Wednesday, November 17, 2010

Capitalism... A word that is largely misunderstood.

When the rest of the world wallowed in misery, wars and striffe during the late 1800's. America grew into a powerhouse. This on the back of a Civil War. Unfortunately, this threatened the elite's control. Our capitalist system became a target and over the last 100 years America has moved from a free market economy to a government controlled socialistic model. Capitalism in common terms today is just a word used to refer to the evil and miserly rich.

However, there is a small but growing group of people that understand that freedom and liberty is a necessity to American's prosperity and that means returning to Capitalism. That starts with understanding what it is and why and how America grew from a small group of colonies to the world's greatest economic engine.



Those who believe in "capitalism" have some learning to do as well. So I'm not necessarily agreeing with everything said in this interview. For example... "Free trade" is not fair trade. In many cases government subsidies can lower the cost of producing goods and thus can create an artificial environment that can destroy competition. Thus, it is in some cases it may be that Americans need to protect themselves and their industries from unscrupulous governments and groups that would slant the playing field in their favor. However, a court system that was effective and instituted "loser pays" would probably be a much better regulating body than government bureaucrats.

The mirage of "Capitalism"



Milton Friedman on F.A. Hayek's "The Road to Serfdom"

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