Only capitalism led to the industrial revolution that has raised most of humanity out of the dollar a day / bare subsistence level that defined humanity for all of its history, the rare kings and nobles excepted.
Only capitalism is bringing power, telephone services, mobile banking and other opportunities to the bottom billions that can lift them to a higher standard of living. Even Bono has changed from calling for charity to harnessing business to deliver what people want and need, per a recent TED talk.
Dumping free things in communities displaces local producers, making them dependent on charity, while charity doesn't provide the continuous flow of goods and services people need. Like the free shoe charities that drop off what Westerners make but not what locals want, and it isn't a reliable source at that, but it does put the local shoemaker out of business. Or food aid from the West that floods local markets, instead of buying food from surrounding areas and trucking it in, so local farmers go out of business and become dependent on charity themselves.
by Earl S. Wynn 6 years ago
What is the ideal economic system? Communism, socialism, capitalism, etc?Conversely, have these systems been proven to be failures? Is there a better system?
by Grace Marguerite Williams 2 years ago
Which IS a better economic system: capitalism or socialism? Why? Why not?
by A Thousand Words 4 years ago
There's no one to step on/take advantage of anymore?Capitalism is defined as:- free-market system: an economic system based on the private ownership of the means of production and distribution of goods, characterized by a free competitive market and motivation by profit. Doesn't raise any red flags...
by buckleupdorothy 6 years ago
What would your ideal economic system look like? What would you change?
by Kathryn L Hill 4 years ago
Is Capitalism the root of all evil in America?Is it the cause of drug abuse?Is it the cause of poverty?Is it the cause of class distinction?Is it the cause of racism?Will it be the cause of the end of the world?...wondering.
by Krystal 6 years ago
What are the pros and cons of capitalism?
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