Capitalism

The Unknown Model.

What is capitalism
Capitalism is an economic system based on the private ownership of the means of production and distribution of goods, drive by profit and categorized by a free competitive market.

In Ayn Rand's own words;

“The recognition of individual rights entails the banishment of physical force from human relationships: basically, rights can be violated only by means of force. In a capitalist society, no man or group may initiate the use of physical force against others. The only function of the government, in such a society, is the task of protecting man’s rights, i.e., the task of protecting him from physical force; the government acts as the agent of man’s right of self-defense, and may use force only in retaliation and only against those who initiate its use; thus the government is the means of placing the retaliatory use of force under objective control.”
–Capitalism, the Unknown Ideal

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Do we really need capitalism.

I will say a big YES to that. We need it. We need it badly in Ghana, where there are little to no jobs available. Capitalism creates more jobs because their motive of operation is to make more profit and if your expertise is needed, you will be employed.

Ghana as a third world country has more than 3 million people unemployed, of its active labor force. It is frightening because a hungry person is an angry person. The our youth are not getting jobs to be active what will they resort to do, you can think of a lot. They can resort to robbery, drinking and all sort of social vices. In this regard, there is an initiation of physical force to others which Ayn Rand has been speaking about. When this happens we can say the government has desist from working because it failed to do the one job it brought to do, that is, the task of protecting him from physical force.

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“Capitalism is a social system based on the recognition of individual rights, including property rights, in which all property is privately owned”
― Ayn Rand, Capitalism: The Unknown Ideal

We leave in a country where our leaders say they are practicing capitalism but our basic needs are handled solely by the government. People are crying for water, yet our leaders say they are capitalist. Electricity comes and goes as if one of the workers sent his child to work just to play with the machines.

Is this the capitalist way?

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Well, that is just my opinion.