Letter: Capitalism is underappreciated

Thank you to Nate Feltman for his recent column [Does capitalism need a good marketing plan?, Aug. 2]. As his well-documented column provides, true capitalism, when properly understood and practiced, has been the major economic system in the past 100 to 200 years to raise hundreds of millions out of poverty. Because of it, most individuals can buy a home, raise a family, receive medical care, educate their children and experience a retirement. It does not guarantee these benefits, but it provides for the opportunity.

One does not have to search too far back into history to appreciate that what most enjoy today was out of reach for those who lived only a relatively short time ago, when subsistence living was the norm for the majority. Unfortunately, it still is for many who live in countries such as Venezuela, North Korea and other oppressive regimes that deny individuals property rights and the opportunity to benefit from their own talents and hard work.

Touche to Nate for acknowledging the virtues of a legal and economic system that, sadly, too many are quick to take for granted and to dismiss without appreciating its achievements.

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Dane Starbuck