The debate between capitalism and socialism is at least partly a debate over morality. The left claims benevolent socialism is necessary to protect the masses from the immorality of capitalist greed. Much of America’s youth appears to be buying into this myth.
A recent Gallup poll found that young Americans were actually more positive about socialism (51 percent) than about capitalism (45 percent). The percentage of young Americans with a positive view of capitalism has declined 23 points since 2010, when 68 percent viewed capitalism positively. That’s not surprising, given that most of these young people have been educated in a system controlled by progressives and fed leftist ideology as entertainment.
Filmmaker Oliver Stone personified the progressive notion of capitalist greed in the 1987 movie “Wall Street,” in which his character, Gordon Gekko—the Left’s stereotype of a capitalist—utters the phrase “Greed is good.” But, outside Hollywood, greed is not good, and capitalism is not based on greed. To the contrary, capitalism encourages people to improve their lives by satisfying others’ needs and desires, by providing the products or services that other people want at a price they can pay.
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This Op-Ed originally appeared in The Federalist on August 21, 2018.