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Hsieh Forbes Column: "Midjourney's Whole Body Ultrasound System—A Radiologist's Thoughts"

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My latest Forbes is out: "Midjourney's Whole Body Ultrasound System -- A Radiologist's Thoughts"
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gangsterofboats
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Capitalism's Greatest Beneficiaries Are the Poor

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Capitalism is the only system built on the principle that you improve your own life by improving someone else's. You earn wealth by creating value that others voluntarily choose to buy. Every successful innovation, every productivity improvement, every cheaper and better product raises the standard of living for everyone, especially those with the least.

The wealthy may buy the newest technology first, but capitalism has a remarkable tendency to make yesterday's luxury tomorrow's necessity. Refrigerators, air conditioning, automobiles, smartphones, the internet, life saving medicines, and countless other innovations all followed the same path. What began as products for the wealthy became affordable for ordinary people because competition and productivity drove prices down while quality improved.

The poor benefit not because someone redistributes wealth to them, but because capitalism continually expands what their income can buy. Rising productivity lowers costs, creates better jobs, and increases wages over time by making workers more valuable. The goal isn't to make everyone equally wealthy. The goal is to make everyone wealthier.

Socialism reverses this process. Rather than focusing on creating wealth, it focuses on redistributing what already exists. Every promise it makes depends on someone first producing the wealth to fund it. It offers consumption while treating production as an afterthought, even though production is what makes consumption possible.

This creates a contradiction. The people most capable of creating wealth are given fewer reasons to continue doing so, while those consuming that wealth become increasingly dependent on its continued production. Socialism assumes Atlas will never shrug, despite giving him every incentive to.

The irony is that the rich can often survive almost any economic system. They already have savings, investments, experience, and connections. The poor cannot. They depend far more on abundant jobs, affordable goods, innovation, investment, and growing productivity. When those disappear, it is the poor who suffer first and suffer most.

This is why history consistently shows that the greatest reductions in poverty have occurred where markets became freer, property rights stronger, and entrepreneurship more rewarding. Prosperity is not created by redistributing wealth. It is created by allowing people to produce it.

Capitalism does not promise equal outcomes. It promises freedom: the freedom to create, trade, invest, innovate, and keep what you earn. Those principles have done more to improve the lives of ordinary people than any political program built around confiscation and redistribution.

The greatest beneficiaries of capitalism are not the rich.

They are the people who have the most to gain from a world that keeps creating more wealth instead of fighting over what already exists.



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gangsterofboats
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Merz Scolds German Serfs Over Sick Day Slacking When There Are Immigrant Bennies to Support

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Socialism in the West: Ignorance, Unearned Wealth, and Resentment

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Fetterman: The One Thing That Would Force Me Out Of My Party Is ...

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Man Charged with Felony for Damaging Reflecting Pool

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