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Posts Tagged ‘capitalism’

CAPITALISM VERSUS SOCIALISM: REFERENCE GUIDE

Posted by Tim Bryce on March 6, 2019

BRYCE ON POLITICS

– What every young person should know.

Click for MINI-POSTER.

REFERENCE GUIDE

                                                              CAPITALISM                                SOCIALISM

WHAT IS IT? Socioeconomic system based on PRIVATE ownership of the means of production and operates for PROFIT.

Encourages independence and the rights of the INDIVIDUAL over the group.

The individual is allowed to try any endeavor, including the development, marketing and support of products and services for public consumption.

The individual is allowed to keep and enjoy the fruits of his/her labors.

Socioeconomic system based on STATE ownership of the means of production; not driven by profit.

Encourages state dependency and the rights of the GROUP over the individual.

The state dictates what products and services are to be developed, and who shall produce them.

Each person works for the state, not individually, and receives compensation in the form of shared wealth and free services.

A pseudo-Utopia.

ECONOMY Free economy; based on private buyers and sellers.

Competition flourishes and causes natural evolution of products and services through market demand (akin to Darwin’s “Natural Selection”).

Consumers free to choose the products and services they want.

Economy is controlled by the state; little, if any, competition.
Buyer has fewer choices to make.
CLASS STRUCTURE 3 levels – Upper/Middle/Lower classes.
Middle class powers economy through purchasing power.
2 levels – State/Worker classes (aka, “Master/Slave”).

No middle class, no economic engine, a redistribution of the wealth.

Workers become wards of the state.

THE INDIVIDUAL Independence encourages personal initiative and work ethic.

More earning power, but individual assumes risk.

Enjoys protection of Intellectual Property, e.g., patents, copyrights, trade secrets, etc.

Employment will experience ups and downs due to economic conditions.

Discourages personal initiative (“everyone wins”). No Super Rich.

Compensation is evenly distributed among workers.

Earning power is limited. Individual assumes no risk.

Intellectual Property is owned by the state, not individual.

Employment is guaranteed.

EFFECT ON GOVERNMENT Personal independence requires freedom and equal rights in order to function.

Requires less bureaucracy, smaller government.

Flourishes under a Republic with democratically elected representatives.

Creates dependency on state; Requires more bureaucracy (larger government) through regulation as the state controls everything, including food, education, housing, communications, health care, energy, transportation, etc.

Hinders rights and loss of liberty. Encourages autocratic rule.
Less freedom.

Click for MINI-POSTER.

Keep the Faith!

Note: All trademarks both marked and unmarked belong to their respective companies.

Tim Bryce is a writer and the Managing Director of M&JB Investment Company (M&JB) of Palm Harbor, Florida and has over 40 years of experience in the management consulting field. He can be reached at timb1557@gmail.com

For Tim’s columns, see:   timbryce.com

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Copyright © 2019 by Tim Bryce. All rights reserved.

Listen to Tim on WZIG-FM (104.1) in Palm Harbor,FL; Or tune-in to Tim’s channel on YouTube. Click for TIM’S LIBRARY OF AUDIO CLIPS.

 

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Posted in Economics, Politics, Social Issues | Tagged: , , , , , , , | 3 Comments »

THE MYTH OF EQUAL PAY

Posted by Tim Bryce on February 19, 2014

BRYCE ON CAPITALISM

– In capitalism, there is no such thing; it’s what the market bears.

(Click for AUDIO VERSION)
To use this segment in a Radio broadcast or Podcast, send TIM a request.

The president has seized upon the concept of “equal pay,” not so much from a gender equality perspective, but taking umbrage with CEO’s of big businesses making millions, while others struggle with minimum wage. Translation: the distribution of wealth. There is no doubt we are witnessing some rather obnoxious economics today, particularly by athletes, entertainers, the media, CEO’s and politicians. For example, I never understood how a backup catcher in baseball, who does nothing more than warm-up relief pitchers, can earn a million dollars. Nor do I understand why people pay exorbitant ticket prices for sporting events, particularly at the Super Bowl where it costs as much as $2,400 for the worst seat in the house. Then there is the matter of paying over $4M for a 30 second ad during the Super Bowl.

Although I find it disturbing people willfully pay for such obnoxious economics, I am fully aware of the concept involved, which is “capitalism” representing what the market will bear.

On a recent Fox News segment, I heard liberal commentator Bob Beckel champion the concept of “equal pay,” that CEOs should not be paid bloated salaries while the workers are paid much less. Beckle balked at suggesting a salary cap for executives, probably because he is reported to have a personal net worth of $10M. Naturally, this would preclude him from asking for more money for his media appearances and columns (see “hypocrisy”). In other words, he has no means for setting the bar as to what would be fair and equitable.

We may be born equal, but what we do with our lives is ultimately up to the individual. Some may become inventors, pioneers, writers, craftsmen, and captains of industry; others will become thugs and wards of the state, blaming their woes on others as opposed to assuming responsibility. Some people will succeed, some will fail, all of which is referred to as “natural selection” a la Charles Darwin. For example:

* If the minimum wage is raised, and jobs disappear, it is “natural selection” within the free market.

* If athletes and entertainers keep raising their salaries, and ticket sales fall off, it is “natural selection” within the free market.

* If the price of a product is raised to the point where people stop buying it, it too is “natural selection.”

“Natural selection” is capitalism in action.

Socialism is “unnatural selection” and the antithesis of capitalism. For example:

* If money is taxed from the rich and given to the poor, the rich will be less likely to invest in undertakings that will produce jobs and stimulate the economy.

* Likewise, if government bureaucracy inhibits companies with stifling rules and regulations, it too will have adverse effects on jobs and the economy.

* If prices are defined by the government and not the market, it is “unnatural selection.”

The concept of a “free market” is a capitalist concept, not socialist. It means the market can behave unfettered from artificial restraints as imposed by government. To make it work though, you must assume responsibility for your actions and understand the prospect of risk. The same people who endorse equal pay, are the same who refuse to assume responsibility and risk. They want it all without having to earn it which, of course, is socialism.

If you are concerned about obnoxious economics, as I am, please be mindful that every time you order expensive tickets or merchandise, or purchase $10 hot dogs and beers, you are endorsing capitalism. If the market fails to bear idiotic prices, they will inevitably go down, naturally.

Keep the Faith!

Note: All trademarks both marked and unmarked belong to their respective companies.

Tim Bryce is a writer and the Managing Director of M&JB Investment Company (M&JB) of Palm Harbor, Florida and has over 30 years of experience in the management consulting field. He can be reached at timb001@phmainstreet.com

For Tim’s columns, see:
timbryce.com

Like the article? TELL A FRIEND.

Copyright © 2014 by Tim Bryce. All rights reserved.

NEXT UP:  BRYCE’S LAWS ON LIFE – We’ve done management, systems, and project management, now how about Life?

LAST TIME:  THE TRUTH ABOUT PROJECT MANAGEMENT PACKAGES  – Do they truly support project management or are they glorified punch clocks?

Listen to Tim on WJTN-AM (News Talk 1240) “The Town Square” with host John Siggins (Mon, Wed, Fri, 12:30-3:00pm Eastern), KIT-AM 1280 in Yakima, Washington “The Morning News” with hosts Dave Ettl & Lance Tormey (weekdays. 6:00-9:00am Pacific), and KGAB-AM (650) of Cheyenne, Wyoming. Or tune-in to Tim’s channel on YouTube.

Posted in Economics, Politics | Tagged: , , , , , | 7 Comments »

WHY WE NEED A MIDDLE CLASS

Posted by Tim Bryce on August 4, 2010

Do people truly understand the power of the middle class? I think they’re starting to overseas. We may not have invented the concept of a middle class, but we sure perfected it, and everyone wants to emulate it. Since the fall of the Soviet Union, countries around the world have been reconfiguring their economic policies in order to remain competitive in a global economy. In case you haven’t been paying attention, new middle classes have slowly emerged in such places as China, Belarus, Brazil, Russia, Vietnam, and amongst South African blacks. People in these countries now have spending power thereby causing a demand for products and services, not to mention a call for construction of new houses and businesses.

The rise of middle classes around the world is significant as it is a recognition that capitalism works as opposed to socialism or communism. A sizable middle class represents an economic engine for a country. Capitalism encourages people to work and to invest and spend their money and allows a country to collectively compete. The average person wants nothing more than to earn a respectable livelihood, so they can enjoy life and raise a family unencumbered by overbearing government regulations. As President Calvin Coolidge observed, “After all, the chief business of the American people is business. They are profoundly concerned with producing, buying, selling, investing and prospering in the world. I am strongly of the opinion that the great majority of people will always find these the moving impulses of our life.”

In order for capitalism to work, you need to be allowed to have certain freedoms, such as the freedom of expression, the freedom to innovate and invent, the freedom to choose your own path, the freedom to conduct legitimate business, etc. This is why it is rather ironic how some of our former communist foes are now embracing capitalism.

In the absence of a middle class, you have just the rich and the poor (the “have’s” and the “have not’s”) which lends itself to being a feudal state controlled by dictators or monarchies. Such a state does not operate harmoniously, corruption is rampant, and unrest is common. The “have not’s”, which is a sizable majority, have little to earn and spend. Consequently, the economy sputters and stagnates which our communist friends discovered the hard way.

As mentioned, in order for capitalism to work, certain freedoms have to be permitted to allow a person to work, earn, and save their money, not to have it redistributed to others by government decree. This means there is an explicit relationship between freedom and capitalism. Implicitly, it means capitalism requires a certain amount of democracy to allow the citizens to participate in how the government runs, which means capitalism cannot work under a dictatorship (see Cuba, Iran, North Korea, et al). As an aside, it is the middle class who elects government officials, not the upper or lower classes. The upper class may support politicians economically. but it is the middle class that casts the votes.

When someone asks me about my political leanings, I tell them I am an unabashed capitalist. This of course means I believe in liberty, and the right of the individual to lead a meaningful life, and I abhor any attempt by government to alter this or forcibly redistribute the wealth earned by the individual. I can understand government monitoring the legality of someone’s occupation, but aside from this they should not hinder a person’s right to earn a living.

Capitalism is our greatest export. It represents the seeds of freedom and economic prosperity. If it spreads, it could lead to world stability and peace which, of course, certain tyrants and crackpots openly reject. For example, Iraq will be an interesting experiment in capitalism. If Iraq succeeds, freedom and democracy will succeed, which is why Middle Eastern terrorists desperately want to see it fail as it represents a challenge to their authority. It’s not so much about religion as it is about control. Capitalism is a genuine threat to feudalism, a system which has no regards for the rights of the human-being and respect for the human spirit. Make no mistake, feudalism is barbaric.

To summarize:

1. In order to effectively compete in a world economy, you need capitalism.

2. In order for capitalism to flourish, you need freedom and democracy.

3. A byproduct of capitalism is a sizable middle class with spending power.

4. Therefore, any attempt to change capitalism is a threat to freedom, democracy, and the middle class.

No, I am not a proponent of government sponsored bailouts, stimulus packages or the creation of artificial jobs. Such devices does capitalism a disservice and is unnatural. It is not government’s role to tamper with capitalism, only to establish the environment for capitalism to flourish, namely assuring freedom and democracy, serving its constituents, and providing incentives to encourage new avenues of business.

Yes, the failing financial companies and automotive manufacturers should have been closed. They were corrupt, made bad decisions based on greed and stupidity, and do not deserve any sympathy for their plight. If they had been allowed to fail, new institutions would have surely been created to replace them which would have been leaner, stronger and smarter. It’s called “evolution.” By bringing back our right to fail, you assure our right to succeed.

Keep the Faith!

Note: All trademarks both marked and unmarked belong to their respective companies.

Tim Bryce is a writer and the Managing Director of M. Bryce & Associates (MBA) of Palm Harbor, Florida and has over 30 years of experience in the management consulting field. He can be reached at timb001@phmainstreet.com

For Tim’s columns, see:
http://www.phmainstreet.com/timbryce.htm

Like the article? TELL A FRIEND.

Copyright © 2010 by Tim Bryce. All rights reserved.

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