The Alternative to Capitalism is Corruption

Margaret Thatcher once claimed that in terms of capitalism, there is no alternative. Critics claim otherwise. Like gravity is to Physics, Capitalism isn’t an economic system, but a fundamental principle based on our basic human urges to gain value (money, position, status, relationships, etc). It is about value and how that value is obtained in a fair objective way that is transparent and regulated.

Let’s take a look:

Capitalism is about fair competition for value.
Take competition away, then how is value obtained?
It is evenly divided, proportioned or simply delegated.
Basically it comes down to the value of the provider.

The problem comes in humanity. We are naturally progressive, ambitious and competitive. Very few are satisfied with enough. So we seek ways to increase value.

If value is then delegated arbitrarily by a provider, the game becomes ways to suede that provider. It is now a new competition yet isn’t transparent or regulated. This now, is where exists bribes, extortion, blackmail, threats, etc. This is where corruption lies.

All economic system is being used, in the end, are capitalistic. All governments compete for value in terms of money or power. They just obtain it within their borders differently. Where a Capitalistic society earns it from the prosperity of its members, others earn on their poverty.

The lessons learned from the communist experiment included the failure to stop the human urge to increase value. It will be sought, either through a transparent and regulated system, or one hidden and therefore corrupt.

A Capitalist system acknowledges this and regulates. A non-capitalist system ignores it and incriminates.

Even in capitalism, there is corruption, true, but that happens when competition leaves transparency and regulation, i.e. when governments get involved. Rules are somehow ignored or glossed over, competition seems to favor certain entities etc.

So in effect, Thatcher was somewhat correct, there is no alternative, because corruption should not be a choice.