Saturday, April 4, 2015

(Re-Post) Myth: Capitalism is "Dog-Eat-Dog"

Re-Post: This was a popular post when it first came out, so I'm running it again!

Original post 1/18/15:  One of the more effective liberal weapons in their collection of anti-captialism tools is the mantra that capitalism is system that breeds a "dog-eat-dog" mentality in the market place.  This is, of course, utter nonsense and easily refuted as Gary Galles does admirably in this article published by the Mises Institute.  Here's the opening paragraph:
When people want to add extra “oomph” to negative depictions of self-owners acting without coercion — that is, market competition under capitalism — they turn to name-calling. One of the most effective forms is describing such competition as dog-eat-dog. When that characterization is accepted, the mountain of evidence in favor of voluntary social coordination can be dismissed on the grounds that it involves a vicious and ugly process so harmful to people that it outweighs any benefits.
This is definitely a worthwhile article and does a great job of clearing away much of the confusion surrounding the nature of free-market mechanisms.