The recent letter from Muhammad Yungai, "Maybe capitalism isn't such a great system," shows that most people know very little about capitalism, socialism, communism, or slavery.
Yungai's example of his one-dollar charge turning into $40 is not capitalism; it's greed. Capitalism is an economic system characterized by private or corporate ownership of capital goods and by prices, production, and distribution of goods that are determined mainly in a free market. In a capitalist society, anyone can have an idea and start a business, except when government over-regulates.
Socialist and communist nations run almost all businesses. In socialist and communist nations, only the top party members live very well. In communist nations, you own nothing. Two of my friends' family homes were taken in Cuba by high-ranking Communist Party members because they liked the view. Only capitalism gives people an incentive to improve. Slavery has been going on for thousands of years in all nations all over the world. Slavery did not just take place in the United States. Slavery still goes on in parts of Africa, Asia, and the Middle East. Most people in this country are homeless because of drugs or mental disorder. Some places have homeless people because of over-regulation — such as in California with its strict building regulations. People need to study world history.
retired postal worker