Aren’t we all tired about hearing about the “evils” of Capitalism? It appears that those on the left of the proverbial aisle have decided to spend all of 2016 and the election waging a smear campaign against capitalism and entrepreneurship. News flash: capitalism is NOT the problem. In many ways, capitalism is the answer to our prayers. Nothing pulls someone out of poverty faster than capitalism. The next time that someone tries to tell you that capitalism is the devil, hit them with these ten ways that capitalism has bettered our lives. They won’t be able to argue then.
1. Food Engineering
We want to end hunger and starvation, right? Capitalism and the need for more food have combined to engineer food that grows faster, produces more product, and is more filling to those that eat it, which has proven to be a major factor in helping fight hunger and starvation abroad. Producing food, whether we like it or not, is a business venture at times and to encourage people to produce the best food on the market, we have to let that business be profitable.
Who doesn’t love Uber? Uber is the ultimate benefit that we reap from capitalism. A business model that employs people and allows its clients to benefit from the service is a business model we can get behind. Many cities have waged war against Uber due to competition with taxi services that are unionized and charge their workers, and clients, more for the service than a competition would. If you love capitalism, you have got to love Uber and if you love Uber…you actually love capitalism.
As much as I want to begrudge Starbucks for being a left-leaning business that tries to force their own agenda, but I can’t even argue with a great capitalist business model. Starbucks coffee is objectively better coffee than you can find at a lot of places, and their convenience model is unbeatable. Between their app, their free Wi-Fi, and their order-ahead capability makes them unbeatable, and even if we don’t like their politics, we have to admire a capitalist business model that ultimately betters our lives.
Another way the capitalism betters our lives is by giving us what we want when we want it. Very few millennials remember life before Amazon. The advent of Amazon and its worldwide marketplace changed the way we live our lives, and without Amazon, we would still be trekking to a hundred different stores for a hundred different products. Though we may begrudge Amazon for taking away some business from local stores, we cannot hold it against them that they found a model that people liked and capitalized on it. I’ve yet to meet a college student who wasn’t thankful for Amazon.
The millennial mentality is geared towards instant gratification, and any business that fits into the model is going to do well. Enter Grubhub, where you can order from your favorite local eateries and have the food delivered to your door. In an odd world where many restaurants still don’t deliver, Grubhub is the answer to our prayers. The beauty of capitalism allows Grubhub to work closely with our favorite eateries in a model that benefits all parties, especially us.
6. Increased economic opportunity
While there are many businesses and business models that have arisen thanks to capitalism, we cannot forget the basic benefits we reap from a capitalist economy. When people have the ability to profit off of their ingenuity and hard work, they are more likely to be inventive and to work hard. An economy that values capitalist principles is an economy with more options for all.
7. Local small businesses
Our favorite mom and pop stores would simply not exist if we did not have a capitalist society. There would be no need for local, homegrown business if the government was running every aspect of our lives, so we can thank the capitalist gods for our favorite local hideouts and hotspots. The ability to operate a small business without government intervention allows every day citizens to become entrepreneurs and work towards a better economic future.
8. Apple Products
I cannot help but laugh raucously when people tweet “#DownwithCapitalism” from their iPhone, or write Tumblr posts about how evil capitalism is on their Macbooks. Newsflash: your Apple products only exist because of capitalism. Look around a crowded Starbucks on a Saturday afternoon. How many people are on their Macbooks? Can you imagine how long it would have taken us to get to the technology of the iPhone if the government had been in charge of the project? Technology is born from capitalism, because people are far more likely to slave away over a good product if they know they will get paid for it. It isn’t rocket science.
Look around at a healthcare system that the government tries to control. Compare it to the system born from capitalism where insurance companies have to compete for your businesses. When businesses have to compete to have you as a client, and insurance is frankly a business, then they are more likely to serve you better for a lower price. Have you been to a doctor since Obamacare took effect? It is ridiculous. As much as I want everyone to have access to affordable healthcare, that shouldn’t preclude insurance companies from having to serve their clients and not establishing a government monopoly.
10. Quest for Success
There is no better case for the benefits of capitalism than the results of capitalism. People are more excited to succeed when they will be rewarded for success. If we let the government run our lives like one large bureaucracy, no one will want to succeed. If we take away the benefits of success, success too will disappear. Capitalism betters our lives by providing more reason for us to succeed, incentivizing productivity and hard work, and truly benefiting society as a whole.