Thought’s on Capitalism and an Opposing System

There is much confusion about capitalism, what it is, and how it works. Dr. Walter Williams, economic professor at George Mason University has a good article to answer these questions. It is a misunderstood economic system that has never been completely tried in the U. S., like other systems tried or in current use in the U. S. we currently have some capitalism, socialism, and a mix of other systems. We might be more clearly defined as a free enterprise system.

The current debate about reforming health care is an exercise by a group of elites setting the priorities for the populace, things they continue doing, apparently because the populace isn’ smart enough to decide what is good for us. Another one of my favorites, uses a childhood story to bring home the point that we are often times better off with what we have than in what our neighbor has that we might think is bigger or better than what we have.

Dr. Sowell uses the childhood story of a dog with a bone in its mouth who crosses a stream walking on a downed tree. Looking down the dog sees a larger dog with a larger bone in the reflection from the stream. He decides that he would like the bigger bone so he drops his bone and jumps in the stream to get the other bone. Of course, the bone he dropped couldn’t be found and so he ended up without a bone.

We may all end up without any bone as well.


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