Capitalism has become the scapegoat for many social woes. When critics are pressed to assert their opinion, a couple of distinct charges are leveled at the economic system: it generates inequality and it threatens social solidarity by allowing individuals some priority over their communities, says James R. Otteson, chair of the Philosophy Department at Yeshiva University in New York.

However, not only are many of the claims against capitalism misleading and overly caustic, but also they fail to account for the enormous positive influence that capitalism has in the world, specifically by curtailing the growth of poverty.

Because capitalism truly came into its own as an economic model approximately 200 years ago, a comparison of modern economic indicators with those from 1800 is enlightening. Continue reading from NCPA…

April 29 marks the third year that the U.S. Senate has not passed a budget. Now more than ever, it is crucial that Americans understand what our nation’s spending, taxes, and debt mean for them and their families and why Congress must urgently get back to budgeting.

The Heritage Foundation’s newly released Federal Budget in Pictures 2012 edition (previously called the Budget Chart Book) offers a unique tool to learn about the federal budget in a clear and compelling way.

Debt and Deficits chart 1 shows that publicly held debt is set to skyrocket as deficit spending explodes to finance runaway spending on Medicare, Medicaid, and Social Security. If government spending continues on its current trajectory, in less than 20 years each man, woman, and child in America will owe more than $100,000 for their share of the federal credit card. To view Charts and continue reading from The Heritage, click here.