Young Americans Reject Capitalism

[Cheerful Charlie]

https://www.washingtonpost.com/news...-shows/?utm_source=nextdraft&utm_medium=email

In an apparent rejection of the basic principles of the U.S. economy, a new poll shows that most young people do not support capitalism.
The Harvard University survey, which polled young adults between ages 18 and 29, found that 51 percent of respondents do not support capitalism. Just 42 percent said they support it.
....
"The word 'capitalism' doesn't mean what it used to," said Zach Lustbader, a senior at Harvard involved in conducting the poll, which was published Monday. For those who grew up during the Cold War, capitalism meant freedom from the Soviet Union and other totalitarian regimes. For those who grew up more recently, capitalism has meant a financial crisis from which the global economy still hasn't completely recovered.



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And of course, right wingers on talk radio, TV et al telling us repeatedly that anything good and progressive is "socialism".

 

[southernhybrid]

It might just be due to their age. My generation was the same way when we were in college.

 

[Harry Bosch]

https://www.washingtonpost.com/news...-shows/?utm_source=nextdraft&utm_medium=email

In an apparent rejection of the basic principles of the U.S. economy, a new poll shows that most young people do not support capitalism.
The Harvard University survey, which polled young adults between ages 18 and 29, found that 51 percent of respondents do not support capitalism. Just 42 percent said they support it.
....
"The word 'capitalism' doesn't mean what it used to," said Zach Lustbader, a senior at Harvard involved in conducting the poll, which was published Monday. For those who grew up during the Cold War, capitalism meant freedom from the Soviet Union and other totalitarian regimes. For those who grew up more recently, capitalism has meant a financial crisis from which the global economy still hasn't completely recovered.



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And of course, right wingers on talk radio, TV et al telling us repeatedly that anything good and progressive is "socialism".

Okay. However, check out the following quote from the linked story: "Just 27 percent believe government should play a large role in regulating the economy, the Harvard poll found, and just 30 percent think the government should play a large role in reducing income inequality. Only 26 percent said government spending is an effective way to increase economic growth."

 

[untermensche]

They are not stupid.

They simply have eyes.

Trillions going to the Military Industrial Complex.

To give us things like ISIS. So the greedy bastards can cry for more money.

Capitalism is simply what fuels modern Imperialism.

It does not represent freedom nor is it a force for good or a system that is sustainable.

 

[Nice Squirrel]

It always depends on how we define capitalism. I believe I am a capitalist, but I am often considered a socialist because I criticize unregulated capitalism.

 

[Jason Harvestdancer]

They have seen corporatism, and have seen it called capitalism. See untermensche's post for an example of that.

No wonder they reject "capitalism".

 

[dismal]

Well, the good news is people usually change their minds once the bodies start to pile up.

 

[Nice Squirrel]

They have seen corporatism, and have seen it called capitalism. See untermensche's post for an example of that.

No wonder they reject "capitalism".

Can you pull corporatism out of capitalism? Or is this a dream?

 

[thebeave]

 

[Trausti]

Smart kids. Getting rid of capitalism will shorten the work week. Winning!

https://www.washingtonpost.com/news/worldviews/wp/2016/04/27/venezuela-declares-a-2-day-workweek-because-of-dire-energy-shortages/

 

[Jason Harvestdancer]

They have seen corporatism, and have seen it called capitalism. See untermensche's post for an example of that.

No wonder they reject "capitalism".

Can you pull corporatism out of capitalism? Or is this a dream?

I believe it can be done, but every single person in elected office has an interest in it not being done.

 

[Harry Bosch]

It always depends on how we define capitalism. I believe I am a capitalist, but I am often considered a socialist because I criticize unregulated capitalism.

Yea, don't let conservatives define socialism!

 

[RavenSky]

It always depends on how we define capitalism. I believe I am a capitalist, but I am often considered a socialist because I criticize unregulated capitalism.

^^^ That

They have seen corporatism, and have seen it called capitalism. See untermensche's post for an example of that.

No wonder they reject "capitalism".

Can you pull corporatism out of capitalism? Or is this a dream?

Yes, I think so. One part of that is exactly what you said first - regulating capitalism. Perhaps more importantly, overturn Citizen's United and further eliminate corporate influence in politics. Another concept is stakeholders rather than shareholders.

 

[Jason Harvestdancer]

Can you pull corporatism out of capitalism? Or is this a dream?

Yes, I think so. One part of that is exactly what you said first - regulating capitalism. Perhaps more importantly, overturn Citizen's United and further eliminate corporate influence in politics. Another concept is stakeholders rather than shareholders.

I can't agree. The whole point is that this is the system with the least regulation. Perhaps we can't get to zero regulation, but for those that favor it the closer the better.

 

[SimpleDon]

^^^ That

They have seen corporatism, and have seen it called capitalism. See untermensche's post for an example of that.

No wonder they reject "capitalism".

Can you pull corporatism out of capitalism? Or is this a dream?

Yes, I think so. One part of that is exactly what you said first - regulating capitalism. Perhaps more importantly, overturn Citizen's United and further eliminate corporate influence in politics. Another concept is stakeholders rather than shareholders.

Capitalism isn't a natural, organic social construction. It is what we make it.

Likewise, corporations are artificial constructions built to facilitate and improve capitalism. They are what we make them.

We have gained a lot from corporations. They have given us economies of scale, i.e. high productivity. They deliver a highly complex and expensive degree of innovation.

What has happened is what always happens when we don't properly regulate our "constructions." They gain control of the regulation mechanism and turn it to their benefit and to our loss. Allowed to continue to its logical conclusions this process will consume the gains from the corporations and leave them able to make large profits without delivering high productivity and innovation.

 

[SimpleDon]

Yes, I think so. One part of that is exactly what you said first - regulating capitalism. Perhaps more importantly, overturn Citizen's United and further eliminate corporate influence in politics. Another concept is stakeholders rather than shareholders.

I can't agree. The whole point is that this is the system with the least regulation. Perhaps we can't get to zero regulation, but for those that favor it the closer the better.

And we are currently at that point of the least regulation possible. Every time that we reduce regulations now, the problems that were held in check by the regulations recur.

There is no better example of it than the Great Financial Crisis of 2007/8. When unregulated derivatives almost destroyed our commercial banking system because the banks were allowed to speculate in the derivatives with the money from government insured deposits. Regulations had previously kept commercial banking, a vital function for capitalism, separate from speculation, largely unneeded and frequently toxic to our economy, and more than deserving of regulation.

It is easy to show that we are at the point of the least amount of regulation possible. You ask the people who believe otherwise to list the regulations that should be eliminated, that are harming the economy, or that have no purpose. They struggle to find examples.

There are regulations that are badly written. There are regulations that are obsolete, but pretty much by definition these can't be harming the economy. But they are none that aren't needed or weren't needed when they were written.

 

[angelo]

https://www.washingtonpost.com/news...-shows/?utm_source=nextdraft&utm_medium=email

In an apparent rejection of the basic principles of the U.S. economy, a new poll shows that most young people do not support capitalism.
The Harvard University survey, which polled young adults between ages 18 and 29, found that 51 percent of respondents do not support capitalism. Just 42 percent said they support it.
....
"The word 'capitalism' doesn't mean what it used to," said Zach Lustbader, a senior at Harvard involved in conducting the poll, which was published Monday. For those who grew up during the Cold War, capitalism meant freedom from the Soviet Union and other totalitarian regimes. For those who grew up more recently, capitalism has meant a financial crisis from which the global economy still hasn't completely recovered.



----

And of course, right wingers on talk radio, TV et al telling us repeatedly that anything good and progressive is "socialism".

That's not surprising. What do younger people know about hard work to earn a dollar! They expect government handouts at every turn. Progressives equate with socialism. Look at Bernie Sanders supporters, mostly from that age group.

 

[bilby]

https://www.washingtonpost.com/news...-shows/?utm_source=nextdraft&utm_medium=email

In an apparent rejection of the basic principles of the U.S. economy, a new poll shows that most young people do not support capitalism.
The Harvard University survey, which polled young adults between ages 18 and 29, found that 51 percent of respondents do not support capitalism. Just 42 percent said they support it.
....
"The word 'capitalism' doesn't mean what it used to," said Zach Lustbader, a senior at Harvard involved in conducting the poll, which was published Monday. For those who grew up during the Cold War, capitalism meant freedom from the Soviet Union and other totalitarian regimes. For those who grew up more recently, capitalism has meant a financial crisis from which the global economy still hasn't completely recovered.



----

And of course, right wingers on talk radio, TV et al telling us repeatedly that anything good and progressive is "socialism".

That's not surprising. What do younger people know about hard work to earn a dollar! They expect government handouts at every turn. Progressives equate with socialism. Look at Bernie Sanders supporters, mostly from that age group.

And, indeed, Bernie himself.

These young men, pretending they know about the real world...

 

[iolo]

I suppose young people now are like young people in the 1930s - if you have to live with the consequences of the silly system's periodic collapses you find it difficult to be a faithfully believer, never mind how much the priests bully you.

 

[lpetrich]

And of course, right wingers on talk radio, TV et al telling us repeatedly that anything good and progressive is "socialism".

That's not surprising. What do younger people know about hard work to earn a dollar! ...

Evidence?

All this talk about "hard work" I find silly. Why is easy work supposed to be so horrible? As long as it is productive, why is it supposed to be a horrible sin?