In the latest video for Prager University, Jared Meyer of the Foundation for Government Accountability explains why everyone loves capitalism.
From the iPhone, to Netflix, Uber, and Airbnb, there are countless new services that have quickly become necessities. Could you imagine life without your smartphone today? I can’t!
While millennials today tend to have a negative view of capitalism, it’s not the free market they have a problem with. Rather, it’s what they think capitalism is that they have a problem with. After all, this generation grew up witnessing a heck of a lot of crony capitalism, culminating in the government propping up the housing market then bailing out the losers when the house of cards collapsed. The generation prior grew up under the Cold War – a battle of actual capitalism versus the horrors of communism.
What can be done to convince this generation otherwise? There’s plenty of evidence to suggest that millennials inclined towards socialism become more inclined to support capitalist policies (lower taxes, less government redistribution) once they start paying taxes and learn that there truly isn’t such a thing as a free lunch.
Another way to convince them would be to show them how capitalism has contributed greatly to their standard of living – which you can see in the video below.
Have a socialist friend who needs convincing? Have liberal children or grandchildren? Be sure to share this post with them!
