Before You Blame Capitalism…

Or talk about how terrible capitalism is…

Understand What Capitalism Is

Voluntary Exchange

Competitive Markets

Wage Labor

Private Property and the Recognition of Property Rights

Understand Core Implications of Capitalism

Understand What The Alternative Systems Are

Avoid Making Common Confusions

Understand the Difference Between Demand and “Need”

Understand the Difference Between Cost and Price

Understand the Difference Between Intentions and Incentives

Understand Where and When Capitalism Fails

Image courtesy of Investopedia.com

Highly costly resources that benefit everyone

Resources that have externalities

Other Places Where Capitalism Seems Like It’s Failing

Now You’re Ready to Blame Capitalism… or Are You?

I’m a human, living on earth, and doing Software Engineering. I enjoy reading thoughtful posts, and I even write sometimes! So, here we are.