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April 4th, 2010

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Can someone explain capitalism to me in a way a dummy can understand?

Imagine a bunch of resources lying around.
Now imagine a bunch of people.
Everybody has to choose the resource they want to work with.
Then, they begin to trade resources in order to get the necessary resources that other people have chosen.
In this way, competition naturally forms, as people with identical resources will need to offload their resources as fast as possible so they can acquire other resources, preferably with the most minimum losses.
Over time, the people develop families and the area develops populations, and the new people who are born or indoctrinated into the society need to get jobs working for one resource farmer/producer or another, and these people work hard to make sure that they make the best of the best of that resource and sell that resource for the best possible price without losing buyers to other sellers who are doing the exact same thing!
That is capitalism.

It is mainly used to combat the idea of communism where the government assigns the resources, takes all the resources produced and then distributes them without all the hassle of trade.

Historically, capitalism is a better method since the desperacy of capitalists appears to cause faster technological progress and higher productivity rates than the communists who have no reason to produce faster or better than anybody else.

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