Assuming, also,that producers are most concerned with their own selfinterest, they will further their own cause by strivingto produce those goods which will be the most useful tosociety at the lowest possible cost. Many economists have debated that capitalism ispractical because it allows each individual to aligntheir actions with their own thoughts, instead ofacting under the demands of bureaucrats. A multitudeof minds attack each problem under capitalism. Thesuccessful thinkers thrive because they are able to seethe opportunities that the other thinkers do not. They think of new products and come up with moreefficient production methods which are innovative totheir field. Everyone is able to begin a business,raise money, and market his own product in a freemarket, and each individual thinker is free to use hisown ideas, and his success or failure is based on themerits of his own idea. The successful thinker bringsimproved and new products at a lower cost which createseconomic advance and opulence.In order to fully understand capitalism, we musthave some understanding of other politico - economicsystems. Socialism is a theory of social organizationthat advocates the ownership and control of industry,capital, land, etc. by the community as a whole. However, when an economy is run by the state, the plansof the individual are completely wiped out by theplanning of the government officials. The predominantapathy of the worker is caused by the fact that theseworkers, first of all, do not own the business, second,they have no control over the course of their owncareers, and thirdly, will neither gain nor lose fromwhatever actions they may take. The extra wealthachieved in success in an increase in production isonly used to support those who did not help to attainthis new wealth. The motto of the welfare state isfrom each according to his ability, to each accordingto his need. However, no one wants to be that ableman in such a s...
