Monday, November 09, 2009
Importance of the Economy on Human Life
To celebrate the 20th anniversary of the fall of the Berlin Wall and the successive end to the Cold War, I'd like to make a brief comparison on the impact communism and capitalism have had on human life. According to the Black Box of Communism, direct governmental take over of a national economies has resulted in 100 million deaths. That is equal to the number of dead from World War I and World War II combined. However, the impact of capitalism is not one of destruction, but of creation. The emergence of the free market, which in turn allowed for the Industrial Revolution, brought about the largest increase in prosperity ever seen in human history. The population of the world had been relatively constant, at about half a billion, until this increasing wealth has brought another 6 billion people into the world. I not only thank unhindered human industry for more life, but also for a better life.