Select Page

Socialists’ Cartoon Vision of Capitalism

The latest issue of the Tom Woods Letter, which all the influential people read. Subscribe for free and receive my eBook AOC Is Wrong: The Upside-Down World of Alexandria Ocasio-Cortez as a gift.

Someone in the Tom Woods Show Elite just shared this:

None of this is true.

I have never in my life met anyone who thinks “people exist to serve the market” and that if they cannot be profitable “their life has no value.”

Let’s start with the first part.

No capitalist I know thinks economics and production amount to all of life, and constitute the sum total of a person’s existence. What a truly bizarre thing that would be to say — which is why precisely nobody says it.

Second, what exactly is “the market”? It’s being used here as a bogeyman term, as if it’s some all-consuming entity that sucks the life and purpose out of unsuspecting victims.

In fact, the market is you and me.

The market is your fellow man.

What the author really should say (but would never portray us fairly enough to do so) instead of “capitalists believe people exist to serve the market” is “we capitalists seek to earn profits, to support ourselves, by serving our fellow man.”

“The market” is not a disembodied entity we should demonize. It’s the sum total of voluntary exchanges all of us make to improve our lives. When put that way it doesn’t sound so scary anymore, which is why our author never would put it that way.

Then we have “If a person cannot serve the market in a profitable way, their life has no value.” Again, literally (and I am using that word correctly) not a single person anywhere thinks this.

Nonprofit organizations are every bit as much a part of the market — which, again, is merely the nexus of voluntary exchange — as the corner store is. Likewise, capitalists are not required to say, “The Cathedral of Notre Dame isn’t aimed at the generation of profit, so it is therefore worthless.”

Some people have career-ending disabilities. Is there a capitalist anywhere who says “their life has no value”?

Is there a capitalist who says babies “have no value” until they own the means of production?

Or that retired people “have no value”?

Incidentally, which institution was it that sent millions of men to be brutally killed in the service of moving the front a matter of yards one way or the other in early 20th-century Europe? Was that “capitalism” or the state? Does that sound like an institution that thinks people’s lives have value?

How about the totalitarian regimes and genocides? Carried out by people who think our lives have value?

We’ve been trained to despise the market so much that the truth — which is the opposite of what’s been drummed into our heads — is invisible to us even when it’s right before our eyes.

I’ll leave the second paragraph of the Tweet to you as an exercise, my dear reader.

Meanwhile:

On November 13-14 I’ll be in Vienna to receive the Hayek Lifetime Achievement Award from the Austrian Economics Center.

I studied German for reading knowledge 20 years ago, but never learned conversational German.

People assure me I’ll be all right navigating Vienna, but we’ll see.

Meanwhile, if you’ve ever been interested in learning a foreign language, my friend’s company Rocket Languages is having a sale at the moment: 60% off the next 40 courses they sell. It’s a Halloween sale, but at this rate I doubt there will be any left on Halloween.

(I am dressing as the Tin Man, in case you were wondering.)

Enjoy: http://www.tomwoods.com/rocket (affiliate)

Download Audio

Read the original article at TomWoods.com. https://tomwoods.com/socialists-cartoon-vision-of-capitalism/


This post has been republished with permission from a publicly-available RSS feed found on Tom Woods. The views expressed by the original author(s) do not necessarily reflect the opinions or views of The Libertarian Hub, its owners or administrators. Any images included in the original article belong to and are the sole responsibility of the original author/website. The Libertarian Hub makes no claims of ownership of any imported photos/images and shall not be held liable for any unintended copyright infringement. Submit a DCMA takedown request.

-> Click Here to Read the Original Article <-

About The Author

Tom Woods

Thomas E. Woods, Jr., is the 2019 winner of the Hayek Lifetime Achievement Award from the Austrian Economics Center in Vienna. He is a senior fellow of the Mises Institute and host of The Tom Woods Show, which releases a new episode every weekday. Visit https://tomwoods.com

Leave a reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Welcome

Bringing together a variety of news and information from some of today’s most important libertarian thought leaders. All feeds are checked and refreshed every hour and pages auto-refresh every 15 minutes. External images are deleted after 30 days.

Time since last refresh: 0 second

Publish Your Own Article

Follow The Libertarian Hub

 

Support Our Work

Support the Libertarian Hub by tipping with Bitcoin!

Send BTC:
19PU2K7448gKxAvisR5cF6X5RquYfWu5vZ

Weekly Newsletter

Newsletter Signup

Subscribe to our newsletter to receive a weekly email report of the top five most popular articles on the Libertarian Hub!

Weekly Newsletter SignupTop 5 Stories of the Week

Subscribe to our newsletter to receive a weekly email report of the top five most popular articles on the Libertarian Hub!