Capitalism works.
No other economic system has successfully lifted more people out of poverty worldwide, even when imperfectly implemented. Countries with robust legal protections for private property, free trade, and lower levels of regulation and restrictions enjoy greater economic prosperity and quality of life.
Capitalism increases happiness.
When people are free to choose which goods and services to buy and sell, satisfaction increases. That’s a no-brainer. Not only does capitalism make entrepreneurs and consumers happier, it makes workers happier, too. More businesses like yours mean more jobs, and more jobs mean more chances for workers to find their life’s purpose.
Capitalism makes us better people.
Not only does the exchange of goods, services, and ideas improve relationships on a national level, it also improves relationships on an individual level, too. We don’t have to like someone to trade with them. But as we trade with each other, we learn more about each other, our wants and needs, our priorities and preferences. Capitalism humanizes us.
“The most important single central fact about a free market is that no exchange takes place unless both parties benefit.”
“Indeed, a major source of objection to a free economy is precisely that it… gives people what they want instead of what a particular group thinks they ought to want. Underlying most arguments against the free market is a lack of belief in freedom itself.”
Myth
Capitalism promotes inequality.
Reality
“If entrepreneurs did not think that a possible reward for all the sacrifices they make – all their hard work, all the risks they take – is a lot of wealth, then they might do something else instead. And in that case, we would not have the goods, services, and technologies that make our lives better.”
Capitalism is structurally racist.
“If your concern is racial discrimination, capitalism is your best friend. And that [is] because capitalism puts a price on discriminating.”
Capitalism is bad for the environment.
“I think we can be fairly confident that if we leave the energy production to the natural forces of competition and markets, that we will have abundant sources of energy which are cheap, sustainable, and clean.”
Capitalism is a fundamentally rigged system.
“Capitalism and our free enterprise system are concerned with individuals and businesses having the opportunity to compete on their own merits to achieve economic success and realize their own personal American dreams. By contrast, cronyism places favoritism ahead of merit, giving special treatment to some individuals and businesses over others to give them an advantage over their competitors. Simply put, cronyism is the antithesis of capitalism and free enterprise.”
Business owners like you make up a huge constituency, but special interest groups try to pit you against each other so you’ll forget how much you have in common. You’re all capitalists. And that’s a good thing! It’s time for entrepreneurs, mom-and-pop shops, and all manner of business owners to truly understand what capitalism is, why it’s good, and what they can do to defend it. Free To Choose® Network is here to help.
Free To Choose Network is a global media 501(c)(3) nonprofit organization that brought you Milton Friedman’s original 1980 10-part television series, Free To Choose. It continues to use accessible and entertaining media to build popular support for personal, economic, and political freedom.