Correct. Only capitalism and free markets can create wealth. And wealth is what solves problems in society. Unfortunately most people think the solution is just to steal from productive people. Very sad.
No it doesn’t. It creates wealth. Free trade is the only system to do so. That is wealth that benefits society as a whole. Government policies like inflation do, however, concentrate wealth.
The kinds of people like the guy you are responding to don't know anything about the economic systems they champion. I doubt he has ever even read a single excerpt from "The Wealth of Nations"
Being against free trade is stupid. It’s just people voluntarily trading with each other. What gives you the right to use aggressive force to stop people from doing so?
A free market eventually becomes a controlled one without regulation. Theodore Roosevelt was the trust buster that stopped the concentration of wealth through monopolistic practices. Ole Rockefeller and Carnegie were ruthless capitalists that worked their men like dogs with the 6-12 schedule that only allowed Sundays off for the lord. A heavy hand in the markets leads to chaos but an unregulated market will lead to wealth concentration, meaning you have to have a common sense middle ground. It’s like how we are a democratic republic, you take the best of the two systems and create a good middle ground to combat the shortcomings of either one.
Monopolies are fiction of the state. They are created when companies lobby government for beneficial restrictions to crush competition. And monopolies aren’t sustainable because of the economic calculation problem. So monopolies eventually collapse as they have no competition and no way to calculate the costs of their resource allocation in an efficient manner as they control everything.
Inflation is when government prints money. That is so obviously a government policy. But please tell me about how “muh corporate greed” causes inflation. I’d love to hear all about your economic illiteracy.
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u/Savings_Studio_5678 3d ago
You eliminate poverty by increasing productivity not enforcing a nanny state