Plenty of people are now following the trend of attacking capitalism.

There are some real abuses of capitalism happening now – due to the fact that we tax income instead of wealth and grant monopolies via our patent system (which should be abolished).

Even with these abuses though, would you want to live under any other nations system? Please don’t mention the oil rich Scandinavian countries that are only rich because they are a supplier to the US and German economies and do not pay for their own defense. Or China which is turning totalitarian like North Korea or Venezuela.

Capitalism has resulted in the USA having the most individual freedom and the best quality of life for even people in poverty. Other systems are just too easy to exploit as you can see in most other countries.

Don’t throw the baby out with the bathwater – switch to taxing wealth instead of income to prevent intergenerational transfers to incompetent people, and shut down the patent system as it is not necessary to foster innovation but just gives monopolies that extract exorbinant rents.

Capitalism in it’s pure form is just free markets… Whoever has the best service and products at the best prices wins. Amazon for example has made life better for every single person I’ve met.

Published by

Joel Gross

Joel Gross is the CEO of Coalition Technologies.