Capitalism Creates Wealth for Everybody

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Although old-fashioned, and its figures are out of date, we need to understand the main point. In capitalistic America, wealth is distributed to everybody. Yes, some people have more, but everybody has the chance to work smart and hard and to get ahead, and our system has created more wealth for ordinary people than anywhere else in the world.

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• distribution
• wealth
• America
• economy
• communism
• communist
• communists
• socialists
• socialist
• statist
• statists
• liberal
• liberals
• economic
• socialism
• capital
• capitalist
• capitalism
• riches
• money

[slmrcs]

This ignores the massive poverty of the great depression, and the post war boom caused by the US unique position after WW2 destroyed industrial capacity in Europe and Japan. It ignores how these American workers are prompted up by the American Empire and military projection around the world. Ignores the labor and union movements of the previous 100 years. This is a very narrow explanation and conveniently ignores all things that doesn't fit with its ideology.

[incomeinvestor]

@slmrcs And you are ignoring how much the world's wealth has increased in the countries that allow capitalism, and how poor the few remaining socialist countries of North Korea (compare to capitalist South Korea) and Cuba are. (Yes, I count China as a capitalist economy though not a democracy.) Thanks for at least watching the other side.

[incomeinvestor]

Even Karl Marx believed capitalism creates wealth. But according to you capitalism doesn't create wealth, so the world must now be just as poor as it was in the late 1700s or early 1800s. Or the few remaining socialist countries should be the only ones growing in wealth. I guess that's why Cubans and North Koreans eat so well while the rest of the world is starving. Shouldn't historical materialists know history?

At least you're now free to believe as you wish. Thanks for watching

[GeneralKlaas]

Yes, it creates wealth for everybody...

Then why is my family higher class and I can't get enough food the last days of the month? Why do I have to live with the decision of "Pay rent or buy food"?

Why does my country miss power and drinkable water after socialism fell? Tell me why? Maybe I know: we entered capitalism as the exploited, while you are the exploiters and the world seems all roses to you. Look outside of your country, maybe even outside of your neighborhood...

[incomeinvestor]

@GeneralKlaas You don't know me. I'm currently living in a "developing" country. I see great poverty every day - but I also can see that it's better off than it was the first time I came here 20 years ago. And I never said capitalism was finished creating wealth. Yes, there's a lot of poverty in the world, so the "job" of creating wealth is far, far from complete. If socialism did such a good job in your country, why did you get rid of it? Look outside your false assumptions.

[incomeinvestor]

Thank you for your rational, calm and highly informed response

[carcabe]

Freedom works.  It won't create a perfect world. Just the best possible world.

[slmrcs]

@incomeinvestor No. The countries that industrialized first (England, the US) where able to dominate the rest of the world, and citizens benefited from empire. North korea is very disfunctional - but no matter how bad it is there, capitalism needs to stand on its own. I'm not interested in false dichotomies. Socialist is such an over used word - it's meaningless. Democracy also means nothing. It's wrong to credit wealth created by the scientific revolution on capitalism.

[GeneralKlaas]

@incomeinvestor The job of creating wealth is far from complete because it is impossible to: capitalism is also unstable, there is a crisis every 5-10 years. The global economy is failing and most of the economies are built on deficit spending. I can see instead that it is worse in my country, only the capital developed.

[GeneralKlaas]

@incomeinvestor We got rid of socialism when all the other socialist countries fell for lack of democracy and trade. With no countries to trade with, people got rid of it through democratic elections. In 5 years of capitalism all the resources and wealth of the country got in the hands of capitalist countries when we entered capitalism as the EXPLOITED. We were like China but we didn't have the population to maintain our country. Capitalism is counter productive.

[ebread511]

Interesting argument in the descrip. Sound solid, except that we are forgetting how our system got that original wealth with which to grow "more wealth for ordinary people than anywhere else.." The answer to that is by the plunder and enslavement of, how should we say, "unordinary" people. In the U.S. it was Native Americans ("Indians," we might say). In South America, it was Native S. Americans. And so on it goes.. Whose right is that land? Whose right is the exorbitant wealth that it produced?