“Conundrums in Economics”

“Thoughts on a free market economy…”
“Conundrums in Economics”
By Phyllis Hunsinger
January 1, 2016

The word, conundrum, is defined by Webster to mean a riddle turning on a play of words.

There are many conundrums in our lives today. None of these are original to me; these conundrums have been identified and quoted by many other individuals. They do provide food for thought as we begin this New Year of 2016.

• America is capitalist and greedy, yet half of the population is subsidized.
• Half of the population is subsidized, yet many think they are victims.
• Many think they are victims, yet their representatives run the government.
• Their representatives run the government, yet the poor keep getting poorer.
• The poor keep getting poorer, yet they have things that people in other countries dream of.

Capitalism is the only system that has proven to provide the opportunities for all to benefit. Pure capitalism is not to be confused with “corporate welfare” or “crony capitalism,” which is when government intervention with rules and regulations in essence picks winners and losers.

Capitalism is an economic system in which the means of production, distribution, and exchange are privately owned and operated for private profit. It is this economic system that allowed the citizens of the United States to attain a much higher standard of living than existed in most of the world. The free market system works because through voluntary exchange individuals may make choices that meet their own individual needs. Individuals make different choices and experience different outcomes.

But, back to conundrums, here is one to ponder as we welcome in 2016:
“Free people are not equal. Equal people are not free”

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