Black Friday Showcases Capitalism in Action
Black Friday Showcases Capitalism in Action
Rather than a day of crass consumerism, Black Friday is a boon for the economy and a windfall for American workers.
This piece originally appeared at JohnLocke.org on Nov. 28, 2023.
Whether you love or hate it, Black Friday has taken over online ads, television commercials, and email inboxes, promising huge deals and discounts. According to findings by Adobe Analytics, Black Friday generated $9.8 billion in online sales this year in the U.S., up 7.5% from last year.
While Black Friday is sometimes referred to as a day of crass consumerism and greed, I believe it vividly showcases capitalism in action and means serious business for our economy, and supports the American worker. It remains undeniable that even those who oppose capitalism frequently utilize and benefit from its achievements daily.
Here are several questions to consider:
Do you shop on sites such as Amazon or Etsy?
Do you watch your favorite show or movie on Netflix, Hulu, or HBO Max?
Do you search for the best dessert recipes using Google?
While you may not utilize all the platforms above, we can all thank capitalism that they exist. Businesses with innovative ideas are facilitated by a free-market system that enables realizing those ideas. When businesses, like the ones listed above, compete, consumers benefit.
At this time of year, one of the reasons for the surge in shopping is because of Americans’ desire to be generous toward those in their communities and families. Among its various merits, capitalism generates the prosperity that empowers philanthropy. Black Friday provides an opportunity to enjoy shopping for items to serve our needs and bring joy to others during the holiday season.
The concepts of community and gratitude, epitomized by Thanksgiving, alongside capitalism and innovation, represent quintessential American values. Embodying the American spirit, these ideals celebrate the joy of community, the drive for entrepreneurship, and the spark of creativity and innovation.
As you’re doing your holiday shopping this year, I believe it’s crucial to think about the longstanding impact your purchases have on our economy and your fellow man. One way to promote freedom in your gift-giving is to consider visiting the John Locke Foundation’s new Locke Shop, where a portion of your purchase goes toward supporting liberty across North Carolina.
In the wise words of Ralph Waldo Emerson: “Doing well is the result of doing good. That’s what capitalism is all about.”
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