You would be hard-pressed to find a stronger supporter of free-market capitalism than your writer. History proves that it is the system that has provided more wealth, freedom and well-being to more humans for longer than any system before it. It’s helpful to be clear that the classic definition of “capital” is the means of production, the ownership of same and the activities surrounding that production.
I have never forgotten what Dr. James Dobson of Focus on The Family once told me during a radio interview: “Without an underlying FAITH system (in his and my case and most of the West, that would be Christianity or Judeo-Christianity), capitalism is just a HUNTING LICENSE”.
As I’m sure you know, who or what OWNS the capital is critical. If you think about it, you’ll see that socialism or it’s evil big brother, communism, is a form of capitalism in which, in varying degrees, the STATE owns and controls the capital. Communism is simply MONOPOLISTIC capitalism.
Someone once asked David Rockefeller why he and others with great wealth (produced under the free market system they clearly seek to deny others) had formed multiple allegedly “humanitarian” organizations, the sub rosa goals of which seek to bring about a socialist or communist system here. His response? “If YOU’RE the state, it’s a pretty good deal”.
Which brings us to OLIGARCHY, the system in which a small group of wealthy and powerful individuals run the state. The citizens have little or no input.
And that’s just about where America is now.
For true free-market capitalism to function as envisioned by Adam Smith, Hayek, Mises and others, those who, by their hard work and enterprise, find themselves in control of the capital (again, the means of production), are cautioned by classical economists to do so based on ENLIGHTENED SELF-INTEREST! For the system to produce benefits for all parties, it is in the capitalist’s interest to play by the generally accepted rules, honor contracts* and treat those with whom he has dealings with respect and not abuse the blessings our unique system allow them to experience. (* The Constitution is the most important man drawn contract in America.)
Let me cut to the chase.
America today is at a very dangerous place. Too many of our capitalists, politicians and others in positions of power are more concerned about JUST their bottom line or maintaining and increasing their power over those around them and are on the verge of destroying the very system that brought them and so many others liberty and prosperity. Too many of them are operating on the basis of UNENLIGHTENED SELF-INTEREST. They remind me of some of the numerous viruses that infect other organisms only to kill it at which time, stupid, unthinking, UNENLIGHTENED CREATURE THAT IT IS, IT ALSO PERISHES!
If OUR capitalists and poliicians persist in this increasingly unenlightened behavior, some of us who understand what that has ALWAYS brought upon us will find ourselves uttering the final lines in the final scene of the classic film at the link below. Not one of my favorites but nonetheless prophetic.
My great fear is that that day will come sooner than later. MUCH sooner!
https://www.youtube.com/watch?v=XvuM3DjvYf0
Dick Bachert 7 24 2015
