I was intrigued recently to read a review of Mr. George Soros' new book and hear him proclaim that the Free Market was not necessarily the right economic system. All we have to do is trust more socialist policies with government intervention and everyone will be equal and all the world's social ills will be taken care of. Now this talk is fit for political rallies regardless of party affiliation. But my excitement fades with the knowledge that most men like Mr. Soros made their fortunes in a Free Market environment. Capitalism, simply put, is a political philosophy that makes the consumer sovereign, whereby Socialism and by extension Communism places sovereignty in the hands of the state or politician.
Capitalism allows the individual to enjoy the fruit of ones labour.
Personally, I come down on the side of Capitalism and hope the same opportunities are available to others. Capitalism means allowing people to get rich by serving the needs of others. This disease has other effects. Tired of competing for their place in the market economy, they long to impose their wisdom on the masses by means of state power. This is why they are inclined to adopt an anti-capitalist credo.