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June 16, 2014

"Is Inequality Caused By Capitalism or Statism?"

Nicely done. Capitalism isn't the culprit, crony capitalism is. (Every introductory economics course should discuss this.)

History provides ample evidence that when allowed to function properly free market capitalism generates massive national prosperity with high employment, a strong currency and rising standards of living. It is only when the state manipulates and over regulates free markets that capitalism fails. However, capitalism usually takes the blame for the failures of statism.

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Ken

Of course capitalism is the source of INCOME inequality. Without it, we'd all be living on subsistence wages and all be equally impoverished. Capitalism and capitalism ALONE is the only system by which the typical person moved out of subsistence.

I think the real problem people have with capitalism, though, isn't that capitalism "causes" inequality. Rather, it REVEALS it. Slackers and low value workers are easily identified. They really don't like that very much. And most of the rest are shocked to find out that they really aren't as valuable as their ego it telling them. It's literally incomprehensible to most people that nearly no one values the same thing as they do.

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