Giving Thanks for a Free Market Economy on Thanksgiving

Craig Huey Current Events, Free Markets and Socialism Leave a Comment

This Thanksgiving, I want to give thanks for all my readers, and for all the blessings of God.

Let’s also remember to give thanks for one of the often-overlooked and under-appreciated blessings of living in the U.S. – the freedom to practice business in a free-market economy.

That’s right…

When you think of the Thanksgiving holiday, you might normally think of turkey … football … a harvest season … and stories of the early thanksgivings in our nation’s colonial history.

But did you know that when we give thanks for an amazing meal, friends and family, and the history of America, we are also giving thanks indirectly for capitalism?

Here’s why…

When the Pilgrims came to America to escape persecution from the English government, they arranged for an economic system of shared property and imposed “communal service.”

Every person was given an equal share of food, property and compensation for their labor, regardless of how hard they worked – even if they had not worked at all…

In other words, they set up a socialist system.

The results?

An anemic economy.

Poverty.

Famine.

Discontent.

Resentment.

The colony grew sick, weak and hungry, as able-bodied people weren’t given an incentive to work hard.

Remember that the Jamestown settlement was a community of people who had come to America with a shared vision … and they cared deeply for one another.

But human nature being what it is, people believe strongly that reward should be proportional to work…

After 3 years of economic failure and hardship, the colony abandoned socialism and adopted a new system: every family unit would plant and grow their own crops … and they would get to keep the produce of their labor.

Under the new system, the Pilgrims thrived. They were happier, more industrious … and more productive.

On Thanksgiving, we should celebrate the industrious ingenuity of our forefathers … and the gracious acceptance of the colonists by the Native Americans who helped them survive.

We should also celebrate the victory of free-market business over socialism – which history has proven again and again, never works.

 

What do you think? Write me at [email protected]

 

Here are the rest of this week’s articles:

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