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Top Six Reasons Why I Love Capitalism

Posted on January 26 2011 6:00 am

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From the time I first started having political thoughts I always believed that people should be left alone and allowed to succeed or fail. People need liberty and a system that guards their liberty.

Naturally, I love capitalism. Capitalism is good but it has a bad name. It’s not primarily about capital and investing. It is about property. It is about inalienable individual rights, especially the right to own property. As the legal thinker William Blackstone wrote:

There is nothing which so generally strikes the imagination, and engages the affections of mankind, as the right of property; or that sole and despotic dominion which one man claims over the external things of the world, in total exclusion of the right of any other individual in the universe. [Note: By “despotic,” Blackstone means “absolute.”]

It is about ownership. You own yourself and have the right to do whatever you want with your property (with a few exceptions such as initiating the use of physical force and defrauding others). It is about living for yourself.

The philosopher-novelist Ayn Rand said it best:

Man—every man—is an end in himself, not a means to the ends of others; he must live for his own sake, neither sacrificing himself to others nor sacrificing others to himself; he must work for his rational self-interest, with the achievement of his own happiness as the highest moral purpose of his life.

So here are the top six reasons why I love capitalism…

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