What is Capitalism and why should you care about it?

Put simply, capitalism is about individuals owning “stuff”, owning the ways to make “stuff”, and then making money off owning or selling that “stuff”.

It’s freedom and opportunity. It’s making decisions for yourself. It’s deciding between trade school or university, gas or electric. It’s about you being in control of your life, not the state, not the collective.

It’s competition and innovation. It’s “the thrill of victory and the agony of defeat.” It’s being rewarded for your effort and success; it’s paying the price for failure. It’s discovery and change, art and math.

Capitalism is about life, liberty, and private property.

 

From listening to the youth these days, it appears schools don’t spend much time on the topic of capitalism. After the crumbling of the Berlin Wall, many thought the U.S.A vanquished the great evil, communism. They assumed the remaining 3rd world countries embracing that rotting economic system would soon follow suit. Unfortunately, communism is a cancer and an ever-present threat. So long as man has a lust for power and desire to subjugate others, communism will live on. Therefore, we must educate ourselves on this topic.

The purpose for this page is to collect articles and videos that highlight some of the basics of capitalism. Over time, it may grow into something a bit more…

 

Today, PragerU owns the market on short, educational videos on capitalism. The links provided here are some of their best capitalism videos. If you enjoy their videos, please spend time on their site, learn about the other topics they cover, and support them financially.

Who are some proponents of Capitalism you should know?

 

The concept of capitalism is surprisingly new.  When measuring time by the age of the earth or the rise of man, it might as well have been born yesterday.  Historians attribute Adam Smith with capturing the concept about 250 years ago.  Since that time, brilliant minds have added detail to his observations, and in some ways have made his “invisible hand”, visible.  Those espousing the magnificent tool that fosters prosperity and fortifies liberty deserve recognition for their efforts.  The truth found in their logic pierces the fog produced by envy, and provides the common man encouragement. 

The following is a brief list of these great thinkers who espoused capitalism.  Links to information on them have been provided, so you can learn more.

 

Thomas Sowell

The man was a Marxist in high-school but then converted to capitalism.  He’s written a number of books.  His most popular book is: Basic Economics: A Citizen’s Guide to the Economy.

Adam Smith

 

Links to come:

Milton Friedman

Friedrich Hayek

Ronald Regan

Margrett Thatcher

Walter Williams