By Andrew Friedrick
We as Americans live in a country where equal opportunity exists. Immigrants from all over the world venture to the United States to find success, wealth, freedom, and peace. Why is the “American dream” sought after by so many individuals? Our country has been so prosperous economically because of the presence of capitalism and a free market. Capitalism allows human ingenuity to aid the economy and individuals with their own personal dreams and goals to achieve them.
This is quite impossible in a socialistic country where wealth is distributed and shared among society. Because of capitalism, the creation of privately owned businesses is possible, which produces economic growth, jobs, and opportunity. America is so appealing to the opportunist seeking success because what it can provide is unparalleled in contrast to other countries. How do entrepreneurs who own small businesses benefit from the presence of capitalism? According to the U.S. Small Business Administration Office of Advocacy, small businesses make up 99.9% of all businesses in the United States.
In 2019 there were 30.7 million small businesses, 59.9 million small business employees, and 280,229 small business exporters. 1 The economy has been growing steadily over the past few years and was at its best prior to the COVID-19 pandemic. What does this tell us? Private business ownership, economic growth, opportunity, and steady job growth is only possible in a capitalistic society. If someone has an idea, they can make it happen. Socialism would prohibit the economic opportunity that comes via capitalism as wealth and income will automatically be shared, among others, which would, in turn, destroy the free market our country was built on. The amount of small businesses in operation is what has made America so successful economically.
A competitive free market without government interference and control has created an abundance of opportunity and prosperity that can be sought after by any individual regardless of background. Our American capitalistic society must be protected at all costs; socialism has no place in this beautiful country as it has only destroyed opportunity and personal welfare.
Andrew Friedrick was born and raised in Jacksonville, Florida. He will be attending the University of North Florida in the fall. He loves all things related to sports, enjoys the outdoors, and is passionate about politics.