In defense of capitalism

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This is in response to two letters to the editor in the Feb. 21 edition of the Booster, not necessarily against these two letters, just clearing up a few things.

I will begin by defining my terms so there is no confusion about what I mean by the systems I am discussing.

Socialism: A political term applied to an economic system in which property, goods, land, capital, etc. is held in common, not individual, and relationships are governed by the political ruling body. Definition taken from

Capitalism: An  economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is maintained chiefly by private individuals or corporations, the opposite of government or state-owned wealth. Definition taken from

Socialism is the economic structure that is only compatible with the political structure of communism. Socialism gives the right of ownership to the government, but control to the people, which is equivalent to controlling land but not being able to decide where to sell your crop or whether you will profit or not. The government owns the land, product or capital produced and therefore controls who benefits and can distribute as they see fit. Thankfully, socialism is not our sole economic structure, as the government cannot decide who can and cannot produce. If anyone doubts there could be a completely socialistic economic structure, please see the definition of socialism.

In our mixed economy today, most points are taken from socialism and some taken from the antithesis of socialism: Capitalism. Never has capitalism existed in its true and full form, yet it has been blamed for all the problems that have occurred.

The blame should be on the mixed economy, not on Capitalism which allows men to trade freely with each other, or not, on the basis of being mutually beneficial to both. Capitalism keeps the profit in the hands of these who produced and rightfully so, since it was that man's mind that enabled that product to exist.

Capitalism is the only economic structure compatible with the political structure of democracy that is currently in place in Canada, and is the only economic structure to do democracy justice as it puts trading and producing power in the hands of the individuals.

Before crying injustices and blaming capitalism, which isn't fully in existence, one must take a critical look at the mixed economy and ask if it is in the "public interest" and who benefits more from a mixed economy or Capitalism.

The question asked should be: Who is the public? Whom decides who benefits? Who decides whom is public? And finally, at whom's interest?

Chelsey Thomas - Swift Current

Geographic location: Canada, Swift Current

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Recent comments

  • Darren Wallace
    March 09, 2013 - 11:38

    At least we live in a social-democratic society where a person is able to write their opinion and have it published in a FREE newspaper, No matter how uninformed, out of touch with reality and poorly articulated. Not to mention the atrocious grammar and the fact that the person used 2 different sources to "define" their position. One thing is for sure........we are heading towards a truly capitalist,self centred society. This person has obviously never been ripped off by the big"grain competitors" or had to pay for education or health care. Some of us who have been on the front lines could help to enlighten who don't understand.