Capitalism and the Constitution

I personally do believe that a capitalist, or a free market model, is the best economic model for the United States, but I do not believe that this model is dictated by the Constitution. Unconstrained capitalism acting contrary the general welfare of our citizenry is a violation of one our constitution’s most fundamental principles. Monopolies which diminish competition are a detriment to the free market. Collusion between bankers to fix interest rates, and the exportation of American jobs simply do NOT promote the general welfare.

Wally

Where in the Constitution is it stated or implied that the U.S. economy should be based on vulture capitalism, or for that matter, any kind of capitalism? Nowhere! However,the Preamble to the Constitution does clearly mention “promoting the general welfare.”

“We the People of the United States in Order to form a more perfect Union, establish Justice, insure domestic Tranquility, provide for the common defense, promote the general Welfare, and secure the Blessings of Liberty to ourselves and our Posterity do ordain and establish this Constitution for the United States of America.”

The United States Constitution’s Fifth Amendment ensuring private property rights to citizens can be viewed as a mainstay of capitalism. Private property ownership allows individuals to do what they want with their goods. That ownership allows and enables a citizen to use his property to start a business or provide a service.

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