And who
at the.
Well we still have a few minutes before we go on the air.
I'd like to tell you about the time that.
Ted we agreed capitalism is an economic system a system for the production
and distribution of things we want.
I want to agree not to use say something about government to.
There has to be a legal basis for an economic system to operate for days.
It is the that you have different ideas of what capitalism.
Maybe we should talk about what it is not.
It is not a system governmental control and planning in which the dictator board.
Tells people what the good produce and it's not a system of government ownership.
Let me tell you about something.
It shows that the basis of the capitalistic system is private property.
It happened one Eleanor and I went down to get the things for the class
when he wrote. We went to Mr Brown's store. And that's what I mean.
Mr Brown really owns property. Store fixtures and the groceries in there.
Well the whole store. It's his property and he can do almost anything with it
that he finds. We needed we need Mr Brown. On handling.
It's a simple as that you might argue about his prices. Anyway Eleanor.
But after all he has a right to earn something for the goods
and services he supplies.
And he does supply services as well as good
when we agree to buy everything from him when he's buns marshmallows
and charcoal he agreed to give us extra service.
Deliver everything in his truck
and since we didn't have enough cars you agreed to make another trip
and take a lot of the kids out to the picnic.
And he could help us that way because the truck is his private property.
And he can do just about anything with it that he wants.
That's all a capitalistic system operates the people own property
and use it to provide the goods and services that all of us need.
Mr Brown's very right to own property guaranteed by our Constitution.
But that's not what he's interested in.
And he does supply us with things we want but that's not why he's in business.
He's in business to make money.
There is the basis of the capitalistic system the profit motive.
May give service money to make a profit.
When I complain that his prices were too high.
He could see those profits going right out the window if we didn't buy from him.
So naturally he offered to help us out with.
So he could make a profit
and just made a profit on those we need.
Shippers distributors.
They're all in business to make profits of course they make a profit
and it's a good thing.
That's the incentive that makes capitalism work to give us more of the things
that we need. That's the incentive that other economic systems land.
I think you can point. Why Mr Brown offered his truck.
He wanted to make sure you back from him and not from a competitor.
And why was the freedom a bad all for freedom of contract you Mr Brown entered into
a contract an agreement. You agreed to buy what you needed from him.
Even great unless you use the trap. In the same way he got the lien.
By entering into a contract with a wholesaler.
And he caught the trust by entering into a contract with someone else.
Under a capitalistic system you're free to make almost any kind of a contract with
anyone freedom of contract competition profit motive property.
And one of a right to free enterprise.
Capitalism is a system of free enterprise. So now tell us is free enterprise name.
All right. It means that you can go into business wherever
and however you please anybody can go into any business.
Any legal business but don't say you can't leave government out of the discussion.
Government must at least guarantee the right of private property
and freedom of contract in order that everybody was a year
and a few circuits.
Good afternoon.
This is really acting as moderator for the Western High School radio for our topic
today. What is capitalism. We hear capitalism capitalistic system.
And every hand on the radio and newspapers magazines books and lectures
and daily conversation. But just to start our forum.
We will present a few candid interview recorded remarks
or representative citizens of our town who are asked for their opinions about.
Our capitalistic system. Capitalism.
Well why should there be any question about it has not given us the highest
standard of living in the world.
It's we don't have free enterprise you does your
crowded red tape a government to keep it sounds all business.
It's medium of contracts.
I don't know about that we've got the union in seniority.
I make a living I should worry.
What is all this competition we've heard so much about.
You call these prizes lol.
Well perhaps the regular i'm glad i can work for myself with capitalism you take
your choice. It seems that capitalism means different things to different people.
Let's hear now from our town treasurer Mr John Howard.
We say we live in a capitalistic society. What does that mean.
Well we can point to certain fundamental idea is which we say are part of our
capitalistic system for example.
Private property individuals
or corporations may own land natural resources buildings of all
kinds of machinery and equipment for the production of goods.
Facilities for the transportation of goods and the goods themselves.
It's in a capitalistic system. These are usually private property.
Another idea fundamental to capitalism is the profit motive.
It's for the sake of profit. We cultivate the land.
It's we bailed great factories to produce good.
We sell for profit. The goods produced.
We transport over large distances still for the sake of profit.
Those who have savings from invest or lend them hoping for a share of profit.
And in so doing help to build the industrial mys OF THE NATION.
Some other ideas are basic to capitalism. Competition.
Freedom of contract. Free enterprise.
What do they mean.
Could these rights exist without long and protect them.
To Just please do things make up a capitalistic system.
Should something perhaps your forum will have some of the.
Now with you.
This is your.
Capital
of an investor limb hoping for a share of profit.
And in so doing help to build the industrial mys OF THE NATION.
Some other ideas are basic to capitalism. Competition.
Freedom of contract free enterprise.
Could these rights exist without long that defy and protect them.
To just these two things make up a capitalistic system. Should something.
Some of.
This is your.