America is great because it provides a legal and social framework consisting of clearly understood laws, legally sanctioned contracts, and a stable currency that creates sufficient security for people to save, invest and risk their capital in the anticipation of achieving greater wealth in the future.
America is great because its capitalist system enables the average person to start with little and build a substantial estate over the course of a working lifetime. America has more millionaires and billionaires than all the other countries in the world. Fully 80 percent of wealthy American started at the bottom and earned their money in one generation as the result of starting in building capitalistic enterprises.
Where some nations have age-old caste systems or entrenched class systems from which escape to a better life is next to impossible, the free-market capitalist system in the United States presents opportunities for every individual to improve his or her life.
America is great because America is free, and should we ever lose the economic freedom that capitalism secures, our political freedom will also be gravely threatened.
This is why conservatives always champion smaller government. It’s the only way to bring more innovation, more new jobs, and more opportunities for more people.
That’s something that capitalism’s critics always seem to overlook. But it helps explain why capitalism has outlasted all of its challengers over the last century.
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