Capitalism and the Marketplace.

by guest columnist,

G. Patrick Henry

Despite the "flaws" in Capitalism, the "marketplace" is still the best check and balance system to control waste fraud and abuse, including so called, "excessive profits".

The alternative to a Capitalist political and economic system which is by Republicans, is a Socialist political and economic system, favored by Democrats.

Throughout history, Socialist political and economic systems have proven not to work for the long term benefit of the people. Socialism is too dependent upon an "individual leader" or a small group of "leaders" for it's success. Conversely, Capitalism depends upon the collective efforts of "individual" people, seeking to reach their fullest potential, unrestrained, to the greatest degree possible, by government influence. Now, of course, there is waste, fraud, abuse, and out right corruption in both systems. But, I contend, "abuses" by private sector entities are subject to the marketplace and are not nearly as damaging as "abuses" carried out by governments, including our own!

I specifically note the government Social Security and Medicare systems, two well intentioned programs, which absent "marketplace" oversight have become monumental disasters for the people! If these two woefully mismanaged "entitlement programs" were not on the books, our fiscal situation would be in great shape, including our current military expenditures and "national debt". And no one in government will ever be held accountable!

Whereas, in the private sector there is a pursuit of accountability , such as the so called "Enron" disasters of the world. Next in line is the public school system. Government involvement in the beginning was fine, but, over time, the public school system needed and still needs "marketplace " reform.

I could go on, but, in conclusion, fear not the "abuses" by Pfizer, Wal Mart, Exxon, and all the other "big corporation" and small businesses. Be more concerned with the central government planners "looking out for us".

As Ronald Reagan said, the scariest words one can hear are,

"I'm with the government and I'm here to help'!