I don’t think that James Freeman should be overly concerned with the views of today’s college students. From his WSJ column:
When asked for their opinions of capitalism, 45% said they have a favorable view, 31% expressed an unfavorable view and the rest had no opinion, were unsure, or didn’t answer. Not exactly a ringing endorsement of the property rights that have made the United States the most prosperous nation in history, pulled billions of people out of poverty around the world and enabled, among other things, the funding of great universities.
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In fact few things in life are more harsh than living in a socialist economy. What’s the best way to help the youngsters avoid having to learn this lesson first-hand? Perhaps parents will choose not to leave their children’s education entirely up to tenured professionals and instead opt to assign readings on their own. Along these lines they might consider adding requirements each semester for any children who want tuitions paid on time. For example, students could be instructed to read and be prepared to discuss “The Opportunity Costs of Socialism†over Thanksgiving dinner.
I suspect that what most young people think socialism means is getting free stuff and helping poor people. The track record of state socialism—all that present U. S. “democratic socialists” are considering, when given free rein, is not good in those respects.
The track record seems to show that government in Europe is more benign and less grasping and, consequently, more trusted there than here. In the United States whether under alleged capitalism or alleged socialism government inevitably becomes a force for generating wealth for the rulers.
If there’s one think we know about youth it’s that it’s curable. The most straightforward way to combat state socialism in the United States is to ensure that young people have more to lose.
No, the young are considerably more politically sophisticated than their parents were. The initial draw to socialism was the obvious: capitalism is working poorly and they’re sick of being told it’s all their fault.
This is socialism among the young today, taught by an old socialist who has become very popular:
https://m.youtube.com/watch?v=a1WUKahMm1s
Article is paywalled away for me. However, the grass is greener over yonder hill is part of who humans are.
“the young are considerably more politically sophisticated”
What in the world does politics have to do with creating a social system conducive to wealth creation. If they can’t stand capitalism they don’t understand it.
youth is curable, love that one!
Youth think it’s a grand idea to solve the worlds problems with other people’s money……….until it becomes their money that’s used.
The problem with socialists is they realize they cannot achieve their goals voluntarily, so they take by force. What is never understood by the advocates is that there is no law that says they can’t send more money to the government than the IRS demands. It’s the damdest thing, no money where their mouth is. No real conviction; just empty words. No, it’s only YOUR money where their mouth is.
All production is political. That’s why capitalists spend tens of billions in the U.S. every election cycle on campaign contributions and lobbying, it’s why the state enforces capitalism and before it feudalism and slavery.
“I suspect that what most young people think socialism means is getting free stuff and helping poor people. ”
I am more with Ben on this since the young people we know are much more politically aware and sophisticated than what you describe. They seem to understand that we have elements of capitalism and socialism in our economy. I never hear anyone make the case for pure socialism, but I do hear the case for making us more like Germany, Canada or a Scandinavian country. I also never hear the case for getting rid of capitalism. My impression is that many are less enamored or uncontrolled capitalism after the banking crisis and the following recession. It has certainly affected them.
The caveat here is free tuition. In that case I think they just want free stuff, but I don’t think they want it because free tuition = socialism, I think they just want free tuition.
Steve