I heard something I really liked when listening to my podcast of Jim Quinn‘s radio show last night as I was walking home. This morning, as I was listening to the next day’s podcast, I heard Quinn repeat his comment from the day before. Quinn read something written by Walter Williams back in 1997 that is well worth rebroadcasting here:
Capitalism is relatively new in human history. Prior to capitalism, the way people amassed great wealth was by looting, plundering and enslaving their fellow man. Capitalism made it possible to become wealthy by serving your fellow man.
Apparently this recently appeared on Rush Limbaugh’s show, too. And Rush does a great job of showing the difference between capitalism and socialism. Quinn, after quoting Williams above, further explained on his show the difference of capitalism and socialism this way:
The problem is that pleasing your fellow man requires creativity and hard work. Looting and enslaving can be done by any thug with political connections. So what’s the purpose of Socialism then? Well, Socialism allows these same elites and losers to return us to the days of looting and enslaving, but while presenting it as a moral imperative sanctioned by the government. So I guess we can say that Socialism is a system of economics that allows men to loot and enslave other men while claiming the moral high-ground.
But not everyone likes and agrees with this quote by Williams. Case in point, Williams has an entry in the Daily Kos wiki that engages is some typical libtard bashing. It quotes Williams and then finishes off with “What Williams cannot say is that the African slave trade operated as a global capitalist market for centuries.”
Attention Daily Kos mind-numbed robots: the African slave trade was not capitalism. Capitalism is the free exchange of goods and services from one to another. The African slave trade was part of the “looting, plundering and enslaving their fellow man” that was and is so common in mankind’s existence. And it is what Socialism will bring us back to if we allow it.
Williams finishes up his article with this very true statement:
Despite the miracles of capitalism, it doesn’t do well in popularity polls. One of the reasons is that capitalism is always evaluated against the non-existent utopias of socialism or communism. Any earthly system pales in comparison to utopias. But for the ordinary person, capitalism, with all of its warts, is superior to any system yet devised to deal with our everyday needs and desires.
When it comes to economics, I’ll take reality over fantasy every day.