Over the past few days, our President has been on a tear across the country making more than a few gaffes, if not outright lies. His slam of the Supreme Court over Obamacare and the resulting slap-down from the Fifth Circuit Court of Appeals has caught the most attention, so I’ll forgo that, at least for a while. The statement that most offended me was where he told America that capitalism doesn’t work and never has. I’m sorry, but that statement couldn’t be more blatantly erroneous.
When the Europeans first came to this continent, it was capitalism that aided the further growth in population. The crops grown here, beyond what was needed locally, went back to Spain, France and England. They, in turn, sent more goods for use here. More people came to America for a better chance at life, increasing the workforce here. This went on for two hundred years until it was determined that we no longer needed or could tolerate the abusive rule of King George III of England. Throughout this period, capitalism worked and continued to work.
After the American Revolution, the country grew. The Framers of the Constitution, in limiting the power of the government, caused the continuation of capitalism, and the young country thrived. The government never told it’s citizens what they could or couldn’t do, what they could grow in their fields, or what they could build in their shops. The whole concept of “life, liberty and the pursuit of happiness”, to Thomas Jefferson, James Madison, John Jay and the other Founding Fathers, meant that everyone had the opportunity to better themselves, not limited by government but only by themselves. The word, capitalism, never appears in the Constitution, but they are mutually supporting.
The years that followed the birth of America brought diversification and creativity. Industrialization came into being. Railroads were built to carry people and goods across a growing country. Factories sprouted next to the tracks. Capitalism provided jobs building the tracks and the factories. People went to work in those factories making the goods that went by rail to the shops where people bought them. Industrialization was one of the major reasons for the victory of the North during the Civil War. As the country grew, business opportunities grew. At the turn of the century, Henry Ford brought us mass production and the assembly line.
It was about this time that the progressive movement began, headed by Theodore Roosevelt and, later, Woodrow Wilson. Still, capitalism continued working, despite the progressive’s interference. We went to war in Europe and returned victorious. We brought back ideas and improved upon them. Our factories were busy and people were working. The Roaring Twenties were here. Life was good in America.
The crash of the stock market in 1929 hit America hard. People lost approximately $4o billion and, although there were some gains, by 1930, it wasn’t enough, and the country joined the rest of the world in the Great Depression. Almost 9000 banks folded, resulting in a lack of confidence in the economy. People stopped buying and, as a result, businesses had to lay-off their workforces. The unemployment rate rose to 25%. To add insult to injury, the “dust bowl” followed and crops failed. Although all of this was going on, it did not come from a failure of capitalism. The social programs of the United States, the so-called New Deal, was not the solution that brought us out of the depression. In fact, similar programs in Germany, along with a megalomaniac leader, brought us to a second world war. If the government in America had stayed out of the way, capitalism would have pulled us out of our woes. It ended up doing it anyway, only at the start of the war.
Since World War II, the United States has become a world superpower. Capitalism has further built the economy and infrastructure of the country. We have harnessed nuclear power for peaceful purposes. We won the Space Race, putting men on the moon. Our inventions are everywhere, making life easier and more efficient. During the same period, socialism has failed and toppled many governments. A week or so ago, our President stood at the border of North and South Korea and looked north through binoculars. He looked amazed. The sight is astounding. It is like looking back in time. Satellite imagery shows the same thing. South Korea is alive and vibrant, while, at night, few lights show in North Korea. This is a stark demonstration of how capitalism works.
So, Mr President, capitalism has worked since the birth of the country throughout its history. I have yet to see any of your policies that have worked, unless bankrupting the country is your goal. The only thing hindering it are the regulations your administration has used to strangle it. My suggestion is to get out of the way and let capitalism continue to work. Capitalism beats Obamanomics every time!
marjarhead1 