I read Brendan O’Neill’s response to Perry’s challenge to take his spot-on rejection of ‘fixed wealth fallacy’ to its logical conclusion, i.e. laissez-faire capitalism, with mounting – wait for it – agreement.
For I agree with Brendan’s disappointment with ‘capitalism’ – I am also unimpressed by blundering inefficiency of large corporations and big businesses, by short-term horizons and inconsistency of their management. And I too am depressed by the effect ‘the limited mindset of capitalist bosses’ has on entrepreneurship, innovation and progress (even without the recent headlines about fraud and criminal accounting). What I see in the corporate world of today though is not laissez-faire capitalism but statist corporatist capitalism. Which by any other name would stink as much…
I do not understand though what Brendan means when he complains that capitalism cannot provide enough for everyone and can’t deliver what the world needs:
Of course, the truth is that neither side has a solution. It seems perfectly clear to me that we need more development, more production, and bigger and loftier ambitions. The capitalists can’t deliver that, and the trendy anti-capitalists don’t even aspire to it. To that end, I would say I am neither a capitalist, nor a so-called ‘anti-capitalist’.
I admit, Brendan, I do not have a solution, but then, I am not on either ‘side’ since my ambitions are bigger and loftier. The difference is I do not expect anyone, state or institution, to provide for me. I want the freedom to provide for myself and my nearest and dearest without interference from anyone. And I want free markets to be the mechanism for communicating my needs and for meeting other peoples’ needs. Because that is what capitalism is – the most efficient mechanism known to man for pursuing individual rights and freedom. It may not eliminate inequality but offers means to generate wealth to redress it.
Most importantly, it is freedom not capitalism that encourages creativity and motivates individuals to develop and progress. Laissez-faire capitalism ‘merely’ maximises that freedom and enables those individuals to pursue their ambitions. So let’s not complain that capitalism does not supply the big and lofty ambitions that Brendan needs – for me, that would be a depressing choice.
