Author- William Baumgarth
Among many groups, capitalism has a negative reputation. According to the haters of capitalism, capitalism is the root of all evil. They believe that capitalism keeps people poor, and that capitalism “makes the rich, richer.” Capitalism, from what they know, is an unjust and corrupt system where only few benefit. I’m here to shed light on what capitalism is, and how it benefits the poor.
Capitalism allows all of us, including the poor, to eat for much cheaper. People, in pursuit of profit, innovated their farming techniques to create more food in a faster, and more efficient way. It is because of capitalism that the human race was always seeking technological advances, so that more could be made with less labour. As a consequence, food now is very cheap and available. 100 years ago, the working class in England had less than a pound of meat to split between six or seven family members per week. Capitalism has led to the creation of the one dollar hamburgers we see advertised today.
Capitalism also has led us to live better lives. The working poor in the United States live better than Kings did. Their lives are filled with luxuries that are now necessities all thanks to capitalism. These luxuries turned necessities include computers, heat, phones, TVs, toilets, running water, and indoor plumbing. Often, I will hear communists talk about the evils of capitalism, but they used a computer (a product of capitalism), to make their ironic statements.
People who claim to be “advocates for the global poor,” always complain that the U.S “takes advantage of the global poor, by only paying the global workers two dollars a day for their services.” They want to boycott any establishment that pays their global employees two dollars a day. The ironic thing is, if the global workers could make more than two dollars a day, they surely would. The only reason that they are working for these “evil establishments” is because these “evil establishments” pay them higher wages than any other establishments would. The global poor need that two dollars a day, it helps them eat, and helps their country develop. By boycotting, you a doing a great disservice to these people, and possibly leading to their starvation.
It is not welfare that will help people lead healthy and productive lives, it is capitalism. The one thing that poor communities in the U.S need is a sense of accomplishment and ownership, and this is done through entrepreneurship and capitalism. Handing the poor communities money does nothing to address the problems surrounding that community. The only way to pull people out of poor conditions is to create wealth in these areas. I’m not talking about artificial government wealth either. The poor communities in the U.S need fewer regulations and taxes if they are to start businesses and thrive.
It is capitalism that helps, and will continue to help the poor, both in the U.S and abroad.