** economics -- capitalism

Economics: Lack of Capitalism and Industrialization

Figure 1.--This photograph shows a Greek family of five young children in Drapetsona a village outsid of Athens durinh 1959. Greece wsas not part of the European economic mircles. This is how Grreks still lived in the mid-20h century wiyhout capitalism and industrilization. You can imagine what life was like in the 19th cntury nd why Europeans stremed to America in their millions.

Both cpitalism anbd inductrialization have their critics. And they are not made up. They are very real. But this is not surprising. Any economic, political, or social system created by man is ikperfect. Man is an imperfect being and thus any sicial susren created by him will be imperfect. The question is not if capitalism and industrialization are imperfect, they obviously are. The real question is, if there is any system that is more perfect. Most of the criticisms of capitalism in particular do not honestly compare it to socialism, but rather compare it to utopia. And of course in doing so capitalism comes off poorly, but when honestly compared to socialism--the results are very different. Some 50 attemps have been made to build socialist states. All have been abject failures. Not one has created societies in which the average citizen can lead prosperous, comfortable lives. And no capitalist society had murdered peoples in the millions, in sharp contrast to the great totalitarian regimes of the 20th century--all with socialist economies. This is the discussion that Marxist-influenced professors and teachers refuse to conduct honestly. American history textbooks for exmple are full of phoyograsohs howing the difficult lives of immigrants. These are not fabrications. They are very real. But what you do not see illustrated or even discussed are two central and very obvious matters. First, if conditions were so bad in Anerica, why did people come here? Second, what were conditions like where the immigrants came from? The simple fact is that while immigrants came here for a variety of reasons, the single most important was that wages were and continue to be here are higher in America than countries where the immigrants originted. And that America offers far greater opportunity. And this continues to be the case today, which is why so many people are still voting with their feet to come to America. After President Biden opened the southern border, some 150,000 people a month are crossing that border (2021). (The United States is the only country in the world with an open border.) Another important issue not commonly addressed is motivation. The socialist criticism is evil, grasping capitalists. This cannot be dismissed which is why democracy and regulation are needed to temper capitalists. But another matter is efficiency. Capitalism is the most efficient ecomomic system and workers in a capitalist society are more efficient. This means that capitalist countries can out produce socialist countries. It is the central reason that the United States defeated the Soviet Union in the Cold War. And why the population in capitalist countries lead the most prosperous liveds.


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Created: 9:37 AM 3/12/2022
Last updated: 9:37 AM 3/12/2022