Recently a Facebook post from a friend that linked an article from Forbes titled, “Capitalism will starve us by 2050”. Utter nonsense. Whoever wrote that is an economic illiterate. Capitalism pays his salary it gave him a job, why don’t socialists understand this? They want to help the poor, but you need some amount of wealth to do so. Capitalism certainly has its flaws, and no doubt people take advantage of this system, however America is the second most generous country. Capitalism does not always lead to greed. Money represents freedom. The freedom to give, and spend, and save.
Capitalism will actually save us from starvation. Sure I admit on the surface, capitalism looks like it’s about self interest, but dig deeper and you’ll find that the goods and services that the free market provides benefit a multitude of people. Business A provides a job for person C, person C benefits by having a source of income, person A benefits, because he helped person C and also because he has help from person C in creating, producing or distributing a good or service that help persons B and D-Z. Think of homeless shelters that don’t rely on federal dollars, but rather on donations. Capitalism creates an environment that allows for innovation. Innovation leads to a good or service that helps everyone. Think about GMOs. We can grow food year round now. How did we get there? Capitalism. Someone had money hired researchers, found a solution, sold it to a distributor, who sold it to farmers, who sell the produce to grocery stores, who sell it to consumers.
You know what can starve us quicker than 2050? Government intervention in the markets. When production is owned by private firms who set prices for competition, there is fair prices and affordable goods. When government gets involved the prices are unfair and the service or good is at a much lower quality. Government can’t produce anything, because they have nothing, it is not there job. Government control of food and prices led to starvation in Venezuela! They had warehouses of food that was rotting, while citizens starved because their grocery store shelves were empty. I would much rather live in a country that values production, savings and consumption, that allows prices to follow market demands, then a country like Venezuela. Capitalism saves, and socialism kills.