Here is a Round Two of John Stossel’s staunch defense of Capitalism. These are my favorite points:
“Wealth created by capitalism lets us afford safety devices and build machines to do dangerous work. The OSHA is like someone jumping in front of a parade and claiming he led the parade. “We need more capitalism because when people get rich, they can afford more safety!” adds Mitchell.”
“Because of capitalists like them (Rockefeller and Vanderbilt,) Mitchell points out,”We went from agricultural poverty to a country characterized by middle-class prosperity.”
“As long as our economy has the dynamism that free markets allow,” says Mitchell, “we’re going to see more job creation and higher income levels. That’s what makes the children and grandchildren of typewriter makers so much better off. No other system anywhere in the world has ever come close to capitalism’s ability to generate mass prosperity.”