Thursday
Most people who are against Capitalism have rather odd ideas about what it is; some going so far as to equate it to the ugly blend of fascism and socialism existing in the US. Even those who sort of support it, sometimes repeat the sentiment that ‘Capitalism, despite its flaws, is the best system available.
Capitalism has a very tenuous connection with a ‘system’, it could be better described as the absence of a system. That is why it is the personification of marketplace perfection. Nothing could be closer to perfection than each and every market participant calling the shots on each and every deal.
No system can beat free individuals agreeing on perceived value and transacting, or disagreeing on perceived value and not transacting. It is only when there is a departure from that freedom, no matter how minute, that imperfection enter the equation.
No system can produce a fairer or better result than individuals transacting freely. Capitalism is the ultimate in individual freedom. As such it is not only morally superior, it is the most efficient way of creating wealth for everyone, not just the top 1{781366457d9c05ca9285c5eb3e04ac75968647e24436986cab65f74e6f4b3aad}.
We should give it a try one day, and we will, but not until the existing state controlled abomination has collapsed. Anything forced upon people that is against human nature will eventually collapse. Legislating that people are not allowed to act in their own best interests is doomed to failure, but not before terrible pain is inflicted.
Venezuela as just the latest in a long list of sad examples. The only perfect system is no system.