Six Myths About Capitalism

Sometimes we’re told things so often that we believe them to be true.

The blast-up effect of money heading toward the already rich. Public Doman Flash Alexander.

When we are told something over and over again, especially when we’ve heard it from our very earliest years, we believe it. We seldom question it in later life. During the years of the cold war (1947 to 1991), in order to combat communist ideology, the benefits of capitalism were over emphasized without there being any criticism of how it could possibly fall down. An example of that would be the dribble-down effect which has now been shown to be non-existent. As we now know, it’s rather the blast-up effect. Wealth gravitates towards the top at the expense of the middle classes and the poor.

Propaganda Promoting Capitalism

So given that the propaganda for capitalism was plentiful as a result of the cold war, it was never really critically examined. In addition, the idea that there was a dribble down effect encouraged government to believe that if they supported business, then even the people who didn’t own businesses would benefit. In addition, business owners were put on a pedestal so that they could do no wrong. There is also the possibility that this propanda set up various economies for laissez faire capitalism which encourage government to let go of the business of government and handed over various…