Capitalism is the only system that creates economic efficiency as value is created. When not distorted by external forces, capital flows to areas of need where it can be most effectively used to create that value. It causes organizations to employ human capital and raw materials in just the right amount to produce value at the least cost, with the most desirability and in quantities sufficient to meet the given demand. It is lean, mean and clean in the production of the greatest value at the least cost, providing the greatest benefit for all individuals participating in this system.
Collectivism is a system that creates economic waste because its objective is not the creation of value but the equal consumption and distribution of resources. The current idea that “everyone has a right to a free college education” is a prime example.
It is a fact that not all people are college material. Many simply do not have the intellectual capacity for learning higher concepts. If, for whatever reason, they did not accumulate the requisite skillsets that would presage success in college, sending them to college without these skills is a waste – a waste of time for them, their teachers and a waste of taxpayer money – a net loss to the entire economic system.
Free college for everyone – the end result will be twofold – 1) a growing segment of society who failed at college – or were just successful enough to get a degree and 2) degrees of no real value because they will not backed up by the necessary skills. The most common progressive/collectivist response to this “problem” is to further lower the requirements to get a degree thereby devaluing the degree itself. This is largely what has happened since college loan programs and lower admissions standards were implemented. A college degree now has less value than a high school diploma did 50 years ago.
When everybody is special, no one is.