Forum | Letter to the Editor
Letter to the Editor
Ms. Sayed states that one of her goals is to dismantle capitalism. I can’t help but wonder what she hopes to replace it with. Like any system, capitalism is far from perfect, but history has shown that no other system has pulled more people out of poverty and created more wealth for the entire population. With capitalism comes the ability to own property and choose your own economic path. While Ms. Sayed is resting, I would suggest that she take the time to read “Ten Global Trends Every Smart Person Should Know” by Ronald Bailey and Marian Tupy. She will learn that research done by economic historian Angus Maddison at the University of Groningen concluded that the average global income at the time of Christ was just $800 in 2011 U.S. dollars. It remained unchanged for the next 1,000 years. By 1800 it stood at $1,140—an increase of only 40% over an 1800-year period of time. Then capitalism ushered in the industrial revolution. Over the next 100 years, real income per person more than doubled to $2,180. In 2010, a group of Maddison’s colleagues took over his work after his death. They calculated that the real income number had climbed to $14,574 in 2016, an increase of 668% in just 116 years. I suspect Ms. Sayed would have a difficult time finding any other economic system with such a record of wealth creation. Like many that believe capitalism inherently leads to wealth inequities, I would suggest that she is confusing capitalism with greed. It’s human nature to want more for yourself and your family. Even Ms. Sayed is motivated to go to class to “…eventually get jobs and make money.” Once you have wealth and possessions, we also become motivated to keep it. Will those in power do what they can to keep what they have and get more? Of course. But that is equally true in Russia, China, North Korea, Denmark and any other country you want to list—regardless of the economic structure. What Ms. Sayed longs for is a change in human nature, not economic structure. Until that happens, I suggest she continue to go to class.
Editor’s note: This letter was written in response to this piece.