The magazines and newspapers in Europe are filled with stories pronouncing the end of capitalism. They hold globalization and the free market system responsible for the financial crisis that has beset them. It is greed in the private sector that threatens the continuation of the welfare state, they say. There is no thought that it may be greed that drives the protesters who want to be carried by someone else’s life savings rather than work a little bit longer and create a little bit of wealth of their own.
To those who say capitalism is the cause, I have a few questions to ask. When you retired from your government job at age 55 with a pension large enough to live on, where did the money to pay you come from? With the free medical care you have enjoyed for most of your life, where did that money come from? With free public education for your children and heavily subsidized university tuitions, where did that money come from? Do you know? Do you care?
Your government didn’t create it. It was generated by the capitalist system you seek to end. If you are successful what is your plan for a better system that will generate greater wealth, enough to continue and sustain and the benefits you have been enjoying and refuse to sacrifice?
The most absurd claims are the claims you read in the Greek papers, claims that Germany is to blame for the bankruptcy of Greece. By that reasoning, I could buy a yacht for myself and blame you, dear reader, if the yacht is taken away from me because you wouldn’t pay for it. Now that’s greed.