Why Capitalism Works|5 Minute Video
Cultural representations of capitalism are nearly all unfavorable. Renowned social critic George Gilder provides this startling insight: capitalism, at its core, is first an expression of altruism; that is, of providing. This is why industrialism, and only industrialism, can create the success that all societies yearn for and why all other economic prescriptions are doomed to failure.
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Script:
Now nobody disputes that all financial systems show the intrinsic self-concern of humans. But only capitalism creates a group of people, referred to as business owners, who have no option however to concern themselves with the requirements and desires of others. These others are their customers.
Couple of economists, however, actually study the behavior of these business owners, the creative leaders of capitalist businesses. They would discover that business owners by the very nature of what they do must shun greed if they did.
Primarily, responding to others is the really opposite of greed.
Second, greed, in the economic sphere, is normally expressed as the immediate consumption of services and goods. Entrepreneurs need to begin by conserving, which is specified as passing up usage to achieve long-term goals.
Business owners should collaborate with others, building groups to accomplish their objectives. In designing their goods and services, they must– as soon as again– focus not on their own needs but on the needs of others. This, too, is the opposite of greed.
What entrepreneurs do when they seek profit is far more than self-interest. Rather, profit is a measure of how well a company has actually served others. Under capitalism, a service prospers just if customers willingly trade for its output.
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source
Cultural representations of capitalism are practically all negative. Renowned social critic George Gilder uses this shocking insight: capitalism, at its core, is initially an expression of selflessness; that is, of giving. This is why industrialism, and only commercialism, can produce the prosperity that all societies crave and why all other financial prescriptions are doomed to failure.
Only industrialism creates a group of people, known as business owners, who have no choice but to issue themselves with the requirements and desires of others. Under industrialism, a service prospers only if customers voluntarily trade for its output.
