Listening to some politicians recently, you’d think capitalism benefits only those on Wall Street, not Main Street. Yet the benefits of capitalism have proven over history to benefit all of society. The heart of capitalism is the private ownership of property. Without free enterprise, individuals would not be able to have the opportunity to own economic resources and compete in the marketplace. Capitalism provides valuable goods and services, rewards hardworking people and initiatives, creates a higher standard of living for all, narrows the gap between the common person and wealthy, …
Probably not permanently, but the economic policy excerpts from Rahm Emanuel’s stump speech last Saturday could lead one to believe that: . . . we cannot ask taxpayers for more when families are struggling to stay afloat in this economy. We cannot price Chicagoans out of their homes, their schools and communities. This is no time to even talk about raising taxes. Our first responsibility is to make the tough choices that have been avoided too long because of politics and inertia. Whether or not the call for austerity measures …
The news is out: the U.S. is falling behind on economic freedom. In the 2010 edition of the Index of Economic Freedom, the United States, for the first time, dropped out of the ranks of the free, and into those of the ‘mostly free,’ ranking eighth in the world and behind Canada in North America. The U.S. retreat was broad-based: it fell backward in seven of the ten areas measured. And while much of the U.S.’s decline stemmed from its response, under both President George W. Bush and President Obama, …
President of the Bolivarian Republic of Venezuela Hugo Chavez received resounding cheers from the audience after saying, “Seven percent of the world population – some 500 million people – are responsible for half of contaminating emissions. Capitalism is to blame for this.” He also asserted, “our revolution seeks to help all people…socialism, the other ghost that is probably wandering around this room, that’s the way to save the planet, capitalism is the road to hell….let’s fight against capitalism and make it obey us.” If President Chavez means carbon dioxide emissions …
Last week the American Enterprise Institute hosted Jay W. Richards, visiting Fellow at the Heritage Foundation and author of the new book Money, Greed, and God: Why Capitalism is the Solution and Not the Problem. The conversation focused on why capitalism and Christianity are compatible. Highlighting three of the eight myths surrounding capitalism he makes in his book, Richards explained the “Piety Myth”, which he defines as well-intended people ignoring unintended consequences when searching for a quick fix solution to an economic or social problem. An example of this is …
He or she is at it again. An electronic circular, originating elsewhere at Heritage and signed only “A Conservative,” marks Thanksgiving by recalling the Pilgrims’ fleeting flirtation with socialism 387 years ago — whilst establishing Plymouth Colony under William Bradford’s leadership. (“A Conservative” last week e-circulated thoughts on how the Electoral College benefits an ungrateful electorate.) Herewith the contents of the latest e-circular, headlined “Giving Thanks for Capitalism”: When we bow our heads this week in thanks for our many blessings, we should recall the Pilgrims’ early lesson in the power of free markets. …
