Tuesday, May 20, 2014

With Free Enterprise There Are No Guarantees

 "Capitalism offers nothing but frustrations and rebuffs to those who wish - because of claimed superiority of intelligence, birth, credentials, or ideals - to get without giving, to take without risking, to profit without sacrifice, to be exalted without humbling themselves to understand others and meet their needs."

George Gilder

In other words, capitalism demands that one reaps what one sows.

According to Gilder, capitalism's pre-requisite is to give before you get; to risk before you take; to sacrifice before you profit; and to be exalted only after and to the degree that you understand and help others.

You don't just GET in capitalism.
You aren't ENTITLED in capitalism.
You work and aren't SERVED in capitalism.

Which must be why capitalism is derided in some circles as unfair, harsh, and creates economic strata in society.  

And strata would be created insofar as one receives according to what one puts into it.  As has been said so many times and in so many places - one reaps what one sows.

Capital is employed in capitalism.  

And capital can be defined in many ways in capitalism.

Land, labor, capital and entrepreneurship are the factors that create production in capitalism.

In a previous blog I said that capital is both a good that produces and is a produced good.

And for the entrepreneur hopefully the employment of his capital produces profitable results. 


Then where are the guarantees?  Where is the free lunch?  Where is the pot at the end of the rainbow?

In any other economic system where free enterprise does not reign! 

But wait, GUARANTEES you say?  What GUARANTEES?   We want GUARANTEES!

Churchill said that socialism offers a guarantee - it's inherent virtue is the equal sharing of misery. 

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