Giving thanks -- for capitalism

Little-Acorn

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Jun 20, 2006
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We still hear the whines and fears of liberals who believe that an entire nation full of people working mostly for their own good, can never coalesce to form a nation where the good of all is overall increased steadily, day after day, year after year.

Available evidence indicates otherwise. 200 years' worth.

A timely reprint, slightly updated.

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Jeff Jacoby

Giving thanks for Capitalism

by Jeff Jacoby
Nov. 27, 2003

Today, in millions of homes across the nation, God will be thanked for many gifts — for the feast on the table and the company of loved ones, for health and good fortune in the year gone by, for peace at home in a time of war, for the incalculable privilege of having been born — or having become — American.

But it probably won't occur to too many of us to give thanks for the fact that the local supermarket had plenty of turkey for sale this week. Even the devout aren't likely to thank God for airline schedules that made it possible for some of those loved ones to fly home for Thanksgiving. Or for the arrival of "Twilight Saga, Part 2" at the local movie theater in time for the holiday weekend. Or for that great cranberry-apple pie recipe in the food section of the newspaper.

Those things we take more or less for granted. It hardly takes a miracle to explain why grocery stores stock up on turkey before Thanksgiving, or why Hollywood releases big movies in time for big holidays. That's what they do. Where is God in that?

And yet, isn't there something wondrous — something almost inexplicable — in the way your Thanksgiving weekend is made possible by the skill and labor of vast numbers of total strangers?

To bring that turkey to the dining room table, for example, required the efforts of thousands of people — the poultry farmers who raised the birds, of course, but also the feed distributors who supplied their nourishment and the truckers who brought it to the farm, not to mention the architect who designed the hatchery, the workmen who built it, and the technicians who keep it running. The bird had to be slaughtered and defeathered and inspected and transported and unloaded and wrapped and priced and displayed. The people who accomplished those tasks were supported in turn by armies of other people accomplishing other tasks — from refining the gasoline that fueled the trucks to manufacturing the plastic in which the meat was wrapped.

The activities of countless far-flung men and women over the course of many months had to be intricately choreographed and precisely timed, so that when you showed up to buy a fresh Thanksgiving turkey, there would be one — or more likely, a couple dozen — waiting. The level of coordination required to pull it off is mind-boggling. But what is even more mind-boggling is this: No one coordinated it.

No turkey czar sat in a command post somewhere, consulting a master plan. No one rode herd on all those people, forcing them to cooperate for your benefit. And yet they did cooperate. When you arrived at the supermarket, your turkey was there. You didn't have to do anything but show up to buy it. If that isn't a miracle, what should we call it?

Adam Smith called it "the invisible hand" — the mysterious power that leads innumerable people, each working for his own gain, to promote ends that benefit many. Out of the seeming chaos of millions of uncoordinated private transactions emerges the spontaneous order of the market. Free human beings freely interact, and the result is an array of goods and services more immense than the human mind can comprehend. No dictator, no bureaucracy, no supercomputer plans it in advance. Indeed, the more an economy is planned, the more it is plagued by shortages, dislocation, and failure.

It is commonplace to speak of seeing God's signature in the intricacy of a spider's web or the animation of a beehive. But they pale in comparison to the kaleidoscopic energy and productivity of the free market. If it is a blessing from Heaven when seeds are transformed into grain, how much more of a blessing is it when our private, voluntary exchanges are transformed — without our ever intending it — into prosperity, innovation, and growth?

The social order of freedom, like the wealth and the progress it makes possible, is an extraordinary gift from above. On this Thanksgiving Day and every day, may we be grateful.
 
No one is against capitalism . The reason the us has been so successful is cause we mix that capitalism wh some regulation to keep things under control .
 
No one is against capitalism . The reason the us has been so successful is cause we mix that capitalism wh some regulation to keep things under control .

Wrong. Every Dim demonstrates his opposition to capitalism every time he opens his mouth about the subject.
 
We've seen thru history that capitalism will destroy itself if left unchecked .
 
Sure . Early 1900's. Robber Barrons, monopolies etc. by 1920s things were really getting out of control . Monopolies were killing capitalism , influencing our leaders , and destroying our environment .
 
Sure . Early 1900's. Robber Barrons, monopolies etc. by 1920s things were really getting out of control . Monopolies were killing capitalism , influencing our leaders , and destroying our environment .


We're slowly heading back towards that...We need someone like Sanders to enforce the anti-trust laws and break some of these huge corps up and force them to pay taxes.
 
Sure . Early 1900's. Robber Barrons, monopolies etc. by 1920s things were really getting out of control . Monopolies were killing capitalism , influencing our leaders , and destroying our environment .
Monopolies fail and fall apart every time they're tried... except when supported by government action.

In other words, except when capitalism is spoiled by government interference.
 
Sure . Early 1900's. Robber Barrons, monopolies etc. by 1920s things were really getting out of control . Monopolies were killing capitalism , influencing our leaders , and destroying our environment .

In 1920 the USA had the highest standard of living in the world. How does that equate to "destroying itself?"

BTW, there were no monopolies and the only real "robber barons" were crony capitalists who were sucking on the government tit. They robbed the taxpayers blind.
 
Sure . Early 1900's. Robber Barrons, monopolies etc. by 1920s things were really getting out of control . Monopolies were killing capitalism , influencing our leaders , and destroying our environment .
Monopolies fail and fall apart every time they're tried... except when supported by government action.

In other words, except when capitalism is spoiled by government interference.

And example of monopolies failing on their own?
 
Sure . Early 1900's. Robber Barrons, monopolies etc. by 1920s things were really getting out of control . Monopolies were killing capitalism , influencing our leaders , and destroying our environment .
Monopolies fail and fall apart every time they're tried... except when supported by government action.

In other words, except when capitalism is spoiled by government interference.

And example of monopolies failing on their own?
Name a real monopoly that wasn't government enforced.
 
Sure . Early 1900's. Robber Barrons, monopolies etc. by 1920s things were really getting out of control . Monopolies were killing capitalism , influencing our leaders , and destroying our environment .

In 1920 the USA had the highest standard of living in the world. How does that equate to "destroying itself?"

BTW, there were no monopolies and the only real "robber barons" were crony capitalists who were sucking on the government tit. They robbed the taxpayers blind.

There was no middle class . Just really rich and really poor.
 
What a little liar you are, Little Acorn. On the contrary, only government action breaks the monopolies and trusts up. TR Roosevelt proved that.
 
Sure . Early 1900's. Robber Barrons, monopolies etc. by 1920s things were really getting out of control . Monopolies were killing capitalism , influencing our leaders , and destroying our environment .

In 1920 the USA had the highest standard of living in the world. How does that equate to "destroying itself?"

BTW, there were no monopolies and the only real "robber barons" were crony capitalists who were sucking on the government tit. They robbed the taxpayers blind.

There was no middle class . Just really rich and really poor.

So who bought the 20 million model Ts that henry for built?
 
Sure . Early 1900's. Robber Barrons, monopolies etc. by 1920s things were really getting out of control . Monopolies were killing capitalism , influencing our leaders , and destroying our environment .
Monopolies fail and fall apart every time they're tried... except when supported by government action.

In other words, except when capitalism is spoiled by government interference.

And example of monopolies failing on their own?
Name a real monopoly that wasn't government enforced.
Standard Oil, and it took government action to break it up. When the monopolies get big enough, they simply buy the government, and people like you think that is just fine. To hell with all of you. We need to break up the banks, and any other business that is 'too big to fail'.
 
Sure . Early 1900's. Robber Barrons, monopolies etc. by 1920s things were really getting out of control . Monopolies were killing capitalism , influencing our leaders , and destroying our environment .
Monopolies fail and fall apart every time they're tried... except when supported by government action.

In other words, except when capitalism is spoiled by government interference.

And example of monopolies failing on their own?
Name a real monopoly that wasn't government enforced.
Standard Oil, and it took government action to break it up. When the monopolies get big enough, they simply buy the government, and people like you think that is just fine. To hell with all of you. We need to break up the banks, and any other business that is 'too big to fail'.

Standard oil wasn't a monopoly. Saying it wouldn't have been broken up without TR is about as meaningless as saying that if the lottery didn't exist, there would be no lottery winners. The question is whether Standard Oil needed to be broken up, and there was no rational economic argument for doing so. Furthermore, it was a violation of the owner's property rights.
 

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