Showing posts with the label free market

Capitalism Defended

According to increasingly many Democrats in America, who fancy themselves as 'Democratic Socialists', the free market, using capitalist principles, has brought oppression, racism, income inequality, and poverty. This is a popular refrain from socialists like AOC, Bernie Sanders, and Elizabeth Warren. Is the free market actually guilty of so much evil? Not at all! While it certainly has problems, free-market capitalism has raised more people out of poverty than ANY OTHER ECONOMIC SYSTEM in history! I am against crony capitalism. I favor morally restrained capitalism, contra the "Greed is good." of the 1980s Wall Street yuppies! All the data we have is clear that in the past 200 years (1820 - 2020), the rates of poverty globally have been reduced dramatically thanks to capitalism.  Both baseline poverty rates, as well as extreme poverty rates, have decreased sharply under capitalism. Millennials and Gen-Z are being brainwashed by socialist teachers to believe that so