Capitalism Facts

Here are some facts that i have found about Capitalism in terms of many different topics like Progress, morality, power, etc.

Isn't capitalism opposed to progress?

Capitalism is the only "progressive" system, in the proper meaning of the term. The historical evidence to support this thesis is irrefutable. Capitalism is the only system that led to the freedom of slaves, the end of feudalism, the equal rights of all individuals, regardless of race, color, sex, etc.

Isn't capitalism immoral?
No. Capitalism is the moral system, since it is the only system that allows man to be virtuous -- to pursue the good -- by leaving him free to act by the use of his reason. Freedom to act is a precondition of morality. This is Capitalism's moral justification.

What is a monopoly?
Today, a monopoly is defined as a single seller in a given industry (appropriately defined).

Are not all monopolies harmful?
Being a single seller, by itself, is not good, nor evil -- it depends on how one obtained that single-seller status. Did one obtain a monopoly by economic competition in the marketplace, or did one obtain it by political pull, i.e., lobbying? If such status is gained by competition in the free-market then the "monopoly" -- the successful business -- is good

What happens if a business attempts to charge prices higher than its competitors ("exploiting")?
If any business attempts to charge prices higher than the market will bear, he will lose all his business to his competition, since he cannot force his competition out of business. The businessman's power is dollars -- not guns.

What happens if a business attempts to charge prices lower than his competitors ("dumping")?
If a business attempts to "corner the market" by charging prices that are too low (i.e., below its' variable costs of production), the business may drive competitors out of the market temporarily (at the price of eating up its financial capital and eroding its profits); but, as soon as the business raises its' prices (in order to reap profits in order to build back the capital it has given away by selling products below their variable cost), new competitors will enter the market.

Doesn't capitalism oppose "free" education?

Capitalism supports freedom in education as opposed to the tax funded "free" education run by the state. Under capitalism, the indoctrination of the young by the officials of the state is illegal. Under capitalism, education, like food, computers, and medicine, is taken on as a private profit making enterprise, not because education is unimportant, but because it is so important (like all private enterprise this leaves room for private charity, but this is a secondary issue).

How is 'free' education funded under capitalism?

The only "free" education under capitalism is provided by private individuals, i.e., parents paying for their child's education, i.e., individuals acting as a group, e.g., church groups and non-religious groups.

All the facts can be found at: http://www.capitalism.org/