What is Pure Capitalism?
Pure Capitalism is an emphasis on Personal and Economic liberty. Inside it, there is a free market that allows creative citizens to work for their own money. More wealth for the taking promotes competition among all, which can lead to direct market stimulation.This free market promoted by Pure Capitalism gives people the feeling of earned success and diminishes learned helplessness.
Why Pure Capitalism?
Pure Capitalism can allow growth in every individual’s skills, by giving free will and choice to the creators out there, those people will be given the chance to grow. For instance, in his book Capitalism and Freedom, Milton Friedman explains “ to the free man, the country is a collection of the individuals who compose it”. The free market is meant to be adaptive to those in it, not rigid and controlled.
A Pure Capitalist system creates social classes, making society more diverse. For example, a study done by the Pew research center around 2008, recession shows that 20-43% of U.S. Citizens are satisfied with their job, the number increasing over class rank. In a society less diminished by social classes, these satisfaction numbers are more close in number. By not allowing society to have ranks and a ladder to climb, diversity will be shaved from economic factors, and there will be less economic market competition.
The economic idea of Pure Capitalism can inadvertently lead to political freedom. If government has less control with the means of production, then they have less control over social aspects. According to multiple reports done in Asian countries, Capitalism has proven to be very effective for these densely populated countries: Bangladesh, Ghana, and South Korea have reportedly hembraced the free market and are not startled by foreign investments. By not allowing for a tight grip over the economy, citizens can find greater confidence to start in the market of their country.
Why not Democratic Socialism?
In comparison to pure capitalism, democratic socialism has many negatives. One of the shown negatives of democratic socialism is France’s high rates of unemployment. According to the article “How did France get it so wrong?”, many French citizens believe that the 75% top income tax instituted by the socialist party has caused the 10% increase in unemployment. The socialist policies are also believed to be causing the stagnating economy in France
Another big negative found in democratic socialism is its play on the human sense of the “ Greater Good”. Vladimir Lenin stated “Humans are drawn to greater wealth for lesser work”, meanwhile history refutes his statement with the legacy of the American socialist colony of Jamestown, where the fruit of the people of the town’s labor was stolen so many refused to work, causing less food to be available and many in the town to starve. This idea of people working together toward the greater good is a farce, as socialism keeps the few at the bottom barely afloat at the cost of the many, bringing us to “Equality” at a lower point than when we started
A final negative of socialism is it has a usual descent into an Authoratarian communist state. In Karl Marx’s book “The Communist Manifesto” he claims that a capitalist country will eventually become a socialist on which leads to a communist one. The problem that many communist countries face is the power vacuum that is left behind by the previous leader will draw in dictators who make the people's live much worse. Such as Kim-Jung Un from the “Democratic people's Republic of Korea”, who regularly sends his own people to prison camps for 3 generations of their family and feed his own uncle to hungry dogs.