The society of serfdom lasted well into the nineteenth century until it was obliterated by the advent of capitalism. Capitalism is a term used to denote the economic system that has been dominant in the western world since the breakup of feudalism. After the collapse of communism and dictatorship during the era of big government, capitalism remains the only system which advocates the doctrine that every service including production and law enforcement be supplied through the market, and that all of government’s excesses in form of coercive activities be replaced by free market activity. During the days of no capitalism, private property existed de-facto rather than de-jure that is by tradition and sufferance rather than through right and law.
The outstanding accomplishment of capitalism can be rationalized by the productive use of the “social surplus” which is the singular virtue that powered capitalism to outstrip all prior economic system. Instead of building massive architectural structure like Saddam Hussein of Iraq did, capitalist in power of the social surplus chose to invest in raw materials, finished goods and other material forms of wealth. This same social surplus was thus converted into massive engorged productive capacity.
Bill Clinton, 42nd president of the United States, who is one of the most popular American presidents in the 20th century, referred to capitalism as the primary engine of growth. Other brilliant and outstanding political commentators also acknowledged that capitalism is of practical value, though some acknowledged reluctantly. Capitalism is recognized as the only practical economic system. Yet only few are willing to defend it as moral, due to the general but ailing believe that morality requires the free market be controlled by governmental regulations.
The capital influence of capitalism in any nation will always produce an unending moral result and a few can be discussed under the following captions.
FREEDOM THROUGH FREE SOCIETY
The first and central idea of capitalism is that people should be permitted to run their own lives as they wish totally nullifying the idea that people must be forcefully protected from themselves.
The beauty and essence of capitalism is revealed in the reality that it bans the use of physical force and fraudulent act in economic relationship. In this freedom oriented system of government, decisions are taken by stakeholders including buyers, sellers, manufacturers and distributors through active participation.
The most un-ideal word is the word ideal itself, but an ideal society is one in which there is freedom peace and prosperity for all. It is worth noting that no society in the world is ideal not even the super-developed societies of the world, but some political and economic system create a higher degree of freedom and prosperity than others.
Comparing a free society and a centrally planned or regulated society would help to out-rightly spell out the moral basis of capitalism. Politically, a free society can be described as a system of limited government also known as miniarchy, decentralization, delegation of power to the local levels, individualization and personal responsibility. In any free society, the main purpose of government is to serve and protect the right of her citizens due to the understanding that individuals are supreme. The case is absolutely counterclockwise in an un-free society. Rather than individuals being supreme the state is, rather than states serving the people, the people serve the state compulsively.
CAPITALISM SELF MOTIVATES CITIZENS TO SUCCEED AND PRODUCE WEALTH.
A free society is made up free market economy powered by market forces. It is characterized by individual planning, entrepreneurial activity, competition and spontaneity which are recipes in ensuring superior customer satisfaction and market vibrancy. Therefore no producer can hold consumers to ransom of any sort. At the birth or existence of all of this breathtaking characteristics wealth, prosperity and a commendable standard of living becomes achievable.
In an un-free society the economy is so centrally planned that those with the resources are compelled by the state to provide the needs of others
P.S. In the subsequent chapter of this article, other relevant advantages of capitalism that portrays it to be didactic will be discussed. Till then and hereafter let’s encourage libertarianism.
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