Subject: 4 Common Capitalism Myths Debunked

Unlike socialism, which attempts to impose rules and institutions regardless of their conformity to human nature or desires, markets arise out of our human qualities.

THE DAILY BELL
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4 Common Capitalism Myths Debunked
By James Davenport - May 17, 2018

One of the most disappointing things I face as a college professor is the lack of understanding most students have regarding capitalism. The simple fact is, despite its importance to our daily lives, relatively few people have a strong grasp of what causes economic growth and why markets are so central to continuously rising standards of living.

In my teaching, I have encountered several myths or misperceptions about capitalism from students as well as individuals outside the classroom. Dispelling these myths has become a focus of much of my teaching.

Myth #1: Capitalism Was “Created”

One of the most pervasive misunderstandings about capitalism is the idea that it was created by someone.

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