There seems to be a lot of talk about the evils of capitalism of late. While capitalism has its short comings a short story will illustrate the difference between capitalism and socialism. This story has been published a bunch of times, the mos recent by Martin Armstrong. His added insights are valuable.
A guy looked at my Porsche the other day and said I wonder how many people could have been fed for the money that sports car cost. I replied I am not sure, it fed a lot of families in Bowling Green, Kentucky who built it, it fed the people who make the tires, it fed the people who made the components that went into it, it fed the people in the copper mine who mined the copper for the wires, it fed people in Decatur IL, at Caterpillar who make the trucks that haul the copper ore. It fed the trucking people who hauled it from the plant to the dealer and fed the people working at the dealership and their families. BUT,… I have to admit, I guess I really don’t know how many people it fed.
That is the difference between capitalism and welfare mentality. When you buy something, you put money in people’s pockets, and give them dignity for their skills. When you give someone something for nothing, you rob them of their dignity and self worth. Capitalism is freely giving your money in exchange for something of value. Socialism is taking your money against your will and shoving something down your throat that you never asked for.
The dignity of self governance is valuable but also costly. More people need to know how to do act appropriately and safeguard the responsibility.
A few questions to consider:
- If the government is going to need more money, where are they going to get it? From those who have money or those who do not?
- Are you a good steward of what has been entrusted to you?
- Does charity fit in with capitalism?
- How can you have more so you can give more?