References to Articles on Capitalism and Socialism

References to Articles on Capitalism and Socialism

https://www.weforum.org/agenda/2015/08/does-capitalism-cause-poverty/   Good article measuring the effects of capitalism on poverty

https://fee.org/articles/extreme-poverty-rates-plummet-under-capitalism/

https://www.nytimes.com/2016/09/04/upshot/the-formula-for-a-richer-world-equality-liberty-justice.html  Liberalism referenced here is classical liberalism, not the current brand of leftist progressivism

https://www.forbes.com/sites/timworstall/2015/12/19/its-not-capitalism-that-causes-poverty-its-the-lack-of-it/#7794834d5613

https://www.cato.org/publications/commentary/global-povertys-defeat-capitalisms-triumph

Benefits of capitalism

1. In general, capitalism produces more wealth.
2. Capitalism actively rewards positive traits like hard work and ingenuity. Similarly, it punishes negative traits such as laziness and theft.
3. Capitalism is more compatible with democracy than other systems. In fact, there are few republics or democracies in the modern world that are not capitalistic.
4. Capitalism is more compatible with freedom of speech and Christianity than alternative systems.
5. Free markets are the natural state of trade. Unlike socialism, which requires government interference, capitalism can develop naturally. Therefore, capitalist societies tend to have smaller governments.
6. Free markets can conduct certain functions that are normally handled by the government. Therefore, capitalist societies tend to be more efficient and free from government control.
7. The competition between markets and businesses will create more productivity in the work place, allowing the rate of technological innovation to increase. This will cause the society to advance while the costs of goods and services will decrease.
8. Governments in capitalist societies tend to generate more wealth, since more wealth is being produced. Therefore, capitalist societies tend to be stronger.
9. Capitalist societies usually do not have large black markets. Therefore, capitalist societies tend to have less crime.
10. Capitalist nations promote free trade allowing more nations to cooperatively work together for more economic liberty. This will likely mitigate disputes between nations.

Socialism - (in Marxist theory) a transitional social state between the overthrow of capitalism and the realization of Communism.

https://mises.org/wire/socialism-worlds-greatest-generator-poverty  Good article on socialism & millennials’ attraction to it.

http://www.independent.org/news/article.asp?id=9206  Another one.

https://www.investors.com/politics/editorials/capitalism-global-middle-class-majority/  Ibid

http://www.aei.org/publication/why-socialism-failed-a-2018-update-part-i/

http://www.aei.org/publication/why-socialism-always-fails/

https://www.washingtonexaminer.com/opinion/op-eds/want-to-end-poverty-promote-capitalism-not-socialism

https://www.marxist.com/world-poverty-capitalism-s-crime-against-humanity.htm  The Marxist view.

https://eand.co/how-capitalism-made-americans-poor-and-socialism-made-europeans-rich-6eb7b52353a  Very thoughtful and thought-provoking article on European “socialism” vs American “capitalism”.  It’s not really socialism in Europe.  It’s high tax, hign level of social services.

Ray Gruszecki

January 21, 2019