Many proponents of socialism often attempt to appeal to a moral high ground when arguing the merits of their economic system against “the evils of capitalism.” Is there any truth to this claim? Is capitalism evil? Are socialists attempting a simple misdirection technique (i.e. “don’t look at all of the obvious examples of truly socialist societies flagrantly violating human rights and leaving their people destitute within the fiscal prison of a ruined economy” [i.e. Venezuela, Cuba, North Korea, China, the Soviet Union, etc.])? Nobel Prize winning economist Milton Friedman explains the difference between capitalist and socialist societies on a fundamental level; and why capitalism is ultimately the only virtuous option of the two.
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