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Anti-Capitalism has gone off the rails. I am someone who has de…

Posted on July 9, 2020 by Shahid Bolsen

Anti-Capitalism has gone off the rails. I am someone who has devoted an enormous amount of words criticizing the economic system in the US and globally, and arguing against mechanisms that consolidate wealth in fewer and fewer hands; but the critique coming from this quarter has become overly ideological and dishonest. The fact is that people can change their economic situation, they can create wealth, they can have upward social mobility. It is highly deceptive to paint a picture of the economic system as one in which poor and working-class people are permanently trapped in a life of deprivation and misery.

Criticisms of corporate power, monopolization, undemocratic influence, and unfair policies and practices that contribute to a destabilizing accumulation of wealth, must be distinguished from calls for equal distribution of wealth, or any other such proposal that denies the role chosen human behaviour plays in one’s financial circumstances. Those sorts of views are profoundly harmful, to say nothing of being demonstrably inaccurate. You do not actually help the poor by a forced redistribution of wealth and assets. If you undertake something like this, the identical class dynamics will resurface within one generation, with the same people being rich and the same people being poor as when you started out; because wealth is not created except through the development of human capital, and it is not maintained without effort, while poverty is inevitable in the absence of these factors.

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