Why Is Capitalism So Unpopular?

Ludwig von Mises Institute ^ | September 7, 2009 | Art Carden

[lbryce]

Henry Hazlitt once said that good ideas have to be relearned every generation. Among the intellectuals of our time, capitalism is wildly unpopular. This in spite of the fact that it is the only social system that has permitted prosperity and flourishing.

Why they continue to oppose the free market in the face of such evidence is a matter of debate.

Some have argued that intellectuals dislike capitalism because they feel it doesn't offer them just rewards for their labors. Indeed, academic books do not sell particularly well, and it is easy for the dedicated scholar to feel a degree of envy when he sees "lesser" minds like John Grisham or J.K. Rowling bringing in boatloads of money for writing relatively straightforward fiction. (And that is to say nothing of professional athletes or, those most foul of professional villains, corporate CEOs.)

[Clintonfatigued]

A lot of capitalists have not behaved in a way that reflects well on the system. They played Russian roulette with other people’s money through reckless investments, gorged themselves with sky-high bonuses, enoucraged irresponsible behavior from their customers, bought unsafe products from overseas at dirt cheap prices which they proceeded to jack up, and ruined several communities by closing down places of employment and building new ones in third world hellholes. Also, they often had to be bailed out by the government.

It’s correct that Capitalism is the best system, but the people who benefit most from it have played a key role in giving it a bad name.

[AuntB]

“A lot of capitalists have not behaved in a way that reflects well on the system.”

I’m working on an article right now about this. Denny’s restaurants has been in Yreka,Ca. for decades. The families that worked there were mostly long time employees who ran the place. Last month a corporate head shows up at 3:00 pm. to inform them they were closing it down. No fore warning, nothing. The employees coming in for the night shift simply got a note on the door.

[Huck]

I’ll take GOP primaries for 200 Alex. The point is, Nixon sucked. Bush 1 and Bush 2 sucked. Voting GOP isn’t much to brag about. Nixon gave us welfare, the war on drugs, and eventually, Jimmah Carter. Bush 1 gave us Clinton. Bush 2 gave us Obama. Horrible presidents all.

[Huck]

That’s an excellent point. Capitalists have done for capitalism what Calhoun and the original “states rights” crowd did for federalism.

[Richard Kimball]

Also, they do it to get chicks. They can't do sports, they aren't good looking, or fun to be around, so they go for nerdy chicks by being intellectual radicals. It all boils down to the basics in the end.

Actually, they do it to get guys.

[Huck]

Nah, all you gotta do to get homos is hang out at a rest area or a public restroom. They really don’t care about politics or anything except weiners.

[r-q-tek86]

one for you

[Forgiven_Sinner]

“Because it’s based on merit and requires hard work?”

Ding! Ding! Ding! We have a winner! Vanna, show Tijeras_Slim what he’s won behind curtain number 3!

[Nanny7]

What happened on Wall Street used to be good for Main Street. Wall Street no longer cares what happens to Main Street.

[goodnesswins]

HA...I was thinking something similar....It’s TOO HARD!!!

[1010RD]

That nostalgia has no basis in historical fact. People have always tried to maximize throughout history.

Nothing has changed. Add technology to the mix and you still have the basic human being to contend with. Stone tools, steam egines or silicon chips haven’t changed that in all human history.

[nickcarraway]

Where does capitalism exist?

[headsonpikes]

Capitalism provides an economy with an ongoing reality check - that’s why the utopians hate it.

That’s hardly surprising - they think gravity is a bummer, too.

[Tolik]

Nailed It!

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[TheOldLady]

Was not the word “capitalism” invented by Marx?

Yes, as a pejorative.

I prefer the words “freedom of the person and his property.”

Come up with one word for that, like "conservanomics," or something, and you will have a winner.

Time for FR to coin another word!

[TheOldLady]

Those last three paragraphs really did nail it.

[DungeonMaster]

"Thou shall not covet thy neighbor's house...."

One has to have forgotten this commandment to dislike capitalism.

[TheOldLady]

Gib mee ur address dere...

[Republic of Texas]

Capitalism is unpopular because it’s hard. Nothing worthwhile in life is easy.

[TexasRepublic]

Most of mankind’s social/political ills stem from envy. The lazy or the stupid are jealous of those who have succeeded in acquiring more wealth than they have. Those parasites want to take what isn’t theirs, or barring that, to spitefully deprive those that have wealth.