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1981 Key to the Capitalist System is Capital

1981 Key to the Capitalist System is Capital

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Published by Hal Shurtleff
H. Armstr ong Roberts

The Key To The Capitalist System Is

Gary Allen is author of None Dare Call It Conspiracy; The Rockefeller File; Kissinger; Jimmy Carter/Jimmy Carter; Tax Target: Washington; and, Ted Kennedy: In Over His Head. He is an AMERICAN OPINION Contributing Editor.
• OVER THOUSANDS of years, human suffering, starvation, back-breaking drudgery, famine, and pandemic illness were man's common lot. Suddenly there came into existence in the United States of America such material prosp
H. Armstr ong Roberts

The Key To The Capitalist System Is

Gary Allen is author of None Dare Call It Conspiracy; The Rockefeller File; Kissinger; Jimmy Carter/Jimmy Carter; Tax Target: Washington; and, Ted Kennedy: In Over His Head. He is an AMERICAN OPINION Contributing Editor.
• OVER THOUSANDS of years, human suffering, starvation, back-breaking drudgery, famine, and pandemic illness were man's common lot. Suddenly there came into existence in the United States of America such material prosp

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Categories:Types, Research
Published by: Hal Shurtleff on Apr 20, 2011
Copyright:Attribution Non-commercial

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01/30/2012

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H.ArmstrongRoberts
TheKeyToTheCapitalistSystemIs
CAPITAL
GaryAllen
isauthorof
NoneDareCall
It
Conspiracy;
The
RockefellerFile;Kissinger;
Jimmy
Carter/Jimmy
Carter;
Tax
Target:Washington;
and,
Ted
Kennedy:InOverHisHead.
Heisan
AMERICAN
OPINION
ContributingEditor.
OVER
THOUSANDS
ofyears,
human
suffering,starvation,back-breakingdrudgery,famine,
and
pandemic
illnesswere
man's
commonlot.Suddenlytherecameintoexistencein
the
United
States
ofAmericasuch
material
prosperity
that
we
take
for
granted
spectacular
luxuries
likesafetyrazors,televisionsets,shower
baths
,electriclighting,centralheat-
J
UNE
,19
B1
ing
and
cooling,automobiles,comfortableclothing,
and
fullbellies.Inless
than
acentury
and
a
half
the
general
standard
oflivinginAmericahasbecomesohighbycomparison
that
wefinditimpossibleeventoimagine
what
lifewaslikeforordinarypeoplebefore
the
IndustrialRevolution
andthe
subsequent
advancesofourAmerican
capital
-
1
 
ismduring
theNineteenth
Century.Nothinglikeit
had
everoccurredinall
human
history.Bornof
the
earlyMachineAge
and
the
ideasof
John
Locke
and
AdamSmith,
the
United
States
became
the
mostaffluent
nation
on
earthand
,as
Paul
Harveysays,
"the
powerhouseof
theplanet."What
wasresponsible?
The
reasonforthis
dramatic
advanceinprosperitywassimply
that
peoplewerefor
the
first
time
freetopursuetheirowneconomicinterests-freetosave
and
investinventureswhichwerein
turn
freetoproduce
and
market.
And
thisprocessbegantogenerateanincreasingquan
tity
ofwealthtomakeavailablemorecapitalin
the
formofmoretools
and
machines-whichledtofurtherproductionsatisfying
the
needs
and
wantsofmore
and
morepeople.
It
wascapitalaccumulationforuseinarelativelyfree
market
that
has
made
thisprogresspossible.Dr.HowardE.Kershnerdescribesinhisbook
DividingTheWealth
the
terriblelivingconditionsof
the
pre
capitalist
era,
and
explainshowcapi
tal
haselevatedourlivingstandards:"Lifewas
hard
inEuropeduring
the
MiddleAges
and
the
firsttwo
thirds
of
the
ModernEra,comingdowntowellafter
the
beginningof
theIndustrial
Age
andthe
riseofcapitalism.Indeed,itwas
the
lackofcapital
that
madelifesohard.
It
isstillvery
hard
inmost
parts
of
the
world
and
for
the
samereason-lackofcapital.
The
Chinesecoolieworksso
hard
becausehedoes
not
havepowermachinery
at
hisdisposal.
The
Americanworkmanaccomplishesfarmoreinfewerhourswithlessexpenditureofenergybecauseaccumu
lated
capitalhasprovidedhimwithexcellenttools
and
powerequipment.Inprimitivetimes
human
musclesuppliedall
the
energyavailableto
man
inhiseffortstowrestaliving2from
nature.This
hasbeenreducedtoless
than
fivepercent.Alittleissuppliedbyanimals,
but
wellover95
percent
of
the
power
men
useismechanical.
That's
why
the
burden
ofcrushingtoilhasbeenliftedfrom
the
backsof
men
and
the
scaleoflivingsomiraculouslyincreased."A
man
can
obviouslyproducemorewith
the
right
kind
oftools
than
he
can
withhis
bare
hands.Give
himbetter
tools,
and
he
can
produceevenmore.
Capital
issimplytools
bought
by
accumulated
savings.
This
createswealth,
andthe
wealthitcreatescan,inturn,beusedtocreatemorewealthwithnew
andbetter
tools.
The
stan-dard
oflivingofeverycountrythereforedependson
the
amount
and
qualityofcapitalithas
accumulated
throughprivatesavings
and
investment.Any
nation
whosepeoplearewillingtosave
and
investinmorecapitalis
headed
forahigherliving
standard
.And,as
Dr.
Kershner
pointsout,"beliefsorpractices
that
discourage
the
formationofcapitalor,evenmoretragic,
that
dissipateordestroyit,willdragdownward
anypeople
toward
more
poverty."
If
freedomtoprofit
and
incentivestosaveareinterferedwith,capitalformationwillfail.HowardKershneroffers
this
significantwarning:
"The
accumulationofcapitalwaspainfullyslow,
but
itfinallyrelieved
the
horribleconditionsexistingin
Eu-
ropedowntoacentury
and
a
half
ago.
There
isgravedanger
that
the
processisnowbeingreversed.De
capitalization
results
fromwrong
e
.s
economicpolicies.Excessive
taxation
.:0
~
discourages
the
willtosave.
It
penal-
8
izesourmostproductivemen.
The
.-continuedseizingofpropertybygov-
~
ernmentnot
onlystopsprogress,
but
I
will
head
usbackwardtoward
the
~
"
unspeakabledegradation
and
suf-.]feringwhichwehavediscussedin
kl
the
preceding
paragraphs."
~
:.
AMERICAN
OPINION

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