The problem is that economic prosperity has made a lot of people in this country not only forget the origins of our economic wealth, but also it has made certain groups of people — namely liberals and socialists — feel like there is no reason why we can’t steal our way to even more prosperity. Before going on, let’s get something perfectly straight: The reason why we, America, are so wealthy is because of capitalism, yes, capitalism; not communism, not socialism, not social programs, not charity, not redistribution of wealth, not progressive taxes, not liberalism, not anything other than capitalism.
Capitalism encompasses investments, which are channeled through the capital markets and fund innovation, creativity, and new ideas and businesses. This is the fundamental to a successful economy that brings prosperity to all, rich and poor. There are a multitude of examples throughout history to show us that this is in fact the absolute truth. No society has ever prospered without capitalism in the last several hundred years that I know of. One may argue that certain countries have a better healthcare system, or better elderly care, or some other specific sub-system of society, but as a whole no country has ever prospered without capitalism, at least since the industrial revolution for certain. One of the great examples that I can point to is that of South Korea vs. Bangladesh.
Without question, there WAS an element of central planning that partnered the government with major conglomerates in South Korea, but the purpose of this partnership was to funnel money, an extremely precious commodity, into successful corporations rather than to tell corporations what to do. Please keep this in mind while reading the rest of the post.
In 1961, both South Korea and Bangladesh were among the poorest two countries on earth. South Korea had come out of a devastating civil war that ended in July 1953 that left the country in utter ruin, and went through a military coup-d’etat in 1961, and Pakistan/Bangladesh, which separated from India in 1947, were constantly at each other’s throats and bickering — Bangladesh separated from Pakistan in 1971 with the help of India. At that time, according to the World Bank, South Korea’s per capita GDP was $92, while Bangladeshi per capita GDP was a tad better at a mere $93. This is where the common traits end.
By 2012, South Korea’s per capita GDP grew to $22,590, while Bangladeshi’s per capita GDP grew to a whopping $747! The big difference between the two countries: Capitalism vs. socialism. Every penny South Korea could get its hands on it invested in new businesses and its economy, while Bangladesh took every penny and used it on social programs to “help” its people. At the end of the day, which country did better for its people? It isn’t difficult to figure out that at the end of the day, pretty much everyone can see that South Korea did far better for its people than Bangladesh. And, the Bangladeshis that I’ve spoken to about this subject all admit that South Korea has done far better for its people than its own country and are envious of South Korea’s economic prowess.
Now, I’ve also spoken to many Koreans that have gone through their economic revolution and they tell of hardship, especially during the earlier periods, and many tell me that they were originally greatly opposed to what the dictatorship of South Korea did. Then they ruefully and shamefully admit that they were short-sighted and stupid, and that they are now very glad that the dictator Park Chung-hee had the vision and the will to transform Korea into such a financially and economically successful country. In particular, many older folks are grateful for the lives and opportunities that their children and grandchildren are afforded today and shudder at the thought of what may have happened if the liberals and socialists had won the day.
These same folks are also the same ones that tell me how idiotic, stupid and short-sighted young people are in Korea today, especially the ones who advocate for more socialism and social programs. They believe it is because young people never saw the hardship and the suffering, and everything was handed to them on a silver platter. They recall how stupid, idiotic and short-sighted they were when they protested for more socialism in their youth, and they wish that they could convince today’s youth of the error of their ways.
The regrets and the perspective that the older Korean folks have is also directly applicable to Americans. But when American libs/socs are confronted with this inconvenient truth, their reaction is very typical: “That’s different! We can afford more social programs! We’re not a poor country like South Korea was in the 1960s and 1970s!” How idiotic, stupid and blind can libs/socs really be? It is amazing how myopic these people really are! And, they claim to be intelligent and educated people! It’s absolutely flabbergasting!
These libs/socs don’t understand that a penny taken away from investments is a penny wasted. Also, these libs/socs don’t seem to understand that no matter how rich we are if we continue to waste our resources, we will not stay rich for long. Look at Europe. They were once very rich, but many of these countries are having to rollback their social programs just to survive and the ones that these social programs were designed to help, the poor, are now worse off than ever before and the poor are the ones that are hurt the most and suffer the most from the consequences of spending resources on so called social programs. How ridiculous is this that Americans haven’t/can’t/don’t learn these lessons?
It is astounding to me how libs/socs have completely forgotten how we became the richest nation on earth and don’t have a clue as to how to remain the richest nation on earth. Moreover, it is ridiculous how little they understand about helping the poor and what the best way to do so actually is. They think that by giving handouts that we will stop poverty and they decry that the richest nation on earth cannot eliminate poverty in its own country. This proves how little they know about our own history, how a successful economy should function, how to help the poor and what the role of capitalism is in our society. Instead they curse capitalism, decry the poor and claim that their strategy of dolling out handouts is the best way to help the poor and raise standards of living for all. So, they claim that the reason why social programs haven’t helped the poor as much as it should is because there isn’t enough funding for these programs! So, using this as a pretext, they insist on stealing more and more wealth and flushing it down the toilet!
Just to teach the libs/socs a lessen, and to root out their idiotic, stupid and short-sighted so called “plan,” we should give them what they want. We should allow them to raise taxes as high as they want and as much as they want and spend as much money as they want on social programs. I will GUARANTEE within 50 years, we will be like Spain or Greece. I GUARANTEE it! Then we can dispense with their childish notions, never to return to their lunacy and get back to the roots of what makes our country economically great: Capitalism!
This is not to say that capitalism will eradicate poverty or even close the wealth gap, not at all. In fact, the more successful our capitalist economy becomes, the larger the wealth gap will be, and no matter how successful our economy becomes, poverty will never be eradicated, never! But that’s the point: Capitalism wasn’t, isn’t and never will be about eliminating poverty or closing the wealth gap. Capitalism will always be about broadly raising the living standard of everyone, rich and poor. So, the measure of success or failure of any economy shouldn’t be necessarily measured by the number of poor people or the difference in income between the rich and the poor, but by how high the standard of living is for the average person, and whether or not the poor are better off then they were a generation ago.
Some have accused America of having failed to meet this criteria of success and blame capitalism for failing to achieve these goals. What these numbnuts don’t understand is that we haven’t had true capitalism in decades, if ever since the turn of the 20th century. In addition, they fail to recognize that the failure of our economy and the quagmire we find ourselves in is almost entirely due to expanding social programs, bad regulations/legislations, emphasis on solving for the short-term, and mistaken notions about democracy, taxes, money, income, wealth and individual rights.
Moreover, libs/socs will point to how capitalism leads to unbridled competition, corruption and cheating. And, they point to the late 19th and early 20th-century era of the robber-barons to illustrate how capitalism is bad for America. What these idiots don’t know and can’t tell you is that there is a difference between true capitalism and what these idiots call capitalism. What these dumbbells are referring to isn’t capitalism, but what I would call gangland economics, where only the strongest or the most brutal survive. True capitalism and true capitalists do not condone such an economic model. True capitalism is about fair competition with rules, regulations and laws that protect fair play and punish the cheaters, and, in general, provides for a level playing field for all. The robber-baron era does not meet this definition of capitalism.
The bottom-line is that capitalism hasn’t failed us, because we haven’t had capitalism in the US in decades. What has failed us, among many things, is that we give equal credibility, legitimacy and credence to the libs/socs philosophy and pretend that what they have to say is credible and worth considering. It is long overdue for us to completely dispel the notion that the best way to help the poor is through handouts and social programs, and understand that true capitalism is the only way to real long-term prosperity for ALL.
For more, please read my books, “… Under the Constitution with Liberty and Justice for ALL,” available at http://www.CreateSpace.com/3978962 and also available on Kindle, and “The New Constitution for Modern America,” available at http://www.CreateSpace.com/4281897 and also available on Kindle. Please don’t forget to rate this post. Any comments or questions are welcome and can be left for me on this blog, @Ahmedinejahd on Twitter, on Facebook or via email at AlexAhmedinejahd@Yahoo.com. Thank you in advance for buying my books, and rating this post. And, thanks for visiting my blog; I hope you get an opportunity to read my other posts. Have a great day!