Presenting the moral case for capitalism \ stacker news ~econ

Presenting the moral case for capitalism mises.org/mises-wire/presenting-moral-case-capitalism?utm_source=MI+Subscriptions&utm_campaign=037fc12f3b-EMAIL_CAMPAIGN_2024_03_01_07_02_COPY_01&utm_medium=email&utm_term=0_-fb69bb184c-%5BLIST_EMAIL_ID%5D

369 sats \ 13 comments \ @Undisciplined 10 Aug econ

By Wanjiru Njoya

The socialist case against capitalism is not based upon facts of history, yet socialism is still seen as the superior moral system. Over time, capitalism creates wealth across society while socialism creates poverty.

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69 sats \ 2 replies \ @Satosora 10 Aug

"No economic system, no matter how efficient and productive, can flourish if it is widely regarded as the root of all evil."

Im not saying ayn rand is completely right, but her book Atlas Shrugged is becoming more and more true.

51 sats \ 1 reply \ @Undisciplined OP 10 Aug

I just mentioned Atlas Shrugged in my other comment. SN, nostr, and Bitcoin are the Galt's Gulch of our digital age.

30 sats \ 0 replies \ @Satosora 10 Aug

I have been rereading atlas shrugged at work. A chapter at a time. It can be a long read at times. But the world is becoming noticeably similar. Lots of incompetence.

40 sats \ 0 replies \ @160ed04091 10 Aug

i believe By encouraging investment and economic activity, capitalism has contributed to unprecedented levels of prosperity and economic growth, lifting millions out of poverty and enhancing overall quality of life

35 sats \ 1 reply \ @SatsMate 10 Aug

I love these articles from the Mises Institute. I can't believe there are institutes of socialism out there. I went to ISU, and I definitely felt lingerings of socialism from the decades prior.

https://m.stacker.news/45052

0 sats \ 0 replies \ @Undisciplined OP 10 Aug

Ironically, there are more big-money interests that support socialist think tanks than free market ones.

45 sats \ 5 replies \ @didiplaywell 10 Aug

To me the ultimate take on this is what Hayek so succinctly explains here:

41 sats \ 4 replies \ @Undisciplined OP 10 Aug

For me, the best articulation of this was in Atlas Shrugged. Of course, not everyone wants to invest in reading a 1000 page novel.

53 sats \ 3 replies \ @didiplaywell 10 Aug

I have to read that one. But regardless of all the factors that allow socialists to manipulate people, what I like of this take by Hayek is that it hits rock-bottom: leaving aside ignorance, stupidity and manipulation, once you get rid of all of that, once you have an informed, intelligent, educated, non-coerced, non-indoctrinated, well-intentioned person, he will still fall for socialism because of what he mentions. One of the aspects I'm working on is to tackle that point specifically. I'm working on that in parallel to another work I have titled "The Inevitability of Socialism"

41 sats \ 2 replies \ @Undisciplined OP 10 Aug

You would probably get a lot out of Nozick's great book Anarchy, State, and Utopia.

21 sats \ 0 replies \ @didiplaywell 10 Aug

Very interesting! Thank you for the recommendation, I'm for sure using it as contrast when I get my writings done, so to not to mix things beforehand.

20 sats \ 0 replies \ @Bell_curve 11 Aug

Great book

Definitely rereading

0 sats \ 0 replies \ @Bell_curve 11 Aug

Socialism requires coercion which is immoral

Under capitalism, man exploits man. Under socialism, it is vice versa