By Dominic Vis
"Boris Johnson Digital Covid-19 Presser" by UK Prime Minister
The benefits of capitalism for all social classes outweigh any false narrative taught by socialist doctrine.
Many people today don’t understand the importance of voting Conservative and the brilliance of capitalism. One thing socialism does really well is provide a vision for the future to many aspiring young people who want better things for themselves and their children, and arguably the conservatives as a whole don’t vocalise their long term vision very well. People see growing inequality in the financial position between themselves and the richest people on the planet. Here is an argument for the benefits of capitalism to all.
Thanks to investment, more people today than ever before are able to get something to eat. Since 1990 there has been a decrease of 189 million people who no longer die needlessly of hunger. Investments into food production like the Tractor in 1849, all the way to the more modern inventions like drones being used for agriculture allow us to produce more food with fewer workers. With AI we may even be able to move to a point in the future with fully automated food production. With fully automated food production we can scale this to meet everyone’s excess need for food.
The importance of excess is that it demonstrates responsibility. Excess allows us to compensate for greed, famine, war, and even people rushing to the shelves and hoarding like the pandemic in 2020. Excess means we can account for all circumstances. With fully automated food production there is no reason for people to be without food. We can achieve the UN’s goal of 0 people dying from hunger sustainably. Cultured meat also may come to market and by fully automating the production we can provide meat to the world’s population easily and cheaply.
This isn’t something that is exclusive to the food industry either; electricity, water, clothing, internet, road repairs, construction, factory work, mining etc. We can fully automate them all, but there are two things that stand in the way of this vision: investment and design. We know this is the outcome of capitalists because they want to make money. The biggest cost to employers is labour. Therefore, the removal of labour provides lower costs for the capitalist. It also allows them to sell to more. Henry Ford demonstrated the importance of selling to the working class. When you sell to the working class you make more money than selling to the rich. Ford’s profit in 2019 was $6.4 billion, compared to Ferrari who made only $4.5billion. This is despite Ford needing to sell 908 cars to match the profit to Ferraris 1 car.
This shows to make one as rich as possible, one must produce for as much as possible with as little wage labour as possible. Capitalism works because it encourages us towards that end goal of providing excess food, cars and wealth to everyone. We can see it working today with fewer people than before dying from hunger. The percentage of people living in extreme poverty globally fell to a new low of 10% in 2015 — the latest number available — down from 11% in 2013, reflecting steady progress of reducing poverty. Make no mistake the poorest people are being lifted out of poverty thanks to capitalism, regardless of what socialism teaches about the ‘exploitation’ of the work force and ‘greed’ of the ruling bourgeoisie.