There will always be a tension between capitalism and the other various forms of economy.  Indeed, a case can be made that capitalism benefits the poor to a greater degree than it benefits the rich.

The thing is that capitalism (no matter whether it’s “pure” or not, has been much better for the world that its competing systems.

All it takes for proof is to travel to the poorest areas of the US.  There you will find poor people with cars, refrigerators, televisions, microwave ovens, cell phones, Internet access, and other products that make life easier for modern people.  Travel to the poorest parts of the rest of the world and most of these life improvements will be conspicuously absent.

According to Vasko Kohlmayer in his Front Page Magazine article from September 2009, “Having become something of a derogatory term, capitalism gets faulted for almost every societal problem and ill. Blamed for exploitation, poverty, fraud, alienation, crime, racism and nearly everything else, capitalism is increasingly cast as the great villain of our time.

The bad rap could not be more undeserved. Rather than mankind’s scourge, capitalism has been its greatest benefactor. It is, in fact, the only socio-economic system that can provide ordinary people with dignified and prosperous lives.

It was only with the advent of capitalism that the common man was able to escape the penury and filth of his existence to which he had been previously consigned. Until then, the lives of most people were short, hard and miserable.

Today, as if by a miracle, we can enjoy greater comforts and ease of life than the kings of the past. It is to capitalism that we owe this good fortune.

Capitalism is responsible for nearly everything that makes human existence easy and comfortable. The automobile, the supermarket, the personal computer, the washing machine, the hammer-drill, the iPhone, the airplane, the TV set, the chewing gum, electricity and countless other good things have all been birthed and mass produced by capitalism…

Capitalism fosters freedoms of all kinds and affords unprecedented opportunities for personal fulfillment and growth. It rewards efficiency, resourcefulness, originality and inventiveness. Those whose oddness would consign them to marginalization in less free societies often excel under capitalism…

Andrew Bernstein was right when he said that capitalism is, among other things, “the system of liberated human brain power.” Capitalism uniquely encourages individuals to realize their talents and pursue their dreams no matter how far-fetched they may seem.”

Here’s one of the most concise defenses of capitalism I’ve found to date. Howard Campbell, a character from the novel “Poker Without Cards” by Ben Mack is speaking.

“I like capitalism.  What other form of economy allows a person to leverage their common sense for great rewards?  More than any other economic system I’ve seen, capitalism allows the individual to stand on his own merits.

One is still pushed or pulled by social advantages and political influence, but your own merits contribute more than any alternative systems I’ve seen. Money, connections, and charisma open doors, but it’s your character and wits that take you to the top.  Knowledge is the application of character and intelligence.  Character is the greater part of knowledge.”

And even after discounting the abuses of capitalism by the few, I contend that Character Is The Greater Part Of Capitalism.

It is capitalism, and the freedom created by it, that has made the United States the greatest  nation ever concieved.  A few of the ancient relics of the past that were swept away by the “radical” American Revolution are state supported religion, laws banning religious minorities from voting and holding office, serfdom, slavery, primogeniture (definition) and entail of estates (definition).  Unparalleled prosperity and an incredible lifestyle for us all is the result.

What do you think?

Writing today from Chicago, IL