Certainly some capitalism is driven by greed (the desire to improve one’s own life, without regard for others), but is that necessarily ‘bad’?
To me, capitalism is driven by innovation and innovation is driven by ‘recognizing a need’. Once that need is recognized an innovator may be driven by ‘greed’ or possibly simply by a desire to ‘help’.
In either case, the recognized need may be ‘real’ or simply ‘perceived’. There is no guarantee that a significant portion of the potential ‘consumers’ will find a particular solution acceptable. That is the ‘risk’ facing entrepreneurs.
In a ‘free market’ the consumer has the choice. We don’t have to accept one person’s ‘solution’ to a particular problem. We, the consumer, have the final decision. We may simply conclude that the ‘solution’ is too expensive and refuse to purchase the ‘solution’. Or we may conclude than an alternative is a better ‘value’ for us. It may be perfect for one consumer and unacceptable for another. There are no guarantees and the ‘market’ will determine if a innovation is ‘good enough’. If a sufficient number of consumer find the solution acceptable, it will be economically viable and continue to be produced.
It meets the goals of both the producer and the consumer. If either party decides that it does not meet their goals it will cease to be produced.
That is the true basis of ‘capitalism’ in a ‘free market’.
No other system has been found to satisfy our needs as well as capitalism in a free market.
When the government takes our money in the form of taxes or imposes regulations, our freedom of choice is being restricted and the free market is corrupted.
Without the freedom of choice innovation is restricted and ‘less than optimum’ products and services are forced upon us. Risk is increased to the point that an entrepreneur is discouraged from developing a product or service that is not ‘approved’ or ‘encouraged’ by the government.
We know that the government has an terrible record of knowing what its subjects really want or need. No government has ever been able to provide for our wants and needs as well as the free market. First of all they cannot actually know what we ‘need’. Second, governments are run by politicians and bureaucrats who are determined to maintain their jobs and power. They naturally encourage those products and services that favor their supporters … welcome to ‘crony capitalism’. These crony capitalists are only interested in their own profits and power. These are the capitalists that give capitalism its ‘bad’ name!
We need to stop supporting ‘capitalism’, especially ‘crony capitalism’, and start insisting on ‘free market capitalism’.
With ‘free market capitalism’ we need have no concern about ‘greed’. As long as we have free choice ‘greed’ cannot harm us. We will have the option of competitive products and services and entrepreneurs will quickly fill any needs we may have that are served only by ‘greedy’ capitalists.
Governments role should be to assure the free market.
Massive regulation and the massive tax code, which invariably aid the established companies and the rich, must be reduced. Direct aid in the form of loans and tax incentives must be eliminated.
Let the consumer dictate their wants and needs and quite taking money out of their pockets. That simply limits their ability to express their wants and needs. Let entrepreneurs free to compete for our approval. We’ll all benefit and more and better jobs will be created. It’s just common sense.