It’s not capitalism that has crushed millions of people into the dust of poverty across Africa and many other places and times around the world. Capitalism lifts people out of the dust.
What keeps the poor in grinding poverty?
Writing in the Wall Street Journal, Daniel Henninger’s column Capitalism’s Corruptions discusses the real causes of poverty (more…)
Winston Churchill suggests two ways to drive down an economy: “We contend that for a nation to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle.” and “If you have ten thousand regulations you destroy all respect for Read more…
The Economist magazine had a nice profile on the legacy of Margaret Thatcher: No ordinary politician.
Items of interest for this blog are comments about her changing the overall economic and political direction of England away from Socialist back to Capitalist.
A colleague of hers once quoted Abraham Lincoln as encouragement to her before a major speech. She pulled out a copy of the quote from her purse. The comment? (more…)
Contrasts between capitalism and socialism:
“The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries.”
Winston Churchill
Ponder that contrast: (more…)
An update of the old story:
Capitalism
You have two cows. You sell one and buy a bull.
You have lots of cows.
Socialism
Capitalism is based on morality.
It is not based on self-centered greed. Quite the opposite. It is based on serving others.
Capitalism rewards people who serve others and meet their needs. Only after meeting someone else’s needs does the provider get a reward.
In 1995, Margaret Thatcher, Former Prime Minister of Great Britain expounded on The Moral Foundations of Society.
A few of many topics she covered in that speech were the moral foundation of democracy, law, and the founding of the U.S.
Let’s see what she said about Capitalism. Following quotes are reprinted by permission from Imprimis, a publication of Hillsdale College:
The Moral Foundations of Capitalism
Margaret Thatcher passed away today.
In 1990 she gave this great explanation of the difference between capitalists and socialists while being questioned in the Commons.
[youtube=http://www.youtube.com/watch?feature=player_embedded&v=rv5t6rC6yvg]
An obvious socialist asked how she could defend policies that resulted in the gap between richest 10% and poorest 10% widening substantially. The poor were relatively less better off than the rich. How could she justify that?
Her devastating response: (more…)