Capitalism (That’s What I Want)

By Katie Kieffer


Image credit: “Enjoy Capitalism” by Isaías Campbell on Flickr via Creative Commons.

The Beatles once rocked America with their cover version of “Money (That’s What I Want).” Today, I’ll rock you with my version. Capitalism don’t get everything it’s true. What it don’t get I can’t use. Now gimme capitalism (that’s what I want).

Anti-capitalist sentiment is creeping into American culture and we need to immediately halt this trend. Even Republican presidential nominees Rick Perry, Newt Gingrich and Rick Santorum are plunging toward the vortex of need-based morality by aggressively attacking Mitt Romney—not for his socialist slips like RomneyCare—for his businesslike communication style and his record as co-founder of Bain Capital Ventures.

When Romney recently said: “I like being able to fire people who provide services to me,” he inadvertently gave his rivals fuel to attack him as a profit-hungry job-killer.

Santorum preaches that Romney fosters social division by using the widely accepted term “middle class” instead the politically correct term “middle income.” Gingrich calls Romney a “looter.” And Perry quips that Romney is a “vulture” who pursued “get-rich schemes.”

Bain invested in a steel mill (GS Technologies) that eventually failed; layoffs ensued and Bain relied on help from the U.S Pension Benefit Guaranty Corporation to fulfill pension obligations. What Perry, Gingrich and Santorum fail to point out is that absurd union demands and government regulations (not warped capitalism) were largely responsible for the downfalls at GS.

It’s very dangerous to attack capitalism and capitalists for American job losses because, as economist Peter Schiff explained on Fox News, our own government played a major role in steamrolling corporations and contaminating the financial markets:

“This wasn’t created by the free market. All this excess leverage is there because of the government; it’s there because of the Fed. They did this; they infected us with this disease. The fact that all these companies are now dying … what they did is they provided Wells Fargo and all these companies with free money and let them go up and leverage it up. And it’s like, I use the analogy, if a kindergarten school teacher … passes out Pixy Stix and soda pop and then leaves the classroom and she comes back and the kindergarteners have wrecked the place, who do you blame?”

In 2009, economist Jim Grant pointed out the Fed’s role in ravaging America’s free market system. He said on CNBC’s Squawk Box that inflation: “is based principally upon the rate of money-printing. … Inflation is too much money. …  [And, with low interest rates, the Fed] has embarked on a vast experiment and moral hazard.”

The vulture comparison reflects Perry’s misunderstanding of both capitalism and vultures. Ron Paul points out that businesspeople routinely reorganize their companies in order to operate efficiently within the free market and, in the long run, reorganization can create jobs. In nature, vultures operate by eating and safely disposing of toxic carcasses. Vultures never intentionally infect healthy creatures with toxic waste and then feed off them (that’s closer to how the Communist Party of China operates, not vultures.)

The problem with painting rich businesspeople like Romney as evil is that money and capitalism are not evil. Rather, I contend that socialism is toxic. For, socialism is irrational; it denies man’s inherent right to own private property by using “need” as the standard for morality.

Socialism also leads to communism, as seen in the land of America’s Communist Sugar Daddy:

“In China, the government can force farmers to sell their land to developers, often at rock-bottom prices, to fuel a state-run real estate machine that disproportionately enriches the elites. But rural folk, who have rising expectations for a better life, are pushing back, as evidenced by a highly visible battle over a landgrab in the fishing village of Wukan, where a local leader recently died in police custody. This is just one of thousands of protests in China every year—about 60% of them related to land disputes, according to Ran Tao, a senior fellow at the Brookings-Tsinghua Center. … [China has] hundreds of millions living on less than $2 a day—and cheap land to exploit, particularly in the West, ” writes Rana Foroohar in TIME Magazine.

If you define morality on the basis of need, bullies rule society. Might makes right and politicians will seize land, power and wealth for themselves because they supposedly need it more than commoners who scrape by on $2 a day. When need is the standard of morality, you lose control over your livelihood. Any powerful bureaucrat can take your money or property and call himself “Robin Hood” but you can’t get mad or call the cops or take him to court because he’ll just say he “needs” your property more than you do.

Now gimme capitalism (that’s what I want).

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  1. Cato says:

    A cute, smart girl who is libertarian! Makes me happy. Normally us libertarians are male-dominated. I wish you all the best.

    Have you read Bastiat's The Law? I read that recently — I think it sums up well why socialism is evil.

    I love capitalism although capitalism really isn't the core of the issue. For me the core issue is individualism vs collectivism, and whether people should be allowed to live according to their own whim and conscience even if it does not provide benefit to society. Laissez faire capitalism is just one social structure that emerges as a consequence of granting people the freedom of individualism — they might also freely choose say voluntaryism, communes, living like Thoreau at Walden, or whatever else, so long as they don't demand that everyone in society follow their social structures.

    Capitalism on the political right is often simply crony capitalism, protectionism, based on lobbying DC for political favors, etc, which is inherently collectivist. Likewise on the left many of their ideas on regulation, protecting their lobbyists' interests, expanding government, etc, are also inherently collectivist. So I prefer to reject collectivism entirely, which allows certain kinds of free, laissez faire capitalist companies to thrive, particularly in industries such as high tech that have traditionally focused on starting new companies rather than getting on the government dole. But in a free, individualist society no one need be mandated to participate in capitalism — for all I care, they can make their own socialist enclave in Berkeley so long as they don't force me to participate. 🙂

  2. defendit says:

    The Iron curtain of LIEberal Saul Alinsky Marxist program will unravel once those within its illusions and false images /spin/ hollow incriminating criminal defense style tactics for subversion and sophistry see the error and place in the program which they believing they are in a neutral place really are instead: effectively neutralized, manipulated and drawn into the yoke and scam.

    We must continue to spread the word just as Paul Revere did.

    This is really bigger than just the upcoming elections. In order to restore our constitution, economy and culture we must speak and show those who need to see what’s going on to vote the bums out of power and to mount an effective counterrevolution of ideas against those who believe in coercion and Saul alinsky strategy of deception and community “organizing” I.e. dividing and conquering the American people. Well its time to do some real community organizing now: only the truth will get us out of this.

    To shy from and to delay this task any longer is simply not an option its the WRONG ANSWER. We must expose the consequences/damage that results when these seditious utopian extremists and hacks attain power. Like president Reagan who faced them down when they were primarily the foreign enemy the USSR rather than the domestic tyrants and economic/Marxist re-education czars they are and violating offices and positions and using the titles as justification for undermining the very laws and foundations by which they claim authority to do so in the first place. Never stopping to think about why their utopian theories haven’t worked anywhere else in the world despite the fact that the pesky government limitations and form which supposedly interferes with their notion of how the world works not hindering them in those places by “virtue” of the fact of their absence there.

    We concerned patriots, including those who have been supporting those who have appointed and empowered such luminaries as Obama and Ruth Badger Ginsburg, Supreme Court Occupier and ACLU lawyer who just this month said that she would not look to the American constitution as a model if she were drafting a constitution in the year 2012- must finally admit what is happening. We must come clean to ourselves about the great Saul Alinsky swindle and Amway type multilevel marketing con job involving hope and dope or sophisticated well funded and organized and targeted “hope a dope” political science by a seditious little oligarchy and red army/5th column that have been working feverishly for decades beneath the shadows and behind the curtains of the lib media, the blue states, Washington d.c., and the long ago occupied tenured radical PC controlled and corrupted education system from top to bottom. Thats the big story.

    The presidency is just the tip of the iceburg – or spear of this dangerous mob. Who are these people? We know who at least one of them is: the son of a Marxist mother named “Stanley”in the 1940s, left to be raised by Marxist grandfather who exposed him to “uncle” Frank Marshall Davis communist party lawyer/propagandist/Obamachildhood mentor while the 11year old boy would go into Honolulu red light district bar with GRAMPA Stanley with pornographic depictions of Disney characters as Obama himself described in page 77 of his own written autobiography “Dreams From My Father” This was the son of Kenyan Marxist economist who wrote a critique entitled “problems with our socialism” or some such thing. That’s who these people are. That’s who they have been all along. Its incredible but what else can explain so much about what has been happening?

  3. Kris says:

    Smart and hard-hitting. Great writing.

  4. Marie Frances says:

    You are right when you wrote, "When need is the standard of morality, you lose control over your livelihood." It is tough.

  5. Lighthorseman says:

    Katie, you are spot on with your observations and comments. I just discovered your blog and will be catching up with your writings and following your posts.

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