Memo to Capitalists: Be Very Afraid

As long as people have different worldviews, there will be vigorous debates about the effectiveness, fairness and morality of capitalism compared with other economic systems. But common sense supports history's empirical evidence in validating the generalized notion that robust economic production will accompany political and economic liberty rather than command and control systems.

People will produce more when they are allowed to retain more of the fruits of their labor. You simply cannot expand the economic pie by separating rewards from efforts. To do so is a failsafe prescription for economic stagnation -- if not immediately, then in the long run. Yet the current administration and its wholly owned congressional partners have embarked on a course to destroy capitalism from every imaginable front.

Sadly, far too many Americans are apparently oblivious to the magnitude and peril of this systemic assault. They are also obviously unaware that the constriction of economic freedom will necessarily result in a constriction of political freedom. When the government, instead of the free market, picks winners and losers, it exercises coercive power in employing its value judgments. If it has a prejudice against capital and favors labor, its decisions will reflect those biases, at the expense of the rule of law.

Read the whole thing!