Wednesday, October 15, 2008

Capitalism Does Not Equal Greed

Capitalism is a way of funding ideas and projects. Ideas or projects are brought to the market, and people can choose to invest or not to invest based on decisions informed by individual ethics and morals. Any project or idea that is not accepted by the people choosing to invest are left unfunded. This system encourages the abuse of self interest where the payoff from investment outweighs the good of people. (example being the porn industry, bad for people; good for profits)

Collectivism is a way of funding ideas and projects. An elite (best case, elected) few decide which project and ideas are to be funded based on an ethic or morality purportedly derived from the people. Any projects and ideas that fall outside the collective process are repressed. This system encourages the abuse of power where controlling people becomes the focus for maintaining power. (example ends justify means, the common good trumps all individual digressions from the collective).

Both systems have their problems with greed. But, collectivism concentrates power and money in the hands of the government. I prefer Capitalism as a force of balance to the government's intrinsic power. Taking away the individuals opportunity to innovate is wrong for the community.

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