Today, pretty much every economy in the world is organized along capitalist lines. Just like every system, it is looked upon with frustration, skepticism and a lack of trust.
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On college campuses, capitalism has a bad name. Many professors and students confuse self-interest with selfishness; or more importantly fail to distinguish the “equality of opportunity versus the equality of outcome.”
Blurring the lines between these concepts allows people to embrace authoritarian positions and misrepresent what capitalism is really about, mainly choice and competition.
Many of my journalist friends and activists whom I discuss such issues with look at capitalism in such an ill way.
They see it as a system that says “me! me! me!” and allows human beings to be exploited in a way as Karl Marx puts it, “wage slavery.”
Does capitalism have problems? Sure. However, it is not made to be perfect like some utopia.
Opinion Editor Benjamin Garcia looks at capitalism with disgust; and within that disgust he points out some criticism that is worth noting.
For example, in a few themes of the “Envelope,” he points out the suffering of the working class. I concede to this point, to some extent.
Another point I have a hard time objecting to is that major companies such as Apple, use their wealth to satisfy what are not the essential needs of human beings.
However, I must say that I don’t get to decide what consumers need or want. The consumers themselves get to decide what they want, and that’s the main position that I put forth in this column.
The idea of the free market is what I consider to be a Liberal position. To freely choose what one might want is a basic function of economic liberation.
Big corporations seem evil to us, and rightly so! However, putting the blame entirely on them lacks self-awareness.
It is our tastes as individuals that is partly to blame, and you know what? That’s the beautiful thing!
I get to decide for myself what is better, a PS4 or an Xbox One. I get to decide which late night show is better. I get to decide which restaurant is best, and so do you.
If I may quote the political theorist and Austrian Economist Friedrich Hayek on his understanding of liberty:
“A policy which deliberately adopts COMPETITION, markets and prices as its ordering principles.”
Competition is a key aspect of capitalism.
Through competition, ideas are able to thrive and be put into practice.
That which is the best idea or the best product, will out do the rest.
Persevering competition is what real capitalism is all about.
