Human greed has given capitalism a very bad reputation. Greed, unfortunately, is part of human nature hence greed is prevalent in any model of society, whether it is communism or capitalism.

It was the entrepreneurial spirit of the middle classes that gained economic independence beginning with private property rights in Europe that first removed some of the power of rulers. These were the first beginnings of democracy as we know it in the Western world today.

Without capitalism, we could very well still be living under a feudal system were peasants worked for nothing and the lords and aristocracy kept all the money. Capitalism for the first time gave the peasants a way to determine their own destiny if they worked hard and used ingenuity. It was the economic success of the middle class that applied pressure to the political system that forced the institutions to introduce fair and equal rights throughout society.

Although no society could ever possibly be totally equal, what we have today in America, Australia, England, and Canada, to name a few countries, is certainly not perfect but definitely exemplifies the fairest societies in the history of mankind. This is essential to recognize and defend.

Although life may not be perfect for everyone in society, children are not dying in their mothers arms from starvation and civilians are not being tortured by some mad dictator. Women are allowed to vote, drive, and wear what they choose. Tolerance of race, religion and creeds is what we stand for.

Capitalism is worth defending but checks and balances often need to be updated with the needs of changes in society. The criminal activity of white collar workers in companies like Enron needs to be checked to ensure honest peoples interests are protected and to enjoy market confidence which bolsters the economy. These white collar criminals should be brought to justice, setting an example of zero tolerance for white collar crime.

To reduce the risk of another Enron debacle, regulations needed to change regarding corporate auditors. Auditors have to change more frequently so they are not in bed with corporations for the long term, potentially increasing the risk of them becoming partners in crime. Transparency is corruptions worst enemy.

This is the closest example to a perfect solution society can have. punish those individuals responsible, implement measures to reduce the risk in the future, don't over regulate and let the economy flourish to provide a reasonable standard of living.

Please note the Enron fraud was not a result of "capitalism;" it was a result of "criminal" activity, and crime happens in every society, capitalist or not. 

It is the capitalist model that has proved time and again around the world to be most successful for a fair and balanced society, taking into consideration real human attributes rather than an idealistic theory such as communism, which does not account for the true nature of human behavior and motivation. Although not perfect, as no model ever will be, history clearly demonstrates over the past century a direct correlation between capitalism, a free market economy, democracy, and a better quality of life for society.

End.

INSTINCT

Ideas pull the trigger,
but instinct loads the gun.

- Don Marquis

Book Recommendation

"The Future Of Freedom" By Fareed Zakaria

LIBERTY AND DEMOCRACY.

The two go hand in hand in popular thinking, fused by more than two hundred years of U.S. history. More democracy means more freedom. Or does it? At a time when democracy is transcendent, the one political system whose legitimacy is unquestioned, this deeply important book points out the tensions between democracy and freedom. It ranges widely through the past and present to remind us that we can have too much of a good thing.

Take American democracy, in many peoples' minds the model for the rest of the world. Fareed Zakaria points out that the American form of democracy is one of the least democratic in use today. Members of the Supreme Court and the Federal Reserve- institutions that fundamentally shape our lives-are appointed, not elected. The Bill of Rights enumerates a set of privileges to which citizens are entitled no matter what the majority says. By restricting our democracy, we enhance our freedom.

Nonetheless, we fall into the mistake of thinking, both at home and abroad, that the answer to problems is always more democracy. But look at the pos- Watergate reforms, which opened up politics. They brought into the halls of Congress not the voice of the people but the cries of special interests, well- organized minorities, and money. American government today is democratic than ever before-and also more dysfunctional.

Abroad, the problem is that the spread of democracy has not produced a corresponding growth of liberty. We are seeing in many parts of the world, from Russia to Venezuela to the Palestinian Authority, a strange creature-the elected autocrat. In the Arab world in particular we see societies trapped between repressive dictatorships and fanatical masses. Is there a way out?

There is. Zakaria calls for a restoration of the balance between liberty and democracy and shows how liberal democracy has to be made effective and relevant for our times. Woodrow Wilson said the challenge of the twentieth century was to make the world safe for democracy. As we enter the twenty-first century, this timely book challenges us to make democracy safe for the world.

FAREED ZAKARIA is the editor of Newsweek international, a regular columnist for that magazine's domestic edition, and a political analyst for ABC News. He received a B.A. from Yale and a Ph.D. from Harvard. He lives in New York City." From "The Future of Freedom" By Fareed Zakaria

This is not a paid advertisement and given in the spirit of sharing very valuable knowledge. I consider Fareed Zakaria's book an essential read. As the world looks to collectively assist rebuild Iraq whether by relieving debt, building infrastructure or not protesting against, the inaccurate claim, of US occupation it is important we all have a complex understanding of democracy. Iraq cannot rebuild without international assistance which the US is very successfully achieving with help from over 25 countries. A stable Iraq is a victory for the Iraqi people and another win in the War on Terror at this very critical time in global stability and safety of civilian's world wide.

For more information on Fareed Zakaria click here.
To purchase book online: Amazon