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Duck

Is capitalism the best economic system avaiable?

Eddie:

you have given a very good argument. Glad to be on your team.

Eddie:

there are laws that are supposed to prevent monopolies.
Capitalism is the best system because
1. it rewards the individual for his work
2. it makes for greater creativity and invention. (It's worth the work if something eventually sells)
3. it can make dreams come true without government taxing other people to support one industry.
4. the standard of living under capitalism is higher.
5. Advances in medical care are more frequent
6. Everyone can try anything
you do not have to be money-mad to appreciate getting paid for your honest work. It is a wonderful system.

Ed:

Various economic systems have been modeled extensivly using mathematical models as well as computer simulations.
The most efficient economic system is the free market system (what Marx wrongly called capitalism).
Economics is all about the allocation of scarce resources. While free markets are not 100% efficient, they are very close. All other systems result in waste (often a huge amount of waste) of scarce resources.

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