10 Things You Didn’t Know About Capitalism

by Austin Petersen

#4. Capitalism Fights Prejudice

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The free market punishes people for making stupid decisions. If an employer is hiring someone based on their race, rather than their qualifications for the job, that’s going to catch up to them. True capitalists don’t care about any other color than the color green. 

If an employer wants to hire someone for a job that pays $60,000, and a Christian applicant will bring in $61,000, but an atheist applicant would bring in $65,000, then if the employer hated atheists and didn’t hire him, she’d lose money. Hiring the atheist is a better business decision, and the employer only harms herself for her prejudices. 

“Capitalism is the only system that functions in a way which rewards rationality and penalizes all form of irrationality… It is capitalism that gave mankind its first steps toward freedom and a rational way of life. It is capitalism that broke through the national and racial barriers, by means of free trade. It is capitalism that abolished serfdom and slavery in all the civilized countries of the world.” -Ayn Rand 

Austin Petersen is a homegrown Missourian with a lifelong passion for liberty. He grew up on a horse farm in Peculiar, Missouri and went on to attend Missouri State University, graduating with a degree in the Fine Arts. After developing a career in media in both New York City and Washington, D.C., he returned to Kansas City, MO, the city he now calls home. In 2016, Petersen appeared on the national stage as a candidate for president of the United States. He took second place in the crowded Libertarian primary behind Governor Gary Johnson and ahead of cyber security maverick John McAfee. During his campaign, Petersen earned many high-profile conservative endorsements, including Mary Matalin, Erick Erickson and Leon Wolf of RedState.com. Petersen also brings decades of professional experience in a wide variety of fields, from content production and media to business and political activism. He is the owner and chief executive of Stonegait LLC, a consulting firm specializing in photo and video services. He was also the director of production at FreedomWorks and an associate producer for Judge Andrew Napolitano’s show “Freedom Watch” on the Fox Business Network. Additionally, Petersen has a national following as a commentator and professional pundit. He is the founder of The Libertarian Republic, a powerful online news source for the public that receives an average of 1 million unique visits monthly and whose podcast, The Freedom Report, receives an average of one million monthly downloads. He is also a frequent contributor on television, appearing on Fox News, Fox Business, CNN, MSNBC and on dozens of local radio shows.

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