“Intellectual Defense of Capitalism”
Posted by jemartynowski on May 12, 2008
In his many excellent publications, Dr. Walter Williams (professor at George Mason University, writer, part-time radio talk show substitute, and my hero) defends capitalism many different ways. Most importantly, he uses logic. Last October he wrote an article that I enjoyed moderately at the time, but I find it more important today in defending capitalism vs. socialist ideals currently taking over our country.
Recently, it seems that every time I get into discussions about the value of capitalism vs. socialism, the other party often admits the obvious fact that free markets are more efficient in terms of resource allocation and hence lead to greater wealth than socialism and other forms of statism (credit to Dr. Williams for that wording). They argue that even though that is the case, in capitalism the rich just get richer and the poor are stuck. In socialism, the go on, the people who need the resources get them. Besides some glaring problems with those two sentences, hat Dr. Williams points out in the linked article is that these people’s moral superiority is not warranted.
There are two statements to make if you are ever in one of these arguments that cannot be denied:
1. Capitalism is based on voluntary peaceable relationships rather than force and coercion. This is important because in a socialist society, this is not the case. All decisions must be made by someone who knows best for society. The problem here is that most everybody who defends that type of government thinks that those decisions are obvious. They never really are. Sure, free health care sounds good, but is it really? Haven’t we learned about the obvious pitfalls from other countries’ mistakes? Are you imposing on my freedoms to give those benefits to others? Who decides that I have to give up my freedoms? You? The president? Congress? That’s bull. I should decide when I want to give up my freedoms, peaceably and voluntarily seeing as I have not violated anyone else’s rights. Which leads us to…
2. Capitalism respects the sanctity of the individual. This is the best way to put into words what capitalism really means. Individuals, not anyone else, should decide what’s best for themselves. The individual rights of a person should not be impaired unless he has impeded on another’s rights.
So, next time you are discussing this topic with your socialist friend(s), don’t back down when they get morally righteous on you. If they truly cared about diversity and respecting everyone’s individuality, they cannot help but agree with you. Nobody has the right to impede on anybody else’s rights.
This entry was posted on May 12, 2008 at 2:58 pm and is filed under Uncategorized. Tagged: Capitalism, Dr. Walter Williams, George Mason University, Politics, Socialism, Walter Williams. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.