Hope you just read my previous post. This new one will better explain just why capitalism offers the best opportunities for people - and the most fair.
There’s nothing selfish about capitalism. Like every economic model, it is a matrix within which individual actors can behave morally or immorally. But here’s the thing: no one has yet come up with a system that rewards decent behaviour to the same extent.
In an open market based on property rights and free contract, you become wealthy by offering an honest service to others. I am typing these words on a machine developed by the late Steve Jobs. He gained from the exchange (adding fractionally to his net wealth) and so did I (adding to my convenience).
Under the various forms of corporatism tried by fascist and socialist regimes, by contrast, someone else – generally a state official – gets to allocate the goodies, guaranteeing favouritism and corruption.
Greed – that is, the desire for material possessions – is not a product of markets, but a product of a human genome evolved in a competitive environment. Capitalism harnesses greed to socially productive ends. The way to become rich in a free economy is to give others what they want, not to suck up to those in power.
In fact, it is difficult to think of a more ethical relationship than one created by a free contract. Each party will add to the other’s well-being by doing precisely what is expected of him.
Are there flaws with capitalism? Absolutely! We are a flawed species; how could there not be? Yet, as David Hannan says, better that millions decide with their actions and their assets what they wish to choose and not choose, than that some tiny government committee mandate what we all must do or have.
Nothing is wrong with creating and earning wealth - nothing. If it is earned honestly and fairly, it is a good thing. Those who have wealth can use it to create great good.
What matters is that opportunities are available for all to better themselves. That is where we should focus; doing as much as we can to make sure that no one is shut out from improving their lot in life.
We can't even do that perfectly. Some of us are smarter or prettier or more charismatic or have specific talents; those people rate to do better than others. Some of us have greater challenges. A moral society will reach out a hand to help those with significant disabilities. But competing in an equitable marketplace; nothing can be superior to that.