Letter: Capitalism works for a reason - East Valley Tribune: Opinion

Letter: Capitalism works for a reason

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Posted: Friday, September 14, 2012 9:22 am

I have read in this (publication) a letter berating the general concern for our high national unemployment rate and at the same time suggests that corporations have no problem with the high unemployment rate and actually favor it for the cheap labor pool it produces.

The writer obviously has no concept as to the workings of capitalism. Actually, it is quite simple, and it works — to the benefit of everyone. Best of all, it is self-sustaining if not crippled by over-taxation and over-regulation which increases cost to the customer and prices the business out of the market.

Corporations are in business to make money. Contrary to the belief of some, this is beneficial to all of us. To make money, they must have customers. As they acquire more customers, they must hire more and more workers to supply the demand.

As workers are drawn from the labor pool, the corporations must pay higher wages because workers with the skills they need are continuing to deplete and are harder to find. This is a plus for everyone — the workers, because they are employed making more money, and the companies, because they are selling more products or services.

Whether we like to admit it or not, business is the glue that holds societies together. Without business, there would be no government because there would be no source of revenue. If business doesn’t thrive, no one thrives.

Gene Flatt

Mesa

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