In a capitalist society, an individual can be altruistic if he so desires. If he wants to give his property to the poor and the needy, morally nobody has a right to stop him. His rights protect his freedom to act as he deems best for his life. But he cannot impose his choices on others. In a capitalist society, the altruist cannot force others to sacrifice their property. He cannot force others to act contrary to their own judgment. And the same is true of the egoist. In a capitalist society, neither the altruist nor the egoist can use force. Neither can impose his values or his morality on others. Each is free to act on his own choices, so long as he respects the mutual rights of others.
In a society dominated by altruism, an individual is forced to provide for the poor and the needy. In a society dominated by altruism, an individual is often prohibited from acting in his own self-interest. His property can be seized and his rights can be violated whenever it is deemed to be in the “public interest.” No matter his judgment or his values, an individual is compelled to live by the creed of altruism.
Altruism demands obedience at the point of a gun. Egoism recognizes the moral right of each individual to live by his own judgment.
Between 1870 and 1889, wages for non-farm labor decreased from $1.57 per day to $1.39 per day, a decrease of 10.2 percent. During the same period, the Consumer Price Index decreased more than 23 percent. Even though wages for unskilled labor fell by more than 10 percent over twenty years, prices fell by two times as much, that is, a dollar bought a lot more. Further, there was much more available: canned goods became widely available in the 1880s, which provided a much more varied diet, such as fruits and vegetables that were not in season; refrigerated railroad cars made it possible for urban residents to eat fresh meat, grapes, and strawberries more frequently; improvements in the sewing machine enabled manufacturers to mass produce clothing at low prices; department stores offered consumers wide selections in clothing, household goods, and more. In short, the unskilled worker’s life was immensely better in 1889 than it had been in 1870, even though he was paid less.
It wasn’t government programs that improved the lives of Americans. It was increased productivity, and that was made possible by economic freedom.
If you wonder why energy prices are soaring, consider the fact that, to drill offshore, an oil company must comply with the National Environmental Policy Act of 1969, the Clean Air Act of 1970, the Coastal Zone Management Act of 1972, the Endangered Species Act of 1973, the Clean Water Act of 1977, not to mention any local or state regulations that may apply. Or consider the Trans-Alaska Pipeline, which could only open in 1977 after the owners obtained 515 federal permits and 832 state permits. As another example of the burdens placed on energy producers, it took one company, Arizona Clean Fuels, seven years just to get a permit to build a refinery, primarily because of environmental regulations. And after thirteen years of planning, it had yet to break ground.
Rather than castigate energy companies, we should salute the Herculean effort they go through to make our lives better.
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