Capitalism vs. Socialism

CAPITALISM

  • Its foundation is the human mind, endowed by the creator. It is about discovering the unknown, creativity, and surprise.
  • Capitalism offers individuals the possibility to become wealthy, so they have the means to invent and discover new things.
  • Capitalism benefits individuals—all of them, the business owner and the worker.
  • Anyone investing in his business to earn more is a capitalist, and the engine of capitalism is the entrepreneur who takes the new, rare, and expensive and makes it abundant and cheap.
  • Capitalism requires a free marketplace without barriers to entry. Only in the private marketplace can wealth be created. Government is always an expense to the economy.
  • Capitalism has lifted millions out of poverty and despair, given them prosperity and a better life, and allowed the human spirit to soar.
  • The end result of capitalism is philanthropy or giving gifts back to society.

SOCIALISM

  • A belief that everything to be known is already known, so the job is to redistribute, with the key feature being planning. This requires a large government that then destroys wealth. Debt increases until the government collapses.
  • Socialism is about maintaining the status quo; there is no innovation or creativity.
  • Socialism promises benefits to the group, but the promises are hollow.
  • Socialism favors the worst people to rise to the top, and it always leads to tyranny.
  • Socialism has caused the deaths of one-hundred million in the twentieth century.
  • Socialism always fails because all economic decisions come from centralized planning, and one-size-fits-all economic decisions never satisfy the millions of consumers. The masses always prefer picking and choosing what meets their needs and what they can afford in a free and open marketplace.

 

Read my book, Return to Capitalism, to learn more.

William Northwall Return to Capitalism

 

 

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