Peace -> yup, capitalism requires stable rule of law. Why attack when you can trade. After the US invasion of Iraq, are they still paying for the oil ? It is non-capitalist countries that manipulate (or try/threaten to manipulate) the oil prices. In fact, wars represent a loss of overall value.Cryn wrote: Capitalism drives a TYPE of progress. But is that progress taking us somewhere good? Is it progress towards peace, prosperity, happiness and equality?
prosperity -> yup, history shows capitalism gives wealth (this is capitalism's slam dunk)
happiness -> yes, more wealth gives more happiness, though there is dimishing returns --- but that doesn't mean poor people are happier. Basically, money lets you change the world so it is a little bit closer to what you want. For most people this would be say home improvements and/or consumer goods that save them 1 minute here and 1 minute there. Capitalism lets people pick what they want.
equality -> there are no monarchs/classes in a capitalism, so in that context everyone is equal. In practice, capitalism results in differences in wealth. These wealth differences are mostly based on merit. However, look at the super rich Today, alot of them didn't have super-rich parents. There is reasonable "churn" in wealth distribution. Capitalism gives equality of opportunity, it doesn't mean that everyone will succeed. Perfect equality is not even that easy to define. Do you mean that everyone gets the same hourly wage or the same yearly wage ? Capitalism seamlessly works out a fair wage based on skill required, difficult and usefulness of the job.
I notice you missed out the *big* one:
freedom -> this is a core component of capitalism. Everyone is free to choose what they will buy and what they will sell. Do you think freedom is a good thing ?
Erm, what ? The "western" countries have had pretty good peace for the last 60 years. Also, if they embraced more capitalism, there would be more prosperity.A quick look around the state of the world might suggest not.
Then look at countries in Africa where they don't have solid property rights. What a shock they are poor.
What do you have in mind ? So far communism is the main alternative. That was a dismal failure in practice. According to economic theory, it had to fail.Who knows? Maybe a capitalism-free world would have enabled us to progress in other ways that would have led us somewhere better.
The problem with communism is that it requires a group of people to decide what is best for everyone. This can occur either at the central national level (like USSR) or at a more local level (like I believe the original theory proposed). However, in both cases, you are giving up freedom. People are being forced to do stuff that they don't want to do. You are replacing a person's right to decide what is important to them and replacing it with what the group things should be important to them.
Another plus with capitalism is that it spreads power out over more people. No one person runs the world economy, despite big buisness claims.