Thursday, December 19, 2013

Walter Williams' Succinct Defense Of Capitalism

When someone says something as ridiculous as, "economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world" and concluding that "this opinion ... has never been confirmed by the facts." their authority, their credibility and even their mental clarity comes into question.

It is not disparate facts scattered like grains of sand across the universe that offer a defense of capitalism. The benefits of the slandered institution are overwhelming. Capitalism has benefited more people than water chlorination, antibiotics and surgery. Simply put, capitalism saves lives.

Here is Walter Williams. First, I acknowledge that capitalism fails miserably when compared with heaven or a utopia. Any earthly system is going to come up short in such a comparison. However, mankind must make choices among alternative economic systems that actually exist on earth. For the common man, capitalism is superior to any system yet devised to deal with his everyday needs and desires.

Read more below.

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