George Reisman once again gave a splendid lecture entitled "The Benevolence of Capitalism." The thesis: capitalism promotes human life and well-being and does so for everyone. Amen, preach on!
Freedom is the foundation of personal safety and economic security. Some people think there is a conflict of security and freedom, but really freedom is the foundation of security. Why? Freedom is the absence of initiation of physical force. When one is free, one is safe and secure from common crimes. To the extent we have freedom we are safe and physically secure. Free from government, which is potentially much worse than a common criminal gang. Furthermore, where there is freedom there is peace abroad, because once again there is absence of force. Economic security under freedom derives from the fact that you can do whatever you want to do without using physical force. With the use of force prohibited, he must use his reason to find ways to increase his own well being with others through trade and production. Hence, during the age of capitalism a continuing increase in the supply of economically useable, accessible natural resources has been made possible.
BTW, I'm not going out of town this weekend, so I'll be checking up on the old blog Sat & Sun.
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