18 May Capitalism is a Virtue
There is nothing immoral or counterproductive about capitalism—in fact the opposite is true. While many activists today claim that unrestrained private enterprise is the source of societal poverty and joblessness, due to corporate greed and marketing coercion, such tenets are grossly false.
In fact, people make money by bringing value to others, whether on the large or small scale. It is good and noble for a person with a bright idea to create a startup which benefits others in some way via products or services. Thus “ripoffs” are short-lived; those who author them do not last long in the marketplace, and people on average are smarter than you think.
Capitalism Creates Wealth Through a Constant Cycle
The economy creates wealth because people engage in free exchange. When individuals are free to contract they can happily go about their endeavors doing business that benefits both parties. This also requires personal responsibility. Hence, it is all part of the human experience. We grow spiritually, mentally, physically, and learn from life based on universal laws such as cause-and-effect. Life would not be much interesting if there was no challenge.
Value is subjective. No one can prove that a given product or service is worth an objective price. Prices are set based on the needs of what others are willing to pay. When you think about it, money is truly a medium of such exchange and is not an illegitimate or unnatural form of economic interaction. While there are some who shame the very aspect of money per se—by claiming the whole world could live as a “family” by meeting the needs of each other, such thinking is void of reason and common sense.
In fact, the very notion that one sets out to earn wealth from the sweat of his brow, stores it up, and lives prudently is a longstanding virtue which built Western Civilization. It makes other people flourish, because they benefit from whatever he puts out into the market. Conversely, if he only coerces them through dishonest business or is somehow unjustly enriched—the universal, Natural Law takes over: he loses in the long-run financially, socially, and spiritually.