If you listen to the mainstream media and politicians like Bernie Sanders, then capitalism is a greedy and inefficient system. They want the government to take care of everyone’s needs, from health care to college tuition.
But what they don't tell you, according to Lone Star College economist Hank Lewis, is that socialism has failed and is failing in other countries.
“The Soviet Union had their issues. Venezuela, a socialist economy is clearly in the middle of a recession and a labor shortage right now,” Lewis said.
And he adds that capitalism, after all these years, still works.
“Capitalism tends to reward the productive. There are rewards for those that come up with something different, and something that meets a need,” Lewis explained.
And Lewis says capitalism appeals to the competitive nature that we have as human beings. And if someone does something to meet a need, most of agree that person deserves a reward for that.