Jeff Miron PhD of Harvard on the Myths of Capitalism
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I remember reading an interview from around 100 years ago with Grandaddy Rockefeller where he was asked “When will you have enough money?” – To which Rockefeller answered “When I have a little more.”
Humorous answer, sure. Quite revealing.
Ultimately, his “harnessed greed” provided cheaper and better energy and fuel that powered everyone. The vast wealth he obtained created real, sustainable jobs for coutless people from his employees to the construction people who built those large houses he owned to his domestic servants and on and on …
If you are like me and do not choose a life such as Rockefeller’s, we all still benefit from those who run vast companies and get all those ulcers and sleepless nights.
The free market harnessed Rockefeller’s “greed” into a beneficial channel that benefits everyone even to this day. It is the companies and producers who then must compete and struggle while the consumer benefits.
Market intervention is destructive.
Parameters and standards are fine and good (as opposed to creating “regulations”) – but manipulation for the benefit of who is lining the pockets of the politicians is not. That is Crony Capitalism – that lies to the public that it is “creating a level playing field” while keeping competition away and resulting in inferior goods and services to the public.
Capitalism rewards the work of individuals and companies and ultimately benefits the consumer with better goods and services at better prices.
Crony Capitalism is the system that communist China has adopted. It is a FAKE form of a capital market that unfairly favors “brown-nosers” and “back scratchers”. It creates the worst possible situation for those who work.
Who is perpetuating this socialist lie in our American government today?
One example:
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The cleverest manipulation is truth smothered in lies like a cardboard box with icing on it that appears to be a birthday cake.
Socialism (nationalism/communism/whateverism/etc) does the exact opposite of what it promises the worker. This is supported by history time and time again.
Socialism is a lie. It seeks to allow a very few to live “high on the hog” while hoodwinking the worker into believing those in the “ruling class” are working for the “greater good of all”. While in fact they are no different from dictators and emperors of the past who bleed societies of growth and feed their phony, lavish lifestyles.
With a free market, it is ultimately the workers who have a better life.
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Category: Tony Rollo Blog
