In response to:

Capitalism With a Human Face: A Golden Age

Daddio7 Wrote: Dec 26, 2012 8:32 AM
Buying cheap stuff feels good, losing your job because someone in Bangladesh can do it cheaper and also make your capitalist former boss more profit, not so much.
Tacitus X Wrote: Dec 26, 2012 3:30 PM
That's the problem with going by how you "feel." Someone may feel like taking your property. Try reading Adam Smith's description of division of labor principles.
FletchforFreedom Wrote: Dec 26, 2012 9:56 AM
Of course, as the article refers to anecdotally and as the statistics bear out, MORE and HIGHER PAYING jobs are INsourced to the US than OUTsourced. That economic efficiencies destroy some jobs while creating others occurs regardless of whether any specific task is done in China or Chicago. Spending less for products rauses the standard of living for ALL consumers and frees up resources to create more jobs HERE in the US.

Protectionism has NEVER benefited a country (historical dimwits claiming that it built the US notwithstanding). The free market (capitalism) has been the sole source of greater wealth.

There’s an urban legend besetting the urbane that capitalism is a system of privilege designed for the Ebenezer Scrooges of the world. Not so. Capitalism works at least as well for us Bob Cratchits as it does for misers, probably better. Capitalism is the only proven mechanism by which the workers of the world may unite to lose their chains.

The big picture is set out in a recent article in the UK’s The Spectator, a magazine that bills itself, modestly yet with a sterling claim, as “the best-written and most entertaining magazine in the English language.” (Exception: apparently these blokes...