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possible wage* in order to create a market for their products. Tke same thing is true up and down and across our entire economy.
So, to Americans, capitalism means an ever-increasing stream of more and better automobiles, refrigerators, washing machines, television and radio sets and so on and on. The advantages of such a system are so readily apparent to us that we just can't understand why those advantages are not just as apparent to the rest of the world. Yet throughout almost all of the world, capitalism is sneered at and held up to ridicule. Why?
Most of the answer must lie in the conflict here and abroad between the definition of the word, .“capitalism.” To the European, it doesn’t make much difference what country he lives in, his experience under capitalism is associated with hordes of poorly dressed, underpaid workers, living in cramped quarters, (without any of the conveniences American workers take for granted) each worker using all he earns to keep his family at a bare subsistence level. In Europe capitalism means, not free, competitive enterprise, but rather cartels, which always breed an absolute disregard for the welfare of workers, consumers and everyone else except the members of the^cartel.
In England and France, for example, competition is not permitted. Trade aseiciations fix' prices, assign quotas and allocate markets. Prices are always set high
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