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There is a time to push for change, when the status quo fails to serve the needs of the people. Now is not that time. Especially if the alternative is a system that places government interest above the people and consistently fails in comparison to our current system. People want to live and work in economies with robust job growth, steady wage increases, and wealth creation. While free market capitalism is not free from flaws, it still outperforms other systems. Let’s not irrationally kill the golden goose over hysteria and false narratives. Instead, policymakers should work to help people compete and succeed. 


Like many arguments from the left of center ideology, proponents of socialism use faulty and incomplete logic to make their case. For instance, they sell the public goods made available in socialist economies, like those in Scandinavia and our neighbor to the North, like used car salespeople offer freshly painted lemons to unsuspecting customers. There is more to the narratives than what the messaging suggests. 


The focus should be on ways to help expand opportunities to those struggling to succeed in our capitalist economy. The flaw with pure free market capitalism is that consumers, producers, and all participants must be skilled, dynamic, and able bodied. Some in our society are unable to compete or contribute, either by no choice of their own or due to poor choices made in their past. Policymakers should care for those that truly can’t help themselves and help the rest re-establish their ability to plot their own economic success story. 


The reality is free market capitalism works and socialism does not. Many of the “negatives” blamed on free market capitalism is due to flaws in regulations not adequately addressed or reformed. For instance, the financial crisis largely created by federal housing regulation that expanded NINJA loans, leading to the bubble. Keep in mind, regulation is needed, but needs to be properly administered and adjusted to current market conditions. Here are some final thoughts.