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Capitalism Is Moral, Socialism Is Not

At the Mises Institute Gary Galles says that capitalism “a.k.a. self-ownership,” is the only moral economic system. That’s free-market capitalism, to be clear.

The way I see it, the kind of capitalism we have in America now is a combination of free market capitalism, and “crony capitalism” or crony socialism in which wealth is redistributed via protectionism and regulation that favors established firms over those attempting to “get one’s foot in the door.”

Galles explains how Alexandria Ocasio-Cortez, Elizabeth Warren and Bernie have it all wrong. He writes about the moral aspect of free-market capitalism, which is “better defined as a system of private ownership of resources, including one’s labor, not simply ownership of capital, coordinated by solely voluntary arrangements. Private property prevents the physical invasion of a person’s life, their liberty, or their property without their consent. By preventing such invasions, private property is an irreplaceable defense against aggression by the strong against the weak. No one is allowed to be a predator by violating others’ rights. In such a system, capitalists need the voluntary consent of laborers in their arrangements, preventing capitalists from exploiting laborers.”

And Thomas Knapp writes about how today’s socialists hate the gig economy that yesterday’s socialists wanted. Yesterday’s socialists wanted worker ownership of the means of production, yet today’s socialists reject that.

Knapp gives the example of drivers for Lyft and Uber, in which drivers own their own cars (worker ownership of the means of production) and have control over their hours worked rather than being controlled by a boss.

But today’s “democratic socialists” fought tooth and nail to preserve the capitalist “medallion cab” monopoly, and having lost that fight they’ve re-oriented their struggle toward roping the drivers, and the companies they choose to work with, into the old-style capitalist “wage employee” system.

They don’t want the wage system to go away. They just want to run it.

They don’t want the workers to own the means of production. They just want to tax and regulate it.

They don’t want a classless society. They just want to be the new ruling class.

Those who believe in the moral way of life, that of self-ownership and voluntary (not coerced or compelled by government) contracts would favor the independence and autonomy of working for Uber or Lyft, and the authoritarians would favor enslaving the drivers by forcing them to have to spend a life savings on a medallion and be under the control of  a dispatcher boss.

But the conservatives these days are almost just as bad in their rejection of free markets, private property and voluntary contracts.

In any event, Elizabeth Warren, Alexandria Ocrazio-Cortez and Commie Bernie are the least moral characters when it comes to policies they favor: government theft of private wealth and property, government-compelled enslavement of the workers and producers, and the POLICE STATE to enforce their immoral tyranny.

Published inAuthoritarianismEconomicsFree marketPrivate propertySocialismVoluntaryism