Global survey view capitalism as it exists today does more harm than good in the world – January 24, 2020,
So, both the TheGlobeAndMail.com and the NyPost.com published a story titled stating basically that in a global survey people in countries like the US, France, China and Russia, view capitalism as doing ‘more harm than good’. However, what’s ignored in the title are some keywords
“capitalism as it exists today does more harm than good in the world.”
“capitalism as it exists today does more harm than good in the world.”. Now, modern-day capitalism which has a million and one forms of protectionism along with public sector unions which play a huge role in the implementation of public policy, public perception, public brainwashing and the cost of living globally do cause capitalism as it exists today to do more harm than good in the world. Primarily because Western Values that were developed over the centuries haven’t been properly reflected or sold to undeveloped countries.
Yes, I’ll say that “capitalism as it exists today” has raised the standard of living for people worldwide, but at what cost I will argue? Despite what many people in America think, Socialism namely Bernie Sanders-style Democratic-Socialism is political theory to be reckoned with now. The Democrat Party who with all their flaws understands that the Free Enterprise system does more good in the world than harm are now having to find a way to make sure Bernie Sanders isn’t their nominee.
Most swing voters, namely people who want a pension to retire on, understand what Bernie Sanders Democratic Socialism will do to their standard of living. Even if you like Scandinavian style socialism (as Bernie Sanders calls it) understand that Scandinavian socialism is very expensive to implement. Socialism causes prices to rise and it also limits access to the private sector to lower prices.
In most Vancouver Canada as an example, Uber was basically banned, because there’s a taxi monopoly, which doesn’t allow competition to lower prices for consumers. When prices or wages like the minimum wage as an example aren’t allowed to lower consumer prices, monopolies whether private or public emerge in the economy. Uber is not allowed to lower consumer prices in Vancouver, it’s illegal and therefore artificial wage or I could say a government-enforced price control is created.
Now, this price and/or wage control creates all sorts of price distortions in the economy, it’s important to remember in Western societies nobody wants to go to jail, now, what is often the case is that 3rd world nations tend to want to duplicate certain elements of Western Democracies into their own economies, so in Keyna as an example, they’ll create their own forms of economic protections, that won’t bode well for people in a developing economy. Now, if Western countries had a more free-market capitalistic model and not a welfare state, socialistic economic model the rest of the world wouldn’t assume that the promotion of money/fiat currency wasn’t the paved road to economic success.
No, hard work is properly constructed infrastructures is the key to economic success. A foreigner as an example can buy real estate property in Canada and not worry about that property being Nationalised by the Canadian government. Now, sure there are instances where nationalizing something is necessary primarily for security of a nation, but in most third world countries, foreigners are banned from owning property, or foreigners if able to purchase property from one elected government might lose that property because of a new government with more of a Marxist view of the world.
The movie ‘Wakanda’ is the prime example of how people have been trained to think about Capitalism. In the fictional African nation of Wakanda, there’s a substance called Vibranium, which I’d say is the equivalent to Oil, well in the movie this Vibranium substance that’s traded allows the fictional nation of Wakanda to have technologies not available anywhere else? Now, this concept is ridiculous, Nigeria has an abundance of Oil, however, in Nigeria, protectionism is a very real problem.
Consider trying to open a business in Nigeria or any African nation and see what happens to you if you, your property or your business if don’t have the right POLITICAL connections. God forbid the democratically elected leader of the African nation is a Marxist, chances are your investments won’t be as stable as they’d be in a Western Democracy.
However, you see, because in most regions of the world the view Western Capitalism as being all about the money, they assume that if they’re giving enough money of value, that they’ll enjoy the same standard of living as we enjoy in the West.
Although most Libertarian Conservatives will blame the Central banks and the Fiat money supply, for me the problem stems from Labor Unions! Most labor unions are derived from Karl Marx. If you believe in Price or Wage controls it doesn’t matter what the money is backed by. If the fiat money system crashes, I don’t have to trade in Gold, if society collapses every commodity all of sudden could equate to a certificate of money. If I have something the market needs, maybe I don’t want Gold, maybe I want technology or equipment or a certificate of Oil.
In a free market, the price and wage controls are the problem. But you see if focus exclusively on the Central Banks, you clearly don’t see why there’s a DEMAND for central banking. The demand for central banking is derived from greed, which initially began when there was a demand for price and wage controls. Peter Schiff as an example has been peddling something called Gold money for years with little traction, Bitcoin has existed for years with little traction, why? There’s an inherent disdain by lots of people for the free market.
Majority of those in global survey view capitalism as doing ‘more harm than good’ | NyPost.com
If you’ve ever been to many East Asian countries, like Hong Kong and Singapore, the only economic problems those countries seem to face are real estate problems. So far Singapore has done a better job than has Hong Kong, but these are very business-friendly countries and when a country is business-friendly, it’s citizens tend to flourish even greater in Western Nations.
Now, most people will measure flourishing in terms of money, however, I advise the reader to consider flourishing based on a persons perception of freedom to choose their own destiny. The economic equation in the average persons mind goes something like this… “I don’t have as much money as this or that person, therefore something is wrong with capitalism?” What’s often ignored is what a person is NOT willing to do in order to make a living. I’ve met black, white, south and East Asian ABLE BODIED, WOKING AGE people who consider themselves to be poor, but who are unwilling to do certain jobs that they believe are beneath them to do.
Whatever the excuse these able-bodied people make as to why they’re unwilling to do certain jobs all comes from this age-old idea that a government or a monarchy is supposed to take care of me. As long as my personal needs are taken care of by the government, I’ll vote or support Fiat money, wage and price controls, wars and welfare. The problem is not the money, the problem is how a lot of people conceptualize money. People often attach money with capitalism, but free-market capitalism is an economic concept that’s proven to raise the standard of living for humanity.
It doesn’t matter if you like or prefer Socialism, communism, fascism, protectionism or free-market capitalism, the economic reality is the free enterprise system, often called capitalism has proven to be the economic model that works. However, Capitalism, as it exists today, does more harm than good, because it’s not being properly explained to people. It shouldn’t matter if a person believes or agrees with laissez-faire capitalism, at the very least people all over the world via the education systems should be able to comprehend what the Free enterprise, laissez-faire capitalistic system is.
Laissez-faire is an economic system in which transactions between private parties are absent of any form of government intervention such as regulation, privileges, imperialism, tariffs, and subsidies.
Most humans have not a clue the difference between actual capitalism and the current capitalism we’re practicing in the West and this lack of understanding obviously leads to people having no foundational knowledge as o how the wealth of the modern world is derived. I have no problem with the 2020 Edelman Trust Barometer survey. their wording was very specific, protectionist minded Conservatives don’t like it, because it gets to the heart as to why Bernie Sanders Democrats will eventually become the majority of Democrat voters!
Interesting times ahead!
