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time due to market factors (increased demand, increased supply, etc.), but there is no gradual increase in prices over the long term. To some extent, deflation is more likely. As businesses become more efficient (often because of better technology) and goods become less expensive to produce (either through better efficiency or lower materials costs), more people are able to afford to purchase those products. Electronics are an excellent example of this in our current society. When the plasma TV came on the market a few years ago, they cost $5000-$10000 or more. Very few people could afford them. But over time, the prices have fallen and now almost anyone can afford one (even if it is with payments). This is deflation at work. The companies who produce these TVs are making even more money than they were when the TVs cost thousands, the workers are likely still paid the same or more, but the efficiency with which the products are made has increased substantially. When the TVs first came out, businesses were still paying for huge capital and research investments. As those investments paid for themselves, the prices were able to be lowered. Once they reached a certain price, demand increased to the point where cost decreased even more, and then the prices were lowered further. Everyone profits in this scenario - the company makes money, the workers are paid a fair wage, the consumer gets a good product at a good price.

Capitalism is the only moral and just economic structure, because it is the only structure that allows for human beings to be human beings. It is the only structure that recognizes humans as rational beings, and the only one that allows for people to pursue their own happiness (so long as it is not at the expense of others). It protects are person's right to keep what they have earned, and to distribute that wealth as they see fit through the market. It puts government in its proper place of protecting the people from having their rights infringed upon by others, and it prevents special interest groups from gaining unfair advantage through government favors. It protects the right to property, the right to life, and the right to liberty. It's the only system in which every person is provided with a truly equal position (after all, the only things guaranteed in a capitalist system are the four rights mentioned earlier, everything else is only available by earning it).

Learn more about this author, Cameron Chapman.
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