Contempt for Capitalism. How A Lack of Understanding Sparked Hatred
A new theme I’ve seen gain popularity among the youth, both in America and in Europe, is a spurning of capitalism that stems from the notion that successful people owning rare or high-priced goods is evil. This is the idea that a select few should not have possessions that the masses don’t also have access to. This is a prime example of how limited the people are in their knowledge of how wealth is created and how that process is beneficial to all.
What anti-capitalists don’t understand about the advancement and progress of technology, industry and markets is that overtime what once seemed unattainable and luxurious eventually becomes the norm and even sub-par. This process is how
People are so blinded by their present-day greed or envy or even disgust that they don’t realize that someday, in the future, what you have a demand for, yet see as unattainable today will eventually become a common good or even an obsolete good.
It’s these volunteer ‘beta testers”, if you will, who put up their own money to buy high-priced yet typically unrefined goods that pave the way and open up markets for more competition, more supply and more efficiency in production (costs, time and price).
Let’s look at some examples:
Automobiles: Only the rich had cars. Then, because the rich actually spent money and smart people entered the industry, cars became affordable and the masses could have cars. We’ve become so accustomed and spoiled by this becoming the norm that some people are embarrassed of their lower-quality cars. 50 years ago, you’d drive around in a beat up Carola like you were a Rockefeller.
Let’s look at something even simpler than a car.
Running hot water: Today, almost everyone in America has running hot water and we’re getting tot he point that almost everyone on the planet has the same. Sure, in other parts of the world, it’s more rare, but let’s focus on America. 100 to 200 years ago, you’d shower once a week, if lucky, in reused, lukewarm water. Today, we take daily is not multiple showers a day.
Thanks to progress, these things have become the norm, yet we don’t appreciate it. And some people, the anti-capitalist crowd, are to stupid to even realize to be taught.
Look at every industry. Look how Airbags and ABS went from only a Mercedes feature, most couldn’t afford. Today, the worst car has 6 airbags and giant breaks. Look at medical advancements. A 100 years ago, the common cold would kill you. But with the advancement and investment by those vilified rich, those that could afford the emergent, cutting edge treatment, today we have tech available for people how have no money that would seem like science fiction for our great grandparents.
Accumulation of funds and the investment of those funds bring about progress. When people who have brilliant ideas and need the resources and the funding to develop them, that’s what advances humanity. That’s what brings progress. Without the ability of market interaction and voluntary investment, everyone would hoard their ideas and their resources and we’d never accumulate short-lived pools of ideas and funding to ever create new wealth for all to benefit from.
Appreciate what you have and understand that overtime, progress touches us all and we all benefit. Don’t hate those that benefit now due to their ability to afford it for themselves. Their high-priced investment today will help bring that product to the masses for cheap in the future, improving the daily lives of all of society’s members and paving the way for demand of newer and better technology. It’s a beautiful cycle that continues to grow and continues to give to all so long as we all appreciate it’s overall impact.
*This was a comment I had posted on another post, but I liked it too much to let it be lost as an obscure comment, so I made it a post.