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25. Too Early To Celebrate?
Of all the economic systems cruising through
unknown waters, capitalism has obviously turned out to
be the flagship of the fleet. Sure, we all know some
people who aren't working, but most of them have jobs.
We still have the grossest national product in the world.
We have a standard of living beyond the dream of
kings, and for that we owe a great deal of credit to
those who extended us credit (to whom we owe a great
deal).
American capitalism has gone through several
revolutions -- agricultural and industrial revolutions
which provided machines to supplement our muscles.
Those revolutions continue today. Now, we are also in
the high-tech, high-touch, financial, informational
revolution. It has provided us with computers to
supplement our minds. For two decades now we have
been applying high-tech to low-tech industries; today
they are leaner, stronger, and more profitable.
The American economy is number one in
semiconductors, computers, software, fiber optics,
cellular phones, pharmaceuticals, aircraft, scientific
instruments, medical devices, and overall productivity.
Corporate restructuring and enhanced productivity have
put U.S. companies back in the forefront of global trade.
The
u.s~
export sectors have been growing twice as fast
as the economy itself.
A tribute to capitalism, we have four percent of the
world's people and we produce nearly 25 percent of the
world's output. Less than two percent grow enough
food to feed 200 percent of us. Our poverty level
income is several times greater than the average
income in Russia. Our work week is 40 percent shorter
than it was in 1900. And
95
percent of us are working.
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