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20 Quotes That Explain Why Capitalism Is Better than Socialism

Signs "Capitalism" and "Socialism" over sky

Saying you’re a socialist is kind of like saying you’re a flat-earther. The evidence is in; it has been in for a long time and it’s undeniable to any objective person. The planet isn’t flat and socialism is inferior to capitalism. Socialism is worse for the rich, the poor, and the middle class. Over the long haul, socialism doesn’t produce better outcomes for anyone other than well-connected government officials, bureaucrats and their cronies who grift off the public via bribes and getting around the rules they put in for anyone else. Since many people don’t believe the incontrovertible evidence, maybe they’ll believe these quotes that help explain why capitalism is better than socialism.

1. "America’s abundance was created not by public sacrifices to ‘the common good,’ but by the productive genius of free men who pursued their own personal interests and the making of their own private fortunes. They did not starve the people to pay for America’s industrialization. They gave the people better jobs, higher wages and cheaper goods with every new machine they invented, with every scientific discovery or technological advance—and thus the whole country was moving forward and profiting, not suffering, every step of the way." – Ayn Rand

2. "It is the common error of Socialists to overlook the natural indolence of mankind; their tendency to be passive, to be the slaves of habit, to persist indefinitely in a course once chosen. Let them once attain any state of existence which they consider tolerable, and the danger to be apprehended is that they will thenceforth stagnate; will not exert themselves to improve, and by letting their faculties rust, will lose even the energy required to preserve them from deterioration. Competition may not be the best conceivable stimulus, but it is at present a necessary one, and no one can foresee the time when it will not be indispensable to progress." -- John Stuart Mill

3. “It is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own interest.” — Adam Smith

4. “Capitalism is the most cooperative system ever created for the peaceful improvement of peoples’ lives. It has only a single fatal flaw: It doesn’t feel like it. The market system is so good at getting people—from all over the world—to work together that we barely notice how much we’re cooperating.” – Jonah Goldberg

5. “The growth of world prosperity is not a 'miracle' or any of the other mystifying terms we customarily apply to countries that have succeeded economically and socially. Schools are not built, nor are incomes generated, by sheer luck, like a bolt from the blue. These things happen when people begin to think along new lines and work hard to bring their ideas to fruition. But people do that everywhere, and there is no reason why certain people in certain places during certain periods in history should be intrinsically smarter or more capable than others. What makes the difference is whether the environment permits and encourages ideas and work, or instead puts obstacles in their way. That depends on whether people are free to explore their way ahead, to own property, to invest for the long term, to conclude private agreements, and to trade with others. In short, it depends on whether or not the countries have capitalism.” – Johan Norberg