Feel Good Economics

Capitalism-
An economic system based on a free market, open competition, profit motive and private ownership of the means of production. Capitalism encourages private investment and business, compared to a government-controlled economy. Investors in these private companies (i.e. shareholders) also own the firms and are known as capitalists.
In such a system, individuals and firms have the right to own and use wealth to earn income and to sell and purchase labor for wages with little or no government control. The function of regulating the economy is then achieved mainly through the operation of market forces where prices and profit dictate where and how resources are used and allocated. The U.S. is a capitalistic system.
It absolutely amazes me the lack of understanding that seemingly sensible people have of what makes our country so succesful. I am a Union steamfitter by trade, which is a wonderful occupation, but as a conservative I tend to be all alone in a political debate. Whether we are discussing the war, the president, or the "Evil Greedy Oil Companies", my union colleagues and I just don't click. But, I love to debate, and being right just feels good. With gas passing the $3.00 per gallon mark late last year, you better believe we had a lot to talk about. But what disturbed me wasn't that we didn't agree, but the total lack of understanding of a capitalist economic system. Words like greedy, and cold hearted, and my personal favorite, Bush's buddies kept coming up. Now the first and I might say, most important thing one has to understand is, economics and feelings DO NOT go together!!! But, unfortunately they all to often combined. For example, Exxon made $36 billion in profits last year(gasp), so what does the left side of our elected officials say, "those greedy oil companies" and try to hit them with a windfall profit tax.
Now that wasn't proposed because it would fix the problem, it was supposed to make us "feel" better. That the evil oil tycoons were getting what they deserved. In the real world, the result would be even higher gas prices because 10% would remain constant. Another example of "feel Good economics" is the recent passing of the "Walmart Health care Bill" in Maryland. The measure would require companies with more than 10,000 employees to spend at least 8 percent of their payroll on health benefits, or pay the balance into a state low-income health insurance fund. Again, when the government messes with how a company spends its money, the only thing it does is make us "feel" better. You can expect to see an increase in Walmarts prices as a direct result of this. And the worst part is, it wont give all their employees health care, wasn't that the reason? No, it was to make us "feel" better.
There is a terrible thing happening today and that is young people are not being taught economics the right way. Somehow the word capitalism has become taboo in today's society. We are to worried about "feeling good". Unfortunately the right way doesnt always feel good, but it is what has made the country what it is. We are successful because we make our business decisions, not the government.