Capitalism is not in conflict with global good. Though it has become a popular mantra pushed mostly be the left that capitalism is evil, that could not be farther from the truth. Look at what Patagonia has done for both the environment and fair trade with their “1% for the Planet” campaign all while creating a company worth over $1 billion.
Tom’s, Warby Parker, REI, Starbucks, Whole Foods, and a host of others have followed their lead. Companies are now reporting their carbon footprint and sourcing their manufacturing such that both fair wages and working conditions for labor and environmental stewardship is a priority and tracked for consumers to see.
Target and Amazon raised their minimum wage to $15/hour and Hobby Lobby to $17/hour, voluntarily. And that’s not all. US Corporations gave $21 billion to charity in 2019, and the people those companies and small businesses employ gave $449 billion.
According to the Charities Aid Foundation (CAF) World Giving Index, the US ranks number one in the world again for the last decade in terms of global giving. The top 10 are democratic republic, capitalist nations.
China, a socialist republic, who ranks low in charitable giving by contrast, gave $23.4 billion in total in 2017. Coincidence? Don’t think so.
No other economic system does so much global good. We can and do give BECAUSE of capitalism, not in spite of it.
