Difference between revisions of "Capitalism"

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Frequently it is claimed that [[capitalism]] is responsible for alleviating world [[poverty]].  Yes, some.  But Communism was also successful at alleviating poverty in the Soviet Union and China.  [[Science]] (mostly publicly funded), public [[Education]] and [[Democracy]] can also take credit as well.  Attributing it all to capitalism is [[Greedy Reductionism|greedy reductionism]].
 
Frequently it is claimed that [[capitalism]] is responsible for alleviating world [[poverty]].  Yes, some.  But Communism was also successful at alleviating poverty in the Soviet Union and China.  [[Science]] (mostly publicly funded), public [[Education]] and [[Democracy]] can also take credit as well.  Attributing it all to capitalism is [[Greedy Reductionism|greedy reductionism]].
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Some, like [[Thomas Sowell]] misrepresent capitalism as merely trade.  "Capitalism... is simply the freedom of ordinary people to make whatever economic transactions they can mutually agree to."
 
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Latest revision as of 00:12, 16 June 2021