On July 8th, Mises.org published an article regarding the Greek financial crisis and made the suggestion that the biggest problem that Greece suffers from is an “anti-capitalist culture”. The suggestion was made that the culture in that country is one that embraces fiscal and economic policies and practices that are contrary to sound economics. Culturally, the people of Greece live in a way (with the effects of socialized government) that stand in the face of the classic capitalism.
We can see that attitude beginning to permeate further into our own American culture, where capitalism has to be defended over and over again, despite being responsible for the increased standard of living that Americans enjoy today. I have noticed over my life time this idea becoming more and more of a mainstream idea. But, the fact remains that capitalism is the only system known to man that has rescued from poverty and improved the lives of common people. Socialism, which is the favorite alternative of opponents of capitalism does not accomplish that feat. However, we hear from our gracious leaders how capitalism destroys society and that it only benefits certain small segments of the population. Nothing can be further from the truth. In fact, socialism is the system that produces that very outcome. But, never mind the proven history of societies and nations when you want to advance a false narrative.
While the United States is not yet close to becoming a Greece, the same narrative that has plighted the Greek culture today, that of capitalism being an enemy of the common man, could work to destroy that system that allows man to pursue his own separate interests to the full ability that he chooses. And I invite you to read the article at Mises.org.
Read the Mises Daily article: Greece’s Biggest Problem Is Its Anti-Capitalist Culture