To Non Capitalists — Open letter
Dear Non-Capitalists,
I know you like the other economic systems and appreciate that they seem to work on paper. Unfortunately, history has proven that they don’t really work in practise. Let me explain to you what capitalism is and how it works, and we can compare to some other examples.
In capitalism, the market usually regulates itself with limited government interference. The market usually had stayed regulated and was stable, besides a few anomalies, but the government have learned from them. That’s because in capitalism, specifically a free market, it allows freedom of choice, though there have been government regulations that exist to protect the consumer. The only times in the U.S. in which the market had crashed were: The Great Recession, The Great Depression, The Dot.com Bust and Black Monday the 2nd. In these crashes, there was one sole reason why they had crashed: the market was forced, which simplified, means that people had tried to change the market unnaturally, which leads to a bubble creating, then soon after popping.
In other systems, the market tends to be majorly controlled by the government, both through ownership and regulation. This leaves little freedom for the seller and buyer, and freedom is a right that should be given to all.
Efficiency in capitalism is better than other systems. If you were to look at workflow, achievements and economic results of other systems, you could see that they seem to be lacking. For example: During Mao’s reign he had put the entire country into steel factories, or to farms. What happened next was that all the steel was of terrible quality and the farmers weren’t working well enough to produce enough food for everyone, which lead to starvation and eventually, many deaths. Another example is Brazil’s socialism. In 2002, Brazil became socialist. The result was good at the start, the economy had gone up, there were more jobs and more money overall. Soon enough, however, when the federal funds rate had become ¼ of the government spending, problems occurred as the economy turned into shambles. It made Brazil even poorer than it was before.
From these examples, you can see that whenever these systems are deployed, they fail because of the lack of long term stability. No true communism or socialism have worked, so I deem these 2 systems unreliable and unworthy unlike capitalism, which has always worked so far and has had no instances where the entire system stopped working where it didn’t recover, unlike communism and socialism.
In conclusion, I hope I’ve convinced you why capitalism, though not perfect, is the best system so far, and why you shouldn’t cheer for the other systems, because they’ve been tried and have all failed. So I hope that you join me to be able to recreate the age of information in the turning age of disinformation!
Sincerely,
A Capitalist
