Capitalism, Freedom, & Gratitude—that is what I hope each American takes time to reflect on this Memorial Day. Many view this holiday as the unofficial kick-off to Summer. A long weekend, grills cooking up some of the finest backyard recipes, and fun in the sun. This year the holiday seems to take on a new significance amidst the backdrop of the Pandemic where we have all been cooped up and socially distanced for over a year. But as we enjoy this feeling of freedom and liberation from the pandemic, it’s important to remember why freedom itself is an American value and why it feels so good. Also why it is inextricably linked to capitalism, and why so many have died fighting for it. Only then can we appreciate and honor the sacrifices of those who gave it all.
Lately there seems to be a change in American Society. We have developed a new perspective on our history in which, rather than celebrating the good, we highlight the bad in pursuit of social justice. Often, we focus on the things that set us apart in pursuit of righting social wrongs and propagating equality. This fervent desire to smooth out the disparity in income and wealth, purportedly as a result of historic injustices in America, has caused us to turn a keen eye toward socialism on moral grounds not economic ones. This idea that we can and should right historic injustices using the tools of government to even out the distribution of wealth and income because it is a moral imperative is often taken on its face and uncomfortable to challenge for many decent and caring people without fear of offending someone or their lived experience. All of this despite a large body of evidence pointing to Capitalism as a superior tool to achieving widespread prosperity. The economic battle between Capitalism and Socialism has been fought and won with Capitalism dealing Socialism a resoundingly fatal blow. However, the battle between Capitalism and Socialism on moral grounds is heating up.
However, this idea that socialism is somehow more humane or moral was thoroughly examined by Milton Friedman in his 1962 book entitled, Capitalism & Freedom. First, Friedman pointed out that capitalism relied on the free exchange of goods and services between individuals with a competitive advantage in pursuit of their own economic self-interests creates a society where voluntary cooperation among individuals results economic surplus. In order to capitalize from another person, one must first produce something of value to mankind to participate in this free exchange. A second point Friedman pointed out was to answer which system is more humane. To do so, one must look at the results each system produces. We can look at the USSR vs. the USA in the cold war, Pre-market economic system China vs Post-market economic system China, North vs. South Korea, or East vs. West Berlin. Most recently we see the socialist failing in Venezuela. In 1958, Venezuela become democratic and prospered until Chavez rose to power and introduced the socialist party in 2007 leading to today’s total economic collapse including breadlines, widespread poverty & economic inequality. In nations that have had capitalism, there has been less economic inequality, more prosperity, and more social justice when compared to nations where there has been socialism. If these are the results, which is more humane…more moral? Capitalism and freedom are linked, and so are Socialism and Servitude. Yet this evidence rarely takes the wind out of the socialist’s sails because despite the economic failing of their ideas, they resonate morally. In short, socialism doesn’t DO good, but it makes us FEEL good. Shouldn’t DOING good, make us FEEL good?
Americans value Freedom. The American Dream is often to earn a living doing something we have a passion, interest, or propensity for and forge a life for ourselves and children that is better than what our parents were able to provide. Each of us, pursuing our own economic self-interest, delivering value to our fellow man is what America is about. The freedom to pursue this and the mission to spread this is the essence of the American Dream. Does America have a checkered past? Have we made Mistakes? Of course, there are as many perfect nations as there are perfect people—zero. But when we acknowledge past injustices or current imperfections, we must ask ourselves, compared to what? Would the world be a better place with China or Russia as the world’s sole superpower? Is there some other place on the planet where more people have been uplifted from poverty or where more good has been done? Our founding documents challenge us to chase a more perfect union. Perfection is impossible, but if we chase perfection, we may achieve excellence. Progress is in our DNA, not prejudice.
Capitalism is fundamentally a system based upon individual freedom whereas socialism is a system based fundamentally upon the collective and servitude. In America, we are losing the idea that freedom is valuable. If we valued freedom, we would be willing sacrifice for it, fight for it, and work to maintain it. But we no longer value freedom, and are therefore willing to accept the servitude of socialism on moral grounds despite a heap of economic evidence pointing to its inferiority. Over 1,100,000 U.S. Service-members gave it all to ensure our freedom. To show our gratitude for that sacrifice, and to honor it, we must be stewards of that hard fought freedom for future generations. If we want American freedom to survive, we must acknowledge capitalism and freedom are inextricably linked just as are socialism and servitude. That may be uncomfortable to point out when we often hear socialism as a moral argument and feel it may offend a person’s lived experience. However, if we value freedom, we must acknowledge capitalism plays a crucial part in our economic and individual freedom and therefore American Dream. We must show gratitude for the sacrifice from so many by renewing the VALUE of Freedom and Capitalism, and all it takes to win and maintain it. Let us reflect on Capitalism & Freedom, and show gratitude for them both this Memorial Day.
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