Sunday, February 1, 2009

Capitalism Shown At Its Best In This Economy

Capitalism: An economic system in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and reinvestment of profits gained in a free market (

Capitalism is the basis for the pursuit of happiness laid out in our founding documents. The idea that hard work will ultimately pay off drives America’s economy. Capitalism has allowed the United States to become, in a relatively short period of history, the most powerful, wealthy, and advanced civilization the world has ever seen. Because of capitalism, the United States has also become the greatest force for good around the world, second to none.

But this economy has given pause for many to ponder the value in our capitalistic system. President Obama and his democratic conspirators have seized upon this weak economy to promote a socialist agenda, having recently passed the massive spending bill in the House; this after promising to bring government deficit spending under control. The president cites greed in corporate America as the culprit and fiscal irresponsibility on the part of government (again, how is this latest stimulus package not fiscal irresponsibility?). President’s Obama takes every chance he gets to talk down this economy, setting the expectation that he will deliver on his campaign promises to a minimum and paving the way for more social government programs, all in the name of saving the economy and playing on your fear.

There is no question that the economy has put many American families in hard times, and that needs to be addressed. However, I want to preset the argument that the troubled economy of the past year proves that capitalism always works.

Not only does capitalism pay hard work and determination, favoring those who put in the hardest effort and take the greatest risks, but it also punishes greed. Those who invest widely in the market, like casino gambling, find themselves losing to the house. Corporate greed is a textbook example. Mortgage companies, willing to dole out sub prime mortgages as politicians do kisses for babies, have found themselves losers in the capitalistic system. You see, capitalism punished America’s greed. Government, corporate, and individual greed and irresponsibility were rampant across America, and so the downfall has been equally widespread. In a system other than capitalism, the greed and irresponsibility may continue to go unchecked. But because of our great capitalistic system, we can mend our ways and come out of this recession stronger. Even more, when we emerge from this recession stronger than ever, we will be so because we will have learned that greed and irresponsibility will not lead to the American dream.

Take heed Americans, we have allowed our government to run free in trying to stop this recession. We have allowed our fears to trump common sense. The government played a major role in creating this recession and can do nothing but make it worse. The government cannot support the massive amount of spending being passed right in front of our eyes in the name of economic stimulus. This is not capitalism; don’t let it teach us another hard lesson. Let companies go under and stop bailing them out. The economy is not going to collapse and plunge America into the abyss. Keep to the principles of capitalism and let’s work our way out of this mess.

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