Yet an honest look at capitalism reveals just how stupid it is to attack capitalism, the only system that the world has ever been able to product wealth and the source of economic growth for the past century.
By definition, capitalism is the collection of peoples’ willingness to pay a fair price for the products they need and to get paid an honest wage for the work they do.
Anyone that is against capitalism is therefore against the collection of peoples’ desire for fair prices and wages.
To say that capitalism failed, is to say that people have failed to pay fair prices for goods and have failed to work for fair wages. That is not what has happen.
Capitalism has not failed. The rules that guide the economy have caused prices (houses, cars, higher education, etc.) to exceed there fair market value. Those rules are created by the government, but the people elect the government to create the rules that best control competition and the direction of investment funds.
So if capitalism is the collection of peoples’ desire for fair prices and wages, and the government is the means by which a small group of people can circumvent fair prices and wages (capitalism), then the people using the government to circumvent capitalism are the true source of the problem and the cause of the recession.
Some say this is the weakness of democracy. When people realize that it is easier to circumvent fair prices and wages (or cheat other people) by electing someone willing to create policies in their favor that give them a competitive advantage, the system begins to fall apart.
The reason the financial system is collapsing is because of a loss of belief in moral goodness. There is a greater number of people willing to cheat each other, by lying and stealing then by working for a fair wage.
Without a cultural majority that upholds a moral conscious, democracy breaks down until no one in politics can be trusted anymore as corruption engulfs the nation, resulting in a complete government controlled economy.
That is the path we are on.
Capitalism didn’t fail, it has been circumvented. The solution is to return the nation to its previous moral high standard.
Of course that is not an easy task, as the bible has been removed from the public schools for several generations which resulted in a nation that continues to attack its foundational Christian values that created the cultural that brought it success, without realizing they are destroying the foundation for future economic success.
Returning to prosperity is not so much about how much money we are borrowing and spending, as it is about what we believe. These are symptoms of the underlining problem. If we truly believed “dishonest money dwindles away” – (Proverbs 13:11) and taught it to the next generation, capitalism (fair prices and fair wages) would lead the nation right back to prosperity.
So if you want to help rebuild the economy, you can start by teaching your kids why it is so important to first believe in this simple truth.