Many Americans today do not understand the genius of capitalism. They never learned at school how the capitalism/free enterprise system has been the catalyst and foundation that has made America the most prosperous nation in the history of the world. Failure to understand how capitalism is a key ingredient of our creative, ingenious, productive and prosperous economy puts Americans and their elected officials at risk to mishandle the many political issues that affect our economy. This book is written to help cure this lack of understanding.The right of the individual to own and control property is not a right that is mentioned in the Constitution. But it is the most fundamental of all aspects of liberty and freedom. Without the right to own and control property there is no liberty.
No nation in the history of the world has achieved the widespread prosperity for more people than has America. And it is the freedom of capitalism that has made this happen.
The freedom and right to control property is what gives individuals the incentive and opportunity to create, to make, to produce and to reap profits and rewards. Capitalism is the engine of economic prosperity.
Socialism deprives itself of the diversity and creativity and personal incentives that are the foundation of prosperity in the free enterprise system.
Capitalism is not inherently bad any more than freedom is bad. Just as freedom allows for people to make choices, so does capitalism allow for both good choices and bad ones. For the environmentalists, socialism is the way to fix climate change; for them, when the government controls everything, the government can make people do the things that will stop climate change.
Socialism is just like the quest for economic security by playing the lottery.
Socialists ask what your country can do for you. Socialists insist that everyone is entitled to the wealth possessed by others. They insist that people have the right to free stuff from the government-food, housing, health care, education, a living wage, vacation and retirement.
Any time a government takes away property from those who create it through their creativity, incentive, hard work, marketing skills, and management abilities-this stifles and kills the liberties and incentives that create wealth. Socialism kills the very intangibles that are the foundation of prosperity.
Socialism is a fraud. It promises equality and prosperity for all, at the expense of the wealthy. This equality of benefits approach is touted as the new standard of morality which will lead to prosperity and freedom for all. But it is a lie. It may lead to some short-term equality of property holdings, but it invariably leads to a disintegration of the economy, at the same time bringing a loss of freedom.
C. Paul Smith is a Maryland lawyer and has been an elected official in Frederick, Maryland. He is the author of: The Fetal Right to Life Argument (1977); The State of the Constitution-2017; and The Prophet Joseph Smith-Restoration Issues (2019).
