In a recent op-ed, professor Kelli D. Potter said that today’s young people understand capitalism and socialism. The young adults you teach definitely know about socialism because you, my emphasis, are teaching them.
Bezos, Gates, Musk, and (even) Romney took all the risks in starting their companies. I do not know of the birth situations of the first three, but I do know the privilege that Romney was born into. I’m from Detroit, Michigan.
Romney’s father’s money, however, didn’t do all the course work to earn both an MBA, and law degree from Harvard. There is nobody on the planet that can give a number to all the people who sought their fame and fortune but failed drastically. We don’t know if anyone else tried to create an Amazon, Microsoft, Tesla, Bain Capital-like company because real society doesn’t give a participation trophy to everyone. Even the spectacular flame-outs were probably seeking fortune first, and if they achieved that, the fame followed.
Potter said that much of society has a class-based system. I’m going out on a limb here, but I bet Potter has tenure. Is there anything more class-based than that? That tenure allows scores of educators to put forth any ideas, because they know that nothing they teach will cause any effect on their, not insignificant, income.
When Bezos got divorced his ex got close to $20 billion dollars. It seems as if she is trying to give all of it away. How many charities, foundations, ad infinitum, have benefitted from those donations? I don’t know if anyone has turned down her gifts because they came from bad old Amazon, once removed, but I’m guessing that number was exactly zero.
If Potter were living in some countries, she wouldn’t have been given the opportunity to become an educator because the state would have chosen her future for her. Professor Potter would be well advised to not cast aspersions on capitalists if she doesn’t let those she teaches know about the out-sized advantage she has had due to capitalism. Even with all the warts capitalism has, it is still better to give people at least a chance to succeed financially.
I am 100% in favor of equal opportunity, but definitely not equality of outcome. Politicians have thrown trillions of dollars at failed programs warring on poverty, drugs, etc. Currently they want to give more, much, much more. If something is given to someone for “free” it’s not appreciated as much as if it were earned. All people who really want to get ahead can, with greater effort on their part. Socialism just doesn’t do that.
Mike McManus, Salt Lake City
