The Present Economic Revolution in the United States

By Thomas Nixon Carver | Go to book overview

CHAPTER EIGHT WHAT CAPITALISM IS AND WHAT IT DOES1

I

WHATEVER may be said against capitalism it has at least abolished famine in every country where it has been permitted to develop freely. That is more than can be said of any noncapitalistic system that ever existed. The worst that can be said against the capitalistic system is that it has not yet abolished inequality of wealth. Those inequalities which still persist, however, are not essential to the capitalistic system. In fact, where capitalism is given a chance to develop freely, unhampered by social and political obstacles, it tends to eliminate its own inequalities and secure not only great abundance for everybody, but to distribute the best things of life more evenly than any other system has ever succeeded in doing.

In spite of all the inequalities which persist under capitalism the masses of the people are better off under it than they have ever been under any other system. In fact, they are better fed, clothed, housed, and supplied with the adornments and embellishments of life than any but the rulers and a few heredi

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1
See two articles by the author in the Youth's Companion entitled "What is Capitalism?" and "What Capitalism Does", in the issues of July 3, 1924 and July 24, 1924, respectively.

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