Why I Believe Capitalism Is the Best Economic System in the World

wall street bull

The famous Wall Street bull. (Arch_Sam/Flickr)

Ah, capitalism.

Capitalism is defined by the Oxford Dictionary as,

"An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state."

Capitalism is the best economic system in the world. It allows people to own businesses and obtain wealth. Capitalism rewards hard work and success, and in doing so leaves power with the people and not with big government.

People from communist countries have fled to America to live in a capitalist society. Capitalism is also the inventor of many amazing gadgets used on a daily basis, such as the iPhone, and social media sites like Facebook, Instagram, and Twitter.

As many people have noticed, there seems to be an alarming trend of millennials who are rejecting capitalism. This is scary and it speaks to the volumes of unawareness in our society.

Some polls say that among young people, socialism is viewed as more favorable than capitalism or prefer the two systems about equally. (And at least one poll says they reject both.)

As a millennial, this frightens me. It is alarming and disturbing that my generation does not understand why socialism is a nightmare and will ultimately decimate the beloved American Dream.

Socialism is death. Socialism kills motivation. Socialism kills individuality. Socialism kills growth. Socialism is hell on earth. Under a socialist society, everyone is equally poor. About 50% of all citizens income goes to big government to pay for everyone's "free" stuff.

But big government politicians will never tell anyone this. It is the ultimate lie that we can somehow live in a society where everything is "free." Nothing is free. Somehow, someone will always pay for it.

It is better to live in a capitalist society where people are allowed to have their own money (with relatively little taxation) and the option to pay for their own necessities, than it is to live in a socialist society where the government takes half of everyone's earnings to pay for everyone to live in poverty.

This is the reality and the truth. To all millennials who claim to hate capitalism so much, I warn you to be very careful what you wish for. Capitalism allows political freedom, economic growth, and entrepreneurship. It is the best system we have in the world and it should be valued, cherished, and protected.

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Why I Believe Capitalism Is the Best Economic System in the World

Gabrielle Seunagal

Gabrielle Seunagal is a conservative millennial. Politics is her forte. She is a huge Donald Trump supporter and loves sharing her opinions with the world.

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