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Kit2525
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Capitalism, or more specifically, the Free Market System’s humanitarian value is primarily that it betters the welfare of the poor by creating system for the widespread creation of wealth. Just look at the countries that adopt Free Market Systems (the west) and those with Communist/Hard socialist systems such as Soviet Russia, Mao’s China, and modern North Korea.
The wealth disparity is huge. Even so-called “Socialist” countries in the West such as Sweden allow for massive free markets -though it has a large welfare state.
Today’s Middle Class household lives in luxury and comfort equal to or greater than the Pharaohs and Kings of old.
Example: If Pharaoh Ramses wanted some cool air he had to get 2 or more slaves to fan him with large feathers or if King George III wanted some music he had to bring in a group of court musicians. Ramses had to take his servants everywhere he went if he wanted to remain cool constantly and for King George, moving an entire quartet, let alone an orchestra perfuming a concerto, was difficult if not outright impossible.
Now, if we want to be cool we can turn on the air conditioner or, if outside, buy one of those neat little “spray-fan things”. And with the iPod you can take an entire Orchestra with you.
And most cell phones allow you to carry the equivalent of a phone, a watch, an alarm clock, and a computer in your pocket anywhere. Just think how much this saves in packing for an overnight trip!
In fact, the poor of today live much better than the poor of 100 or 200 years ago. And this isn’t because of government welfare, but because the free market system has developed ways to produce better goods cheaper and more efficiently than ever before. And while I am not saying poverty is good or easy what I am saying is that the poor of today are better off than they would have been centuries ago.
Now, as for greed.
For Free Market supporters in the Classical Liberal mold such as Adam Smith, F.A. Hayek. Milton Friedman, and Thomas Sowell today acknowledge greed and the human’s inclination to look after their own self-interest or the self-interest of their families exist.
But it should be noted that this exists in EVERY system. Everyone has the natural inclination to act in their self-interest. People everywhere do this whether he is a businessman or a bureaucrat.
What a Free Market does is, instead of trying to eliminate this impulse, is try to channel it in a way that it helps society or does the least harm.
In summary, here is a quote by Milton Friedman:
“What kind of society isn’t structured on greed? The problem of social organization is how to set up an arrangement under which greed will do the least harm; capitalism is that kind of a system”
And Adam Smith: “It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own self-interest. We address ourselves not to their humanity but to their self-love, and never talk to them of our own necessities, but of their advantages”
The wealth disparity is huge. Even so-called “Socialist” countries in the West such as Sweden allow for massive free markets -though it has a large welfare state.
Today’s Middle Class household lives in luxury and comfort equal to or greater than the Pharaohs and Kings of old.
Example: If Pharaoh Ramses wanted some cool air he had to get 2 or more slaves to fan him with large feathers or if King George III wanted some music he had to bring in a group of court musicians. Ramses had to take his servants everywhere he went if he wanted to remain cool constantly and for King George, moving an entire quartet, let alone an orchestra perfuming a concerto, was difficult if not outright impossible.
Now, if we want to be cool we can turn on the air conditioner or, if outside, buy one of those neat little “spray-fan things”. And with the iPod you can take an entire Orchestra with you.
And most cell phones allow you to carry the equivalent of a phone, a watch, an alarm clock, and a computer in your pocket anywhere. Just think how much this saves in packing for an overnight trip!
In fact, the poor of today live much better than the poor of 100 or 200 years ago. And this isn’t because of government welfare, but because the free market system has developed ways to produce better goods cheaper and more efficiently than ever before. And while I am not saying poverty is good or easy what I am saying is that the poor of today are better off than they would have been centuries ago.
Now, as for greed.
For Free Market supporters in the Classical Liberal mold such as Adam Smith, F.A. Hayek. Milton Friedman, and Thomas Sowell today acknowledge greed and the human’s inclination to look after their own self-interest or the self-interest of their families exist.
But it should be noted that this exists in EVERY system. Everyone has the natural inclination to act in their self-interest. People everywhere do this whether he is a businessman or a bureaucrat.
What a Free Market does is, instead of trying to eliminate this impulse, is try to channel it in a way that it helps society or does the least harm.
In summary, here is a quote by Milton Friedman:
“What kind of society isn’t structured on greed? The problem of social organization is how to set up an arrangement under which greed will do the least harm; capitalism is that kind of a system”
And Adam Smith: “It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own self-interest. We address ourselves not to their humanity but to their self-love, and never talk to them of our own necessities, but of their advantages”