Wednesday, 16 September 2015

Walter Williams: “The free market is not only economically superior, it is morally superior.” (VIDEO)

There are only two ways by which to obtain values from other people: either by trade, or by plunder. Only one is moral.

Voluntary exchange is moral and just. Legalized theft, facilitated by government via taxation and crony capitalism (often under the guise of “justice”) is immoral and unjust. We are either free people or we are not. Capitalism, or more exactly, “free enterprise” is the economics of free people. As Professor Williams explains:

1 comment:

  1. From Capitalism per US legal web site definition - "However, capitalism has required government intervention to curb its abuses, which have ranged from slavery to monopoly cartels and financial fraud, and government assistance through subsidies, tax credits, incentives, and other types of exemptions. " I was trying to guess why so many don't understand the contents of the video. {You've ably countered the myths in the definition over the years}. Another reason is many are still at kindergarten stage and wail "it's not fair" and demand Government intrusion. So many seem to think the herd of elephants that is Government is a proper part of Capitalism. The definition of Capitalism gets bastardised when Gov't special favours are involved - contracts, tariffs, special codes; bastardised when the currency is thoroughly corrupted by Gov't printing presses. A definition includes "system in which a country's trade and industry are controlled by private owners for profit, rather than by the state. Huge taxes are a negation of private control. RMA dictate, again a huge distortion [of what Capitalism means].
    It would seem that many years of propaganda in favour of governments (and handing out OPM) and opposed to free trade are too much to overcome. Graphs aplenty, showing the massive benefits from Capitalism wash over the masses. {Because they perhaps never see them, and don't really wish to}. Saying, "well that's not really Capitalism" to a confused person doesn't help much
    Peter

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