If you take a look at the global wealth distribution,
the richest 10 percent own 86% of all the
wealth while the other 90% owns the rest.
In fact, in the last 10 years, the number
of billionaires has doubled with a new billionaire
created every 2 days.
In 2018 alone, the wealth of world billionaires
increased by 900 billion dollars.
When you take a look at such numbers, it seems
like Capitalism has created the most unfair
society in human history.
These giant corporations care about nothing
but to make money at the expense of others
and the environment.
That might be true to a certain extent but
believe or not, despite all of its weaknesses,
capitalism is the best system that we have
ever had.
for much of human history, the entire world
was living in extreme poverty.
And for thousands of years, that didn’t
change.
The entire world were farmers except for the
king and the people around him and that was
the case in every other country but with the
industrial revolution and the rise of capitalism
that began to change.
And in the next couple of centuries, we have
made more progress than in the last thousands
of years.
In fact, According to the world bank, in 25
years from 1990 to 2015, over a billion people
lifted themselves out of extreme poverty and
the global poverty rate is now lower than
it has ever been in history.
It’s is one of the greatest human achievements
of our time.
And by 2030, the world is aiming to end extreme
poverty for good.
And that's mostly due to capitalism.
Since the fall of the soviet union, more and
more countries embraced free market and opened
themselves to the world which gave billions
of people all around the world an opportunity
to improve their lives
However, No matter how hard we try, there
will always be wealth inequality as long as
there is a free market because there will
be competition.
People are different, some are willing to
work 40 hours a week while others 80 and some
don’t want to work and bing watch on Netflix.
Not everyone is smart enough to build a prosperous
carrier.
Not everyone is ready to put the time and
effort to become financial literature to make
the right investment.
In fact, some people are simply careless and
would easily get into debts that they will
be paying for the rest of their lives.
On the other side, you might be born in a
wealthy family and your path to success and
wealth will be much easier.
And that's why people hate capitalism.
Freedom is great if you are disciplined, smart
and wise because you will easily be ahead
of everyone else but if you are not, you probably
will have a mediocre life.
However, the only alternative option we have
is socialism.
Which has proven to be a horrible idea.
I mean, it sounds great and noble, that's
probably why so many people find it appealing,
but in practice, it has always been a disaster.
Whenever the government intervenes in the
economy and tries to distribute the wealth
fairly, it ends up hurting the very people
it intends to help.
Even in the most Capitalistic country in the
world, the united states.
Once upon a time, education was very affordable
in the United States.
However, the government wanted to help more
people to get educated so that they can get
a better job and have a prosperous life.
So it started providing aid and student loans
to everyone who wants to go to college.
That seems like a noble thing to do, just
imagine how many people will be lifted out
of poverty, nonetheless, it ended up hurting
the students and ordinary people.
When colleges realized that government is
helping these 18-year-old kids to pay for
college, they started slowly raising their
prices.
In fact, they began to build fancy buildings,
giant stadiums to attract more students which
further increased tuition fees.
But that didn’t matter because the government
was ready to pay for everything anyway.
Fast forward to today, college is so expensive
that most people who go to college end up
becoming poorer because they will have to
pay back their student debt for years to come.
Especially when you can't even default on
it.
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