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I’ve never bought into the belief that capitalism creates winners and losers. I’m no genius but, thanks to capitalism, I benefit by others who are. I’m not Thomas Edison, but his light bulbs mean that my day doesn’t end when the sun goes down. I’m not Henry Ford but I’ve got a couple of cars to get me where I need to go. I’m not Bill Gates, but I’m using Word to write this. I’m not Steve Jobs, but I can read news and books and make phone calls on my iPhone. When an entrepreneur wins in the marketplace, I win.
Yes, the next innovation could cost me my job. But in a free market, as long as any needs or desires exist, jobs exist to meet those needs and desires. Government is the only thing that keeps me from finding a new job. Minimum wage laws, employee mandates, hiring quotas, occupational licensing, monopoly grants all artificially limit my employment opportunities.
And the business cycle? That should be renamed the inflationary boom and bust cycle – yet another government-created lose-lose scenario.Published in