dont take care of their crew. I also feel some people have a unfair advantage in coming up the corporate ladder with being born into a rich corporate company.
European social state or Capitalism but not just spending
I am living in EU and people are shocked how low the minimum wage is in the USA. They ask how can Americans afford to live, added to the fact that University, medical care and retirement is not paid for by the goverment in the USA.
I also agree I see corportate families etc, but this is not the rule more the exception.
The reason capitalism seems unfair in the USA is because we do not really have it. We have a large industrial military complex and social state that does not directly benefit the average guy.
Americans pay the same level of taxes if not more than the European social states but do not get the benefit.
If the USA had real capitalism the average worker would get paid a lot more than today as excess government regulation and hidden taxes reduce margins.
The unfair amounts that management gets paid is relative. Someone else’s wealth should not affect your happiness, it is unfair, but the main question is what are you personally going to do about it to increases your wages.
So I think capitalism works for everyone, not just the rich, but it does not work when government creates spends more than it has.
It drains productive energy from the average person by crowding out private investment.
Either have a European social state or be capitalistic but what we have not is something strange. That is taxes, spending, bailouts, debt,and inflating the currency but no benefits like Europeans.
I vote to try capitalism again as it made this country rich (citizens).
Ron Paul would be for repealing the income tax for example.
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