BY GRACE COMMISSO | HS STUDENT AMBASSADOR
Capitalism provides many personal and economic rights such as individual ownership of property as well equal opportunity. This system engages people of all social classes to better their wellbeing and work hard to reach success. The idea behind capitalist values is the freedom to make decisions for yourself, along with consequences based on the effort put into a person’s choices; regardless of background or wealth. Fairness should not rely on the government. Putting power into the government to decide how their citizens are valued in society is extremely dangerous, not to mention it’s the most unfair way to establish equality.
Socialists believe in a classless society where everyone is "equal" although that allows no room for growth or development within the citizens, one prominent socialist belief is equal pay for all workers despite hours work, different jobs and various other factors. If that mentality was placed into society there would be no doctors, Lawyers, scientists, engineers, teachers, etc. Because why would anyone work so hard to achieve those positions if you’ll be paid the same as someone flipping burgers.
Capitalism presents the equity to have perseverance, of course the more work you put into achieving success, the more prosperous that person should be. Capitalism praises creativity thinking outside the box, and is open to new ideas, how could a society have those values if their citizens aren’t allowed flexibility to explore careers, move up and down the economic ladder and have change within structure. Competition in that structure is required for talent to flourish, leaving government out of the equation leads a path of balance regarding businesses, also quality of products and companies. Most importantly it allows its citizens to have a drive of motivation to better themselves, their family, and country. Taxation is theft; heavy regulation on goods is a clear device for governments to take advantage of citizens and income that they earn. The more control governments have over taxes is the more power they have over people, in turn limits the possibilities of self-sufficiency. Capitalism recycles the economy when people pursue services, as well as buy and sell goods. Limited, smaller government involvement is what allows this system to reoccur and nurture financial prosperity that is accessible to all. Although the determination a person withholds to be successful is dependent on just how much wealth you can contribute to this cycle.
Different incomes for different careers choices shouldn’t translate to "income inequality" in retrospect it represents the utmost fairness in societal structure because people are different, and it’s wrong to group an entire population in the same category; for the sake of economic growth you need different amounts of money to be circulating. Socialism turns to their idea of classless societies when faced with taxes, if taxation is "equal" among citizens meaning the rich are burdened with heavy taxation making them just as poor as the impoverished, then what’s the problem? The negative effects and immorality on taxing the wealthy completely diminishes the economy, wealthy people use their money and they buy expensive goods. It’s inhumane in a sense as well, it’s as if the government is saying, "because you worked hard to get where you are now, let me take all that you’ve earned thanks." That money should be flourishing the economy in capitalisms natural cycle, Instead the government will take it and leave the population with “equal income” in all honesty that’s sounds more like income inequality than working for what you deserve. This process won’t spark the economy and will leave a nation of workers struggling to make ends meet, or not living up to full potential.
Another issue surrounding politics and economy, is when you implant a less influential limited government Medical care can’t be a right nor should it, as a service you can’t force the population to pay for your health care through taxes. The health care system is a commodity, if you can pay for it that’s great but if you can’t it’s not anyone’s responsibility but that individual to reach enough wealth to where you can access it. If healthcare were to be a government funded system, you’re now allowing the government authority on how you handle selfcare. If you were to argue that individual need is more important than independence in caring for your own well-being than you’re defending the decision to rid autonomy, which violates everything that you claim to be yours. Not to mention the fact that socialists who believe this structure, are putting their lives in the government's hands; they will make decisions for you, they would be able to regulate the doctors, insurance policies, making it more difficult to get health insurance rather than just paying for it. Besides, through free market the prices for health care will vary depending on consumers, so people living in more poverty will have a better chance of getting medical care instead of demanding it from the government, rather than throwing out our individual liberties.
Keeping health care as a marketable good, provides tons of different types, prices, and qualities of the health care you may need. When things become a part of government manufacturing, they aren’t as efficient due to the care supplied would have to occupy thousands upon thousands of individual equipment for patients who could be in dire need. That equipment would be made of the cheapest material and not only would you have less quality of products that patients need, the wait to even get the help you demand could cost someone their life. Government interference conflicts with taxes, healthcare, and much more but one extremely important economic issue that must be protected by the people is work ethic in choosing a career path, not being held back by socialist ideas of living off the government. The largest problems with socialism is that you eventually run out of other people’s money, when you self-sustain by working how and where you want to work you’re living the American dream; which by the way is a capitalist value. The social class structure is a useful allowance of that type of lifestyle but only if you have the structural ability to move on the ladder of wealth and status, with equal opportunity and determination.
This thinking does not fall under the socialist agenda, they believe in a big government that the people depend on which is reminiscent of slavery and many fallen empires. We can see time and time again that socialism does not work, because socialism is the gateway into dictatorship, communism where the control and freedom of jobs or work ethic isn’t determined by yourself. Let’s say it hasn’t gotten to communism yet in a hypothetical country and you can choose where you want to work, everyone would want to work in the easiest career after all every job gets equal if not, extremely similar salaries. Then what would the country do without doctors or other specialized necessary jobs, if you were to say assign people into certain jobs well then who decides that, and isn’t that unfair? It’s also an invasion of personal choice.
Capitalism gives people motivation to work hard, that is why capitalist societies are sustainable, and stable on their own without government interference.
Capitalism is what keeps America the great country it is. Lack of government in the economy issues freedom in industrializing and personal choice by far it is the fairest and most rewarding economic and political system.
The opinions expressed in this publication are those of the authors. They do not purport to reflect the opinions or views of Liberty Den University or its members.