Economic competition results in numerous innovations that improve all of our lives

If something is in high supply and has a high demand, then competing companies will provide the consumer with these items at a low price and with a good service." I don't think so. These competing companies will use their powerful marketing and advertising teams to push their own products, pouring millions or even billions of dollars into their images. The more fashionable something is (ie. higher demand) the more reason your capitalist corporations have to put the price up. Take Apple for example. The Macbook is not spec wise, worth their price. A Macbook (1) of almost identical specs to a Toshiba (2) is triple the price. The difference? Nothing the average person will really even notice. I believe it is an issue of fashion. "Of course "whenever we have a shortage of something, the price goes up across the board" - that is simple economics and will happen regardless of a capitalist system or not. However the capitalist system ensures that competition will produce alternatives to the things in short supply." Let me ask you, if not for a Capitalist system, why would we have a shortage of things people NEED in the first place? Why are essential items owned by private companies. People NEED medicines for example, yet the companies who produce these life-saving items do not have the public best interests as a priority. Stock holders and CEO pay checks come first. People NEED food, yet people are starving in every country in the world. People NEED a place to live, yet many people are homeless. How does Capitalism make these kinds of peoples lives better? "Fortunately for the Chinese, this is largely untrue. China has largely liberalised its markets over the past 10 years. It is thanks to capitalism that the conditions of many Chinese have improved." China is governed by three units. The Peoples Liberation Army(3), The State Council of the People's Republic of China(4) and the Chinese Communist Party(5). These three groups work together to govern the country. It is thanks to them the country is in the position globally that they are in. The CCP would certainly argue that China is NOT a capitalist country and being the largest political party on Earth, it would be a strong argument. "Globalization and the outsourcing of jobs abroad is not a problem." I doubt the 360 workers at Hobart and New Zealand Blundstone Footwear (6) who lost their jobs because their jobs were outsourced to Thailand and India would disagree. "The idea that people in Australia would then be unable to find work is absurd - there is still a market in Australia and supply and demand will see him find a job." This is ridiculous. I am a qualified Cabinet Maker and I can tell you from personal experience that your system is broken. How can it be cheaper to buy imported furniture produced overseas by overseas workers than furniture produced here by Australian workers if Capitalism is a good system that makes every persons life better? "...You are not telling me the problems of capitalism..." The problem with Capitalism is very, very simple and can be broken down into three statements: Capitalism gives certain individuals the opportunity to make a ridiculous amount of money. In a Capitalist system, money is power. For the entire history of mankind, the people who have gained power inevitably become corrupt. To paraphrase, Capitalism and Corruption go hand in hand. That, is the problem with Capitalism. Resources:- (1) http://www.amazon.com... (2) http://www.amazon.com... (3) http://en.wikipedia.org... (4) http://en.wikipedia.org... (5) http://en.wikipedia.org... (6) http://en.wikipedia.org...