Dr. Martin Hash Podcast

Capitalism often evokes images of OWGs rubbing their hands together, making millions without ever working a day in their life just because they had money to start with. While indeed that is the endpoint if wealth is not redistributed, a modern capitalist is actually more likely to be someone with skill, perseverance & luck that works very hard & long for the rewards they receive. That's not to say that 100 other people didn't work just as hard & long, Capitalism is still at its core a lucktocracy, but it's the lottery-like aspect of capitalism, the idea that you or your children may become rich through self-effort, that makes it so appealing to people whose ideology is liberty. As long as we all know someone who has “made it,” as long as we have one potentially successful kid or cousin, even if the numbers are small we're okay with capitalism, love it even, dream about it. Also the game can't seem to be rigged, and we all have to benefit through the axiom that “a raising tide lifts all ships” for Capitalism to maintain its place as the most efficient mechanism to create wealth. The fact that Capitalism is based on the human motivations of envy, avarice & vanity also means we're going with nature's flow.

Due to the power of leverage, even with the creative disruption that Capitalism engenders, wealth accumulates, and in a purely Capitalistic society, it accumulates rather quickly. Vast accumulation of wealth inevitably becomes an aristocracy, the opposite of liberty. Other ideologies, such as socialism, recognize Capitalism for its efficiency and wealth creation capabilities, but do not like Capitalism in its pure form. And other collectivists, like Marxists, find Capitalism truly disturbing, even corrupt. One of the tactics of those who attack Capitalism is to exploit the human emotions of envy, resentment, pity & charity, but the fact remains that Capitalism is society's adrenaline.