Saturday, February 16, 2019

Capitalism Worth Fighting For

For all its inequalities, capitalism has created more wealth by far than any other known system, and shared it more widely too. This is because it works with normal human proclivities, instead of against them as socialism does.

Peggy Noonan has a column in the Feb. 15 Wall Street Journal (behind WSJ paywall but posted at Apple News app) in which she implores Republicans to save capitalism. Capitalism, Noonan correctly predicts, will be under full-scale assault by Democrats who are headed left at a gallop. It is the job of Republicans to save capitalism, she believes, in much the same way Roosevelt did in the 1930s.

Given the economy today has seldom been better, when then it had never been worse, I’m not certain her FDR comparison is an apt one. I’d say the angst Trump voters experience is more social than economic, a cry of “I want my country back, you’re destroying it.”

They see schools that indoctrinate but don’t teach, marriage becoming the exception rather than the rule, the insane living rough on the streets, illegal immigrants flooding in, and manufacturing jobs shipped overseas with no thought about the fate of those whose work has gone. It’s not a pretty picture.

Sadly, Noonan can’t quite bring herself to admit “reality TV star” Trump has made things less bad. I recommend her column to you. If I can find an URL for it I’ll add it later.