Capitalism

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In common usage, the word capitalism means an economic system in which all or most of the means of production are privately owned and operated, and the investment of capital and the production, distribution and prices of commodities (goods and services) are determined mainly in a free market, rather than by the state. In capitalism, the means of production are generally operated for profit. Capitalism has also been called laissez-faire economy, free market economy, free-enterprise system, private enterprise economy, and free-price system.

I have been looking around in cyberspace today looking for articles on capitalism and free enterprise for a lesson we are starting.  I was discouraged and amazed.  By just googling “American capitalism”, I really had to WORK to find something positive. I did the general google search just to see what was out there on the subject.  I’m saddened to see how much negative there is associated with such a foundational subject in our country’s heritage.  You’d think capitalist and free enterprise thinking people were some warped, greedy group of people by what you read at first glance.  Not so…..We just got finished celebrating Thanksgiving a few days ago—maybe many don’t know what they really were celebrating?  The bountiful harvest was the result of an economic change and whether we admit or not we still enjoy the results today.  Here’s the rest of the story……

The forgotten Thanksgiving lesson

Thanksgiving is the quintessential American holiday.  We learned in grade school that it evolved from celebrations the early Pilgrims held to commemorate their bountiful harvests at Plymouth colony in the 1620s.

What we didn’t learn in school is that nearly half the Pilgrims died of starvation in their first winter of 1621. The colony’s governor, William Bradford, wrote that they went hungry because many refused to work the fields.

 Plymouth colony had the equivalent of a modern-day socialist economy.  Land and crops were held in common, and food was distributed based on need, not on production. The most able young men complained about being asked to work hard for the benefit of other men’s families.  

After the poor harvest of 1622, Bradford decided to give each household its own plot of land. They could keep what they produced, or trade their crops for things they needed.

The result was a bountiful harvest in 1623, and in the years that followed. Instituting private property and a free market economy at Plymouth and other colonies led to our annual Thanksgiving celebrations.

So this Thanksgiving, teach your children an economic lesson that the Pilgrims learned the hard way:  Socialism is a recipe for scarcity and starvation.  Private property and free markets lead to prosperity and plenty.

Ask the Pilgrims

Ron Arnold, Center for the Defense of Free Enterprise www.cdfe.org

I guess I’m just an old fashioned, born again, flag waving, SUV driving, entrepreneurial minded, capitalist pig.  Not rich, but I sure do respect the ones who have attained wealth and all they have achieved because if they can do it I can do it too! J 

Very quite contrary-  Mari