Although many conflate capitalism and imperialism or think the two systems are closely connected, they are actually quite different, even at odds with one another. Capitalism is a system based on voluntary exchanges that benefit all of the parties involved. In contrast, imperialism is based on exploiting the poor through political power and military force. Prof. Stephen Davies shows that capitalism has been blamed through the years for a number of catastrophes—such as political corruption, exploitation of the poor, mass famines, and others—that were in fact a result of imperialism.
The current administration is obsessed with Income Inequality and offers greater regulation as a cure. The actual solution to this perceived problem is actually greater economic freedom. As this video and it’s supporting evidence shows that economic freedom is the cause of greater happiness for everyone.
Economic freedom involves more than just the freedom to buy and sell products and services. It allows us to be free in our interactions with other people. Economic freedom enables us to travel, to say what we want to say, to do what we want to do. Prof. Antony Davies shows how economic freedom is associated in the data with a number of positive indicators of a healthy country. For example, countries with more economic freedom tend to have higher GDP per capita, to take better care of the environment, and to be more equal across genders. In addition, countries with more economic freedom have less child labor. Economic freedom is important in healthy societies. It is about being free to make your own choices.
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