Considering the current sympathy for Marxism disguised as “democratic socialism,” it has become necessary to revisit some basic facts, one of which is that capitalism is the most compassionate form of economy known to man and, as such, must be fiercely defended.
To begin with, it must be noted that the socialist experiment was tried upon our shores at the very start of the Pilgrim colony, to the peril of such. At least half their number was decimated in the first winter. Why? Their God-given right to the fruits of their labor was ignored, and, inevitably, very little was produced. William Bradford recognized the errors of this governance and plotted out land for each man wherein each would be the owner of what he earned. The colony immediately began to prosper. (READ MORE: The Pilgrims Were the First Socialists)
Adam Smith, in his voluminous 1776 tome The Wealth of Nations, hit the proverbial nail on the head when he speaks of the baker, who, through no altruistic motivation, nonetheless serves the people around him. The self-interested baker is providing bread to others who had not the time to make it, and he is contributing to the economy with jobs, opportunities, lease payments to a landlord, taxes, etc.
Another very important point to embrace is that wealth is not evil. Can it be, and has it been used thusly? Of course. But it has also created the most benevolent nation on earth when calamities befall others in the world.
Many people disdain America’s Gilded Age and the Industrial Revolution. They paint the titans of industry with the brush of greed and lament their abundant wealth. This view of history fails to recognize the exceptionalism of that time and the resulting greatness of this nation. I would posit that the Gilded Age is to be celebrated, as it is a fascinating illustration of what individuals did with the liberties secured by the Constitution. It was an expression of the American people, politically and economically free. Because individuals were able to pursue that which impassioned them and in which their aptitude lay, transformational inventions became a part of daily life. Because the Constitution secured their God-given rights to keep what they earned, achievement, hard work, and risk became very attractive. Due to the free-market economy and competition, there was incentive to make the most excellent products, serving well the needs and desires of the consumers. They worked, they risked, and they created fortunes! And that very wealth is what enables us to fulfill our Christian duty to those around the world.
The darker side of the Gilded Age is the disparity between the capitalists and the working class. But, as capitalism is based on consent, remember that the immigrants who worked and lived here came willingly for a life that was actually better than that from whence they came. Also, while many of the working-class toiled in abject poverty, there was at least one capitalist who met his liberty with commensurate virtue, and that was Henry Ford. Of his own volition, he gave the workers 8-hour days and good wages and even saw to their safety on the job. Soon thereafter, laws that recognized employee rights became effective. Only in the ripe soil of liberty could the seeds of reform have grown, giving birth to the middle class.
The brighter side of the Gilded Age is a cumulation of individuals achieving the American dream. To castigate the people who made such achievements and punish them by disparaging their show of opulence is un-American and ignores the value of ingenuity and hard work. The opportunities were present. If this were not so, then how did Carnegie, Rockefeller, and many others start with nothing and become wildly successful? Forget not also, that most of these titans of finance gave more than half of their fortunes to philanthropic causes.
One obstacle to our free-market system is our tax code and the IRS. Not only is the code cumbersome, but it is also punitive to those who elevate their status in life by taxing them in a higher tax bracket. This is precisely why we should have a 10 percent flat tax at least on regular wages. Furthermore, the IRS has proven a rogue bureaucracy that threatens free people. They have themselves become subservient via a lawsuit to the atheist group Freedom from Religion Foundation and through the Johnson amendment. In so doing, they have intimidated pastors across this land and put a chill on free speech from the pulpits. The IRS represents an egregious impediment to the American way and as such, it needs to be entirely defunded.
Wealth in the hands of many Americans has led to benevolence and charity. Capitalism is rooted in Christian principles, namely, that God has endowed each of us with different talents and aptitudes and in a free market environment, we are free to do that which God has placed within us. This causes society to flourish. Let us not be complacent when we see Marxist indoctrination enter the marketplace of ideas.