: Isn't it obvious by now that socialism and communism just DOESN'T WORK?!?!
Dont worry, its never really been tried, never will be - even though its all inevitable etc etc.
: Capitalism works because it rewards the risk that Bill Gates took when he started Microsoft. Today he is worth more money than anybody can imagine, but I truly believe he deserves every penny. Maybe he does have a monopoly... the government is there to regulate capitalism since it can get out of hand and will without laws.
Oh dear, you may aswell have said 'capitalism is a big bad wolf and I want big gubment to pwotect me fwom it, boo hoo". Poeple seem to know precious little about monopolies, I think its because there is the prevailing belief that economics is zero sum, and that competition is win or lose with nothing in between. Also any large company is assumed to have infinite reserves to fight off any contender whilst producing products of less utility. Common enough fallacies, cant blame you if you thought it might be like that.
regulated capitalism is a mixed economy. Free trade restricted by regulation is not free trade - to suggest it is top contradict. If you will forgive me for repeating the chant of socialists with the word changed - "genuine capitalism has never been tried yet"
: Think about all the wealth Bill Gates has ALSO created for the employees of Microsoft! Many of them are millionares too! Plus, the shareholders of Microsoft have benefited, and that includes "Regular Joe's" like you and I who may just own 10 shares.
Yup, one man alone cant earn billions (just for you RD), he needs others too - an theyre pretty rich because of the voluntary association, all that associating to mutual benefit, my word!
: Only under a capitalist society can one person rise from poverty and with the right idea and skills, become a millionare.
And despite the insistence that this doesnt happen the majority of millionaires in the US, and even in Britain were of average economic measn when they started out. Wealth grows, it isnt static.
: It seems you forget that hundreds of others benefit too. And you can't very well take it with you... all that money usually ends up in the hands of charity.
Actually it usually ends up staying in the investment cycle and making more wealth for all and sundry. Often large portions ends up in heirs hands and yes, millions end up in charitable concerns. Look up how many Carnegie and Rockefeller libraries and institutes there are.
: If there are too many steel mills built in the U.S., then some either merge or go out of business... it's survival of the fittest.
Its not. Its survival of the fit. You dont have to win the whole thing thus assigning all others to doom. That doesnt happen. If there isnt enough demand for steel then capital drifts elsewhere, some people lose jobs others gain jobs - the net effect being growth.
: Granted, that's a simple example, but I hope the point is clear. The laws of supply and demand are basically what make up capitalism.
Slightly better termed effective supply and demand, but yes.
: The government's place is to regulate and control capitalism. The extreme view that capitalism with NO government intervention works about as well as communism!
Whilst you might receive criticism from socialists about claiming that doesnt work and demand evidence etc, they will simply nod in agreement to this last sentence without asking for anything more. My but we are selective!
Any, you should have said you were proud to be a 'mixed enocomy trader'!