A recent commentary makes the moral case for capitalism as polling shows growing public openness to socialism. A Gallup survey cited in the piece found socialism with a 43 percent approval rating, nearing capitalism's 55 percent positive view.
The commentary notes Democrats are increasingly embracing socialist figures, citing House Leader Hakeem Jeffries welcoming Democratic Socialists of America members into his caucus and California Gov. Gavin Newsom saying the DSA is going mainstream.
Defining socialism as collective or governmental ownership of production and distribution, the piece argues the term is interchangeable with communism as used by Karl Marx and Friedrich Engels. Capitalism is defined by the protection of private property and free markets guiding investment, prices, and production.
The argument frames capitalism as the freedom to make economic decisions regarding one's own money, investments, and career. It describes profit as a reward for providing valued goods or services through voluntary, win-win transactions that drive growth and lower prices.
Under socialism, the commentary contends, government control of production and distribution removes the freedom to choose what to buy, where to work, or what businesses to start. It asserts that capitalism's requirement to live with the consequences of one's choices is an essential component of freedom.
Sources: Las Vegas Review-Journal
Original reporting: Las Vegas Review-Journal →
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