I am my Brother’s Keeper

A major criticism of free market capitalism is that it breeds a “me first” mentality.  Nothing, and I mean nothing, could be further from the truth.  In a free market, the only way for a person or firm to succeed is to serve their fellow man.  All market transactions must be voluntary, otherwise the transaction will not occur (this is a definition I keep harping on because it is often forgotten).  Therefore, both parties must offer something the other wants for a price the other finds acceptable.

Free market capitalism thrives on servitude to each other.  It requires it.  Socialism, communism, and crony capitalism, on the other hand, do not.  Those system thrive on classes, the many working for the benefit of the few.

8 thoughts on “I am my Brother’s Keeper

  1. Agreed. Said a long time ago that no successful capitalist can keep all the benefits of his capitalism solely to himself.

    Those that fail to understand that are those who do not know what capitalism is and how it works.

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  2. Surely the liberals can see that.
    As you know I like to explore the liberal mind and I think what they have is a religious belief in “wouldn’t it be nice if”. That is, they see the market doing all this wondrous stuff and a few are so good at making wondrous stuff that they are richer than the rest of us. “Wouldn’t it be nice if” they could also pass out their excess profits to us. So strongly do they believe in “wouldn’t it be nice if” that they give that wish the authority of a violated right.

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      • I agree, Jon. Using a word like excess implies a wisdom that even Christ might enjoy. What is an excess profit, and who makes the call?

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    • And of course those who are good at making wondrous stuff are NOT richer than the rest of us. (from our point of view) They have provided us with more benefit than they accepted from us in exchange, or we wouldn’t have bought the wondrous stuff.

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  3. BTW Jon, looking more closely at your post, I have this criticism. “and crony capitalism, ” Crony capitalism?” What is that? I can see a definition of cronyism and a definition of capitalism; but, I see no possible way to connect the two together as one thing. As educated and promising as you are, surely you recognize that when you mistakenly use that mistaken term, that you give legitimate license to the opposition to continue demonizing capitalism in the use of the term.

    Words do matter – all the time – every time they are used. Especially when the opposition is so good at parsing words and crafting disingenuous slanders.

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  4. “Voluntary transaction”-
    The only cost to not enter into exchange is lost opportunity.
    As opposed to coerced transactions, often prescribed by govt as a solution to perceived ills in society, real or not, voluntary exchange doesn’t occur unless the exchanging parties are satisfied with the terms.

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