Restoring capitalism will benefit economy

Editor’s Note: This letter is response to Jose Flores’ letter printed in Wednesday’s Daily Lobo,“Economy steals from poor, gives to rich,” which decried the current American economic system.

Editor,

First off, we do not live in a true capitalist system. It is absurd to believe that we do. We live in a mixed economy, one that blames the crumbles of liberty that still exist for all the failures by the strong-growing establishment of socialism.

And the last I checked, Wall Street absolutely loves government intervention. Any signs of what’s called quantitative easing from the Federal Reserve, it goes green, the stimulus, goes green, the TARP bailouts, go green.

Why? Well, because it is predictable, and Wall Street loves predictable. This failed Keynesian ideology, much driven by university professors, thrives off bubbles and busts, and leaves the less fortunate in the dust.

The rich get richer, while the poor suffer, jobless, with nothing more than a cheap unemployment handout, no real job, no real sense of self-satisfaction or purpose. In a mixed economy, it is this endless supply of morphine that the government supplies its poor to keep them sedated, away from personal responsibility, away from learning to do what it takes to survive. Then they tell them to vote for them to get more.

In a truly laissez-faire economy, such is not so. … The super-rich do not get more at the expense of the poor; cheap ways are not as readily predictable. There are multiple companies competing. Just like biological evolution, small companies can fill the niches that the large ones miss. There is not an endless supply of regulations to shackle them out of the game. In capitalism, there is no corporate welfare where politicians wine and dine with the richest lobbyists … it is forbidden, but in socialism, there is.

For every single falter that we see from government intervention, somehow, capitalism gets the blame. Then government and its power-hungry politicians prescribe more of the same morphine, and a heavier dose.

Indeed, the time has come to shake off these chains, to remove the IV and to unequivocally restore capitalism. To restore capitalism, such as in the experiments in East Germany, Soviet Russia and South Korea, would be to restore prosperity, and to relight the bright light of freedom and prosperity for all … rich and poor.

Damian Erasmus
UNM Alumnus