Last week, an abundance of Twitter users tweeted using the hashtag #ResistCapitalism. Common anti-capitalism tweets included how capitalism strives off of the oppressed, that capitalism causes poverty, and that capitalism is for the rich – however, none of these are true.
Capitalism is an economic and political system through industries that are controlled by private owners rather than the government. 200 years ago, 19 out of 20 people lived off of two dollars per day; however today less than 10% of people live in this same kind of poverty. This all changed through capitalism and free enterprise. In a capitalist system, wealth is built and benefits all by creating jobs. In a government controlled economy, wealth is torn down, discouraged, and scattered making everyone equally poor. This government controlled system actually hurts more people over time, however those using the hashtag #ResistCapitalism have not grasped this concept.
The truth is that these users tweeting about resisting capitalism are using the IPhone and drinking Starbucks while using Twitter – all created from capitalism! Without capitalism, these people wouldn’t have the technology to resist anything. People who are “resisting capitalism” also most likely invest in Uber, FedEx, Dell, PetSmart, Forever21, Hobby Lobby, and so many other private companies. People with an idea made these companies happen through free enterprise.
While capitalism gives people the opportunity to create these companies, it also creates a plethora of jobs. Starbucks, for example, buys coffee and other food products, purchases appliances, hires employees, hires construction workers, and so much more. All of these products being purchased have to be made by someone which creates so many jobs. Now apply that to every private company in America – this shows just how many jobs capitalism truly creates.
It’s no secret that the free market works better than government-run systems. Uber, for example, is a company which derived from capitalism. To use Uber, you must download the app, put your credit card information in, request a ride, and someone comes to your location to pick you up for wherever you need to go. Not only is it more convenient, but it’s also cheaper than a taxi. This is what free enterprise can do – provide quick, easy, and well-priced services to Americans, while government-run systems such as taxis can charge an unnecessary amount of money and provide whatever service they see fit.
The reason why free-markets work better than the government is because private companies have to compete with each other for success. In a free market, the people determine the fate of companies. Private companies are held accountable for their actions because they’re in competition with others. When the automobile industry failed in 2009, Chrysler and General Motors failed to provide business in which people wanted. While they should have gone out of business, they instead went to Washington and received a bailout from the government. This is the government saying that they don’t have to be responsible for their actions of not providing what the people want. The government took tax-payer money to allow these companies survive, and this takes away the power of the people. This is the beauty of free market capitalism – companies who satisfy the people will stay and those who don’t will not. It’s all up to the people.
Are these free-market companies truly what those tweeting #ResistCapitalism are protesting against? In a free-market, the voluntary actions of people drives the economy – not the government. This is the America which our Founding Fathers intended for citizens. The power of the people should trump the power of the government. The government does not know what’s best for the people – people know what’s best for themselves. It is capitalism, not the government which cures poverty.