Saturday, April 28, 2007

A Logical Defense of Capitalism

I highly recommend reading this short article by Tibor R. Machan from Free Market News entitled "Defending Capitalism's Integrity" in its entirety.

The best portions of the article:

"Even after the demise of the Soviet system of socialism—the only type that ever aspired to be a fully consistent version of that kind of political economy, with full collective ownership of the means of production (including, as Heilbroner himself noted in his own book, Marxism, For and Against, human labor)—many keep criticizing the fully free market system of capitalism.~ Libertarianism, which is the broader political equivalent of it, also gets this criticism, namely, that it has no room for a safety net for those in dire straits, those who are helpless, indigent, needy, unprepared to deal with market processes, etc. This is the usual mantra of the critics. More extreme versions of them, of course, don't like anything about capitalism and want some kind of dreamlike fully egalitarian system where the wealth is nearly evenly distributed, even if this means the complete destruction of productivity in such a human community. Better we are all equal and poor than we are unequal and most of us quite well off, with some even extraordinarily wealthy.


"It is possible in a fully capitalist system for some to remain left out. There can be innocent hard luck cases, there is no doubt about that. What doesn't follow is that government ought to do something about this. Instead, free men and women would have to muster the resolve to lend a hand where that's needed. And it's rank cynicism to deny that they would—after all, it is precisely in semi-capitalist systems that charity and philanthropy thrive today! Furthermore, to think that such help would not be forthcoming undermines the very idea that it is used to support, namely, that democratic governments can step in and do the job. That's because such governments are a reflection of the population, if they really are democratic. Which means if the people are mean and heartless, government would be so in spades."


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