Tuesday 9 February 2021

Capitalism is for The People

There has never been a true free market but there have been degrees and we can measure the success in degrees. Chile is the most free market country in south america and the most prosperous (including for the poor). Estonia is the most free market of the post-eastern block countries and the most prosperous. Hong Kong and Singapore used to be as poor as Africa but became two of the richest countries in the world in 30-40 years because they became MORE free market that Europe and america. The African countries which have come up THE MOST have been those who have adopted free market policies, Ghana, Ethiopia (which had famines constantly under socialism), Rwanda, Tanzania, Botswana, etc. I only despair because I don't know how much evidence we need of the poverty-destroying effects of adopting free markets to change peoples opinion when the ideology is so fixed in their heads that socialism is "for the people" while capitalism is "for the rich." It's not true, capitalism FORCES the rich to SERVE the poor by delivering them those goods and services which THEY choose to patronize. If they don't serve the masses they don't earn a profit. If they don't improve their living standards by lowering the price of products and improving the quality of the products, someone else will come in and do it and outcompete them. Capitalism is for the people.




Usual Caveats Apply: Under the current system of capitalism we have corporations use the government to gain special privileges and bias the market, and this IS NOT for the people, etc. etc. etc. 



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