Friday, December 5, 2008

Economics 101

I posted this to a friend's blog today, and wanted to repost it here:

The problem in America today is not the "greedy guys" of capitalism. Our nation's wise founding fathers, unlike the Marxists and other misguided dreamers, knew that the smart thing to do was not to try to throttle capitalism with a government rope but rather to get out of its way and let it run like a river.

What does a "greedy" businessman do? He works long hours and risks his shirt to make his dream succeed. He makes his product more efficient and less costly, so that it will outsell his competitor. Society benefits. If he tries to cheat and cut corners, in a free society he eventually gets caught, his competitors pounce and his customers go away.

What happens in socialism? The government curses "greed" and tries to control it. And shoddy products are made by lackluster factories, if at all,with a sour attitude towards any fool who tries to purchase them. Ask anyone who lived through the shadow days of the Soviet empire.

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