Celebrate Capitalism

Under capitalism, the average citizen enjoys more freedom and greater happiness than under any other economic system.

Therefore, I have been a longtime advocate of the establishment of the Saturday before Labor Day as a national holiday, Capital Day.

I believe that competition is our healthy way of cleaning up non-competitive firms, which do not provide consumer products at good prices. Success in our economic system is not guaranteed, as many entrepreneurs try several ventures before they succeed. The right to try and even to fail is ever present under capitalism.

The search for profits is the strongest economic motivator that the venturesome can provide. New industries, better jobs, and more rewarding and satisfying employment are direct results of venture capitalists.

Capital Day should be established to honor the millions of savers and investors who voluntarily contribute the funds needed to create the plant, equipment and the jobs that laborers celebrate on Labor Day.

ALBERT L. MAGUIRE

Santa Maria