De-Rigging Capitalist Privilege

Internet Abstract

When Charles G. Koch, the chief executive officer of his family business, recently wrote an op-ed for the Washington Post saying he agreed with Democratic presidential candidate Bernie Sanders that our economic system is “often rigged to help the privileged few,” it raised eyebrows even among the company-town’s power structure.

The online version was absolutely swamped with comments. Almost all of the commenters agreed about the evils of crony capitalism but most of them unfairly attacked Koch as hypocritical for being a capitalist himself. The examples he presented of Koch Industries’ opposing government subsidies that could have advantaged its business counted for exactly nothing. Pretty tough to crack the capitalist stereotype even when the capitalist supports one of the Left’s core precepts.

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The End of the Road to Serfdom

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Future students of our age may well treat Friedrich Hayek’s The Road to Serfdom and James R. Otteson’s The End of Socialism as bookends on an era. Hayek raises the specter of state collectivism in his classic work from 1944. In this new book, Otteson charts socialism’s end, in both senses of that word: the goals it fails to realize as well as its inevitable collapse.

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American Capitalism Created the Computational Revolution

innovators-9781476708690_lgWalter Isaacson is one of our greatest biographers. He has written three superb portraits of men who in large measure defined their age—Benjamin Franklin, Albert Einstein and Steve Jobs. Isaacson has both the empathy and knowledge to make subjects as varied as a universal sage, a scientific genius, and an entrepreneurial visionary come to life. He has now written The Innovators, a group sketch of people who have created our world of ubiquitous computation.

It is a finely etched and exciting picture. We learn that Ada Lovelace, Byron’s daughter, was the first to understand that computational machines could do any logical operation with the right instructions: she is the grandmother of software. And William Shockley was so paranoid that, even after winning the Nobel prize, he obsessed over who on the Nobel committee might have tried to prevent him from getting it. Isaacson also skillfully weaves important themes through the book, such as the ability of many innovators to do, in the words of the Countess Lovelace, “poetic science,” combining aesthetic sensibility with analytic acumen to create new products.

Unfortunately, in his explanations of what drives progress in technology and innovation, Isaacson slights the role of markets and of America.

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Delish Dinesh

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There’s something deliciously impertinent about Dinesh D’Souza. Watch D’Souza here, facing off against Bill Ayers in front of a full auditorium. He opens with a joke about metal detectors, a sly reference to the bombs Ayres set off in the 1960s. A few minutes later, he skewers Ayres for his cushy trust fund background. Attaboy Dinesh, you’ll be saying, in admiration of his guts and his articulate defense of America.

Debating the A-list celebrities of the Left is one thing; offering a conservative message to mainstream America in a movie is another. The filmmaker had better 1) understand America; and 2) be not just pro-American but an artist—or else he turns into a Rightwing version of other entertaining but tendentious filmmakers like, say, Michael Moore.

D’Souza’s new documentary America: Imagine a World Without Her has apparently out-earned Moore’s Capitalism at the box office.

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Les Maladies and Le Monde

When I was a student, my friends and I would stay up all night to discuss such questions as the truth or otherwise of determinism. Was the entire future of the universe immanent in its past, indeed had everything been determined from the very foundation of the universe (if it had one)? If so, what of our supposed freedom?

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PovertyCure: From Aid to Enterprise

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Can the current model of humanitarian aid generated by networks of large philanthropic foundations, NGOs, and Western governments actually alleviate the poverty of the world's Bottom Billion, to quote the title of Paul Collier's book? This podcast with the Acton Institute's Michael Miller, director of the new Poverty Cure Initiative, puts forward a persuasive case rooted in particular communities in Africa and South America that the conditions for prosperity emerge from our free and relational nature as human beings. Accordingly, authentic help to the world's poor must not be driven by the notion that the global poor are the objects…

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Capitalism’s Enigma and Its Future

It is impossible to exaggerate the enigma within the term “capitalism.” It is in fact one of those big concepts concocted by its enemies, indeed by its chief antagonist Karl Marx. To this very day its central concepts of market and “trickle down” are questioned from the American president to the pope. Even its supporters cannot agree on what it is or even when it began.

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Peter Berger

Richard Reinsch recommends this review of Peter Berger's intellectual autobiography, which I also recommend.  Berger is an interesting thinker.  One bit from the review illustrates one of the major vices of intellectual endeavor -- confirmation bias -- which is clearly part of the problem that prevents the progress that the Enlightenment envisioned from occurring: One of [Berger's] female friends was very supportive of the Soviet Union during the Cold War. He decided to introduce her to a Latvian couple capable of describing the persecution they had endured at the hands of Communist enforcers. After a certain point in the conversation, the…

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