The End of Capitalism?

In an article published in The Washington Post, the author contemplates the end of capitalism and the chances of its survival, through the lenses of a California Congressman and one of his very ultra-wealthy constituents. My issue with the author is not that the question of the end of capitalism is inappropriate, but that the author seems to be implicitly justifying its demise and endorsing the liberal rage against wealth.

“In places such as Silicon Valley, the slopes of Davos, Switzerland, and the halls of Harvard Business School,” the author writes, “there is a sense that the kind of capitalism that once made America an economic envy is responsible for the growing inequality and anger that is tearing the country apart.”

Notice that according to the author, capitalism “once” (the past) made America an “economic envy” (of the world).  My problem with this is that America STILL IS the economic envy of the world.  We have today the best economy of the last 60 years, with the lowest unemployment rate across all social groups.

My problem with this is that America STILL IS the economic envy of the world.  We have today the best economy of the last 60 years, with the lowest unemployment rate across all social groups.

Yes, billionaires like Chris Larsen are getting richer, but they are the ones who create the wealth that allow the less rich to have jobs that are also the envy of the world.  Just look at the millions who want to be a part of our “inequality.”

Is there inequality?  Yes.  But the author, showing his liberal stripes, implies that it is the Democrats who have the key to eliminating inequality caused by capitalism by legislating equality—through higher taxes, irresponsible expansion of social programs to people who have never contributed to them (like Medicare, Medicaid, and Social Security), and ultimately socialism.

Here is the good old redistribution of wealth to the rescue!  The author perhaps is too young to remember who in the late 1960s we threw money at the poor to help them climb out of poverty.  What did we get?  More dependence on government and more poverty.


I am not claiming our system is perfect or that we cannot do better.  My problem with the article is that there are no original ideas, no attempt to question the liberal dogma that the rich are to blame, and that more taxation and expansion of social programs will solve all our problems—because as I said we tried it before and it failed!

I feel sorry for Chris Larsen, on the richest persons on the planet, saying, “realizing some people hate your guts has some value.”  Chris, don’t feel guilty, you worked hard to earn those billions.  Do you really want to help?  Create more jobs, use your brilliant mind—and convince your fellow billionaires in the U.S.—to figure out how to train and integrate people into our thriving economy.

Oh, and don’t forget to pay your corporate taxes and do not use loopholes.  Corporate taxes are, thanks to this administration, lower than in Europe.  We also need you and your fellow rich folks to bring your wealth back the U.S. from off-shore accounts.

With the tax base you provide, with our capitalist system as it is, we can fund the necessary programs for those who really need it, and to rescue those programs from insolvency.

All without the leftist solutions, seemingly endorsed by the authors of the article, which would only serve to cripple our economy and make all of us equal—equally poor, jobless, and miserable…

And indeed bring about the end of capitalism.

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