I have started listening to more podcasts while driving. Do not care for much of what passes for “music” these days. And often the times I am driving are when NPR is not broadcasting the news. Plus trying to find ways to feed my mind and my soul.
Downloaded a couple podcasts by Dr Clark Carlton who is assistant professor of philosophy at Tennessee Tech. In his “Faith and Philosophy” podcasts he comments on “matters of faith, philosophy and Orthodoxy”. Today listened to “My Two Cents on Capitalism”.
Interesting and provocative. In a nutshell he tries to explode two – no three – myths about capitalism.
- Capitalism does not depend on private property and free markets.
- Socialism and progressivism are not (given #1) therefore real alternatives to capitalism.
He argues that much of what we call “capitalism” is not really free market economics and even is the enemy of private property. It is government manipulating markets in order to benefit those whom the government favors. Which often turns into big corporations making huge amounts of money by influencing government policies. (My paraphrase not his.)
“No way” some might say. But think about recent experience. (This next part is me not Carlton.) Fannie Mae and Freddie Mac. Government bailouts of financial companies. Government bailouts of automobile companies. “Green jobs”. “Stimulus packages”. Perhaps even the Federal Reserve. Who loses? Who benefits? The average American?
A dirty little secret is that the Democratic party is the party of big business. Which is not to say the Republican party is much better.
During this podcast Carlton compares how Thomas Jefferson envisioned America as opposed to Alexander Hamilton and further argues that the Jeffersonian vision began to lose ground around 1860. My grasp of American history is very weak so I am not sure how to evaluate what he says. My expertise in history ends around 600 B.C.
The podcast is not long about 10 minutes. You do not have to agree with him. But it is interesting and challenges some of what we call “conservatism”. It also suggests that President Obama is more of a capitalist (properly understood) than many might realize.
