If you take a look at the global wealth distribution, the richest 10 percent own 86% of all the
wealth while the other 90% owns the rest.
In fact, in the last 10 years, the number of billionaires has doubled with a new billionaire
created every 2 days.
In 2018 alone, the wealth of world billionaires increased by 900 billion dollars.
When you take a look at such numbers, it seems like Capitalism has created the most unfair
society in human history.
These giant corporations care about nothing but to make money at the expense of others
and the environment.
That might be true to a certain extent but believe or not, despite all of its weaknesses,
capitalism is the best system that we have ever had.
for much of human history, the entire world was living in extreme poverty.
And for thousands of years, that didn’t change.
The entire world were farmers except for the king and the people around him and that was
the case in every other country but with the industrial revolution and the rise of capitalism
that began to change.
And in the next couple of centuries, we have made more progress than in the last thousands
of years.
In fact, According to the world bank, in 25 years from 1990 to 2015, over a billion people
lifted themselves out of extreme poverty and the global poverty rate is now lower than
it has ever been in history.
It’s is one of the greatest human achievements of our time.
And by 2030, the world is aiming to end extreme poverty for good.
And that's mostly due to capitalism.
Since the fall of the soviet union, more and more countries embraced free market and opened
themselves to the world which gave billions of people all around the world an opportunity
to improve their lives
However, No matter how hard we try, there will always be wealth inequality as long as
there is a free market because there will be competition.
People are different, some are willing to work 40 hours a week while others 80 and some
don’t want to work and bing watch on Netflix.
Not everyone is smart enough to build a prosperous carrier.
Not everyone is ready to put the time and effort to become financial literature to make
the right investment.
In fact, some people are simply careless and would easily get into debts that they will
be paying for the rest of their lives.
On the other side, you might be born in a wealthy family and your path to success and
wealth will be much easier.
And that's why people hate capitalism.
Freedom is great if you are disciplined, smart and wise because you will easily be ahead
of everyone else but if you are not, you probably will have a mediocre life.
However, the only alternative option we have is socialism.
Which has proven to be a horrible idea.
I mean, it sounds great and noble, that's probably why so many people find it appealing,
but in practice, it has always been a disaster.
Whenever the government intervenes in the economy and tries to distribute the wealth
fairly, it ends up hurting the very people it intends to help.
Even in the most Capitalistic country in the world, the united states.
Once upon a time, education was very affordable in the United States.
However, the government wanted to help more people to get educated so that they can get
a better job and have a prosperous life.
So it started providing aid and student loans to everyone who wants to go to college.
That seems like a noble thing to do, just imagine how many people will be lifted out
of poverty, nonetheless, it ended up hurting the students and ordinary people.
When colleges realized that government is helping these 18-year-old kids to pay for
college, they started slowly raising their prices.
In fact, they began to build fancy buildings, giant stadiums to attract more students which
further increased tuition fees.
But that didn’t matter because the government was ready to pay for everything anyway.
Fast forward to today, college is so expensive that most people who go to college end up
becoming poorer because they will have to pay back their student debt for years to come.
Especially when you can't even default on it.
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