Capitalism Debate

December 4, 2019

Be it resolved, the capitalist system is broken. It’s time to try something different…

There is a growing belief in western societies that the current capitalist system no longer works for average people. Economic inequality is rampant. Life expectancy is falling. The environment is being destroyed for profits. Political power is wielded by wealthy elites and big business, not the people. For capitalism’s critics, the answer is a top to bottom reform of the “free market” along more socialist and democratic lines. For proponents of capitalism, it is the engine of economic and social progress, full stop. Not only has capitalism made all of us materially better off, its ideals are responsible for everything from women’s rights to a cleaner environment to greater political freedoms. The answer to society’s current ills is more capitalism, more economic freedom, and more free markets.