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Economic Freedom

Wallstreetatheist
Posts: 7,132
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4/16/2014 1:08:18 AM
Posted: 2 years ago
Economic freedom has done more for the poor throughout the world than any taxpayer-funded government program ever could. The embrace of capitalism and the defeat of serfdom in pre-industrial Europe led to the most dramatic increases in wealth in the history of the world. The industrial revolution"when based on foundations of individual freedom, private property, limited government, and limited regulation"improved the lives of millions of people in the Western world. It not only led to the rise of the middle class, it spurred innovations in health care, education, and other so-called social goods. As a result of these freedoms, and the innovation and wealth that they fostered, the United States became the most prosperous country in the world. Economic freedom and prosperity also go hand in hand with improved health and health care, lower infant-mortality rates, better education, cleaner water, and improved sanitation. Today, economic freedom is vital to maintaining prosperity where it exists"and to lifting people out of poverty where it does not. http://www.heritage.org...
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AnonCastillo
Posts: 12
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4/17/2014 3:44:20 AM
Posted: 2 years ago
From an evolutionary standpoint, capitalism works because it rewards people who do good things for others. To quote Richard Dawkins, "money is a formal token of delayed reciprocal altruism". What this means is, in a capitalist economy, when you do something good for someone, they pay you for it to give you a way to show others that you're the type of person who does things that help people. You then pay the people who help you so they can show others that they're the type of person who helps people and get help when they need it. The capitalist ideal is for the amount of wealth you have to be determined by how much more good you've done for others than what you've required from others.

That said, there's more to evolutionary survival than just selecting for people who help the species survive. You need adaptability and diversity, which is why freedom of speech/expression is so important and why laws that prohibit discrimination on the basis of things like race and gender that don't significantly impact your usefulness can be good. And while the market is good at rewarding good behavior, it doesn't take everything into account, and it's not that great at punishing bad behavior. You still need government to prosecute force and fraud.

Also, while capitalism in general is good, any capitalist system in practice can have plenty of flaws. Our current system, with inflation that rigs the playing field in favor of investors at the expense of wage earners, with corporate subsidies that disproportionately benefit big business, and with regulatory agencies staffed by former corporate heads who regulate more for the sake of driving out new competition than protecting consumers, has plenty of problems that get in the way of the capitalist ideal. For more on that, check out this video I made. https://www.youtube.com... I think you'd like it since it addresses the problems with our current system from a capitalist, pro-market standpoint.
Citrakayah
Posts: 1,500
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4/22/2014 7:52:10 AM
Posted: 2 years ago
At 4/16/2014 1:08:18 AM, Wallstreetatheist wrote:
Economic freedom has done more for the poor throughout the world than any taxpayer-funded government program ever could. The embrace of capitalism and the defeat of serfdom in pre-industrial Europe led to the most dramatic increases in wealth in the history of the world. The industrial revolution"when based on foundations of individual freedom, private property, limited government, and limited regulation"improved the lives of millions of people in the Western world. It not only led to the rise of the middle class, it spurred innovations in health care, education, and other so-called social goods. As a result of these freedoms, and the innovation and wealth that they fostered, the United States became the most prosperous country in the world. Economic freedom and prosperity also go hand in hand with improved health and health care, lower infant-mortality rates, better education, cleaner water, and improved sanitation. Today, economic freedom is vital to maintaining prosperity where it exists"and to lifting people out of poverty where it does not. http://www.heritage.org...


1. You really do like your plagarism, don't you.
2. There are... numerous flaws in this paper. Shall I go into them?
Jifpop09
Posts: 2,243
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4/22/2014 2:39:05 PM
Posted: 2 years ago
At 4/16/2014 1:08:18 AM, Wallstreetatheist wrote:
Economic freedom has done more for the poor throughout the world than any taxpayer-funded government program ever could. The embrace of capitalism and the defeat of serfdom in pre-industrial Europe led to the most dramatic increases in wealth in the history of the world. The industrial revolution"when based on foundations of individual freedom, private property, limited government, and limited regulation"improved the lives of millions of people in the Western world. It not only led to the rise of the middle class, it spurred innovations in health care, education, and other so-called social goods. As a result of these freedoms, and the innovation and wealth that they fostered, the United States became the most prosperous country in the world. Economic freedom and prosperity also go hand in hand with improved health and health care, lower infant-mortality rates, better education, cleaner water, and improved sanitation. Today, economic freedom is vital to maintaining prosperity where it exists"and to lifting people out of poverty where it does not. http://www.heritage.org...


I agree, but not with your word choice. Economic freedom has done wonders, but to much economic freedom kills the economy, by making the 1% to powerful.
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AnonCastillo
Posts: 12
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4/22/2014 7:25:02 PM
Posted: 2 years ago
At 4/22/2014 2:39:05 PM, Jifpop09 wrote:
I agree, but not with your word choice. Economic freedom has done wonders, but to much economic freedom kills the economy, by making the 1% to powerful.

The 1% haven't gotten powerful because of too much freedom. They've gotten powerful because inflation has driven prices up relative to wages, which increases corporate profits and benefits people who own large amounts of stock and make their money off of corporate profits.
LostintheEcho1498
Posts: 234
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4/22/2014 8:03:06 PM
Posted: 2 years ago
At 4/16/2014 1:08:18 AM, Wallstreetatheist wrote:
Economic freedom has done more for the poor throughout the world than any taxpayer-funded government program ever could. The embrace of capitalism and the defeat of serfdom in pre-industrial Europe led to the most dramatic increases in wealth in the history of the world. The industrial revolution"when based on foundations of individual freedom, private property, limited government, and limited regulation"improved the lives of millions of people in the Western world. It not only led to the rise of the middle class, it spurred innovations in health care, education, and other so-called social goods. As a result of these freedoms, and the innovation and wealth that they fostered, the United States became the most prosperous country in the world. Economic freedom and prosperity also go hand in hand with improved health and health care, lower infant-mortality rates, better education, cleaner water, and improved sanitation. Today, economic freedom is vital to maintaining prosperity where it exists"and to lifting people out of poverty where it does not. http://www.heritage.org...


I agree with you wholeheartedly. A free economy is what the world needs. We live in a world where anything is possible and getting a worldwide free economy would just be another step toward world unification. Whether someone thinks this good or bad, well that is why we are on a debate site.
slo1
Posts: 4,314
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4/24/2014 7:40:21 AM
Posted: 2 years ago
I can support the overall sentiment as capitalism is clearly the best most efficient method of distributing goods and services.

But when one starts digging into the details there is a lot of rhetoric.

IE:

- Why do they show a chart that more economically free countries issue more patents, which is a form of government regulation limiting competition. I don't understand where the "economic freedom" is in patents.

- They say economic freedom promotes environmental protections. That clearly is not a causation. It is a correlation because as individuals become more successful in an economy then more individuals have resources and time to advocate environmental protections which primary come via government regulation versus voluntary changes.

In other terms, they really don't make any attempt to withdraw the nuance and instead just give a sugar coating on "economic freedom".