Although capitalism has been around for a few hundred years, apparently there has been a massive secret at the center of the economic philosophy that has remained hidden for far too long.
Fortunately, Rep. Alexandria Ocasio-Cortez (D-NY), who graduated with a degree in economics from Boston University, has somehow unlocked the “secret” of capitalism.
So, without further ado, I bring to you the long-held secret of capitalism, according to AOC.
As AOC recently told her 8.5-million strong army of Instagram followers, “Let me tell you a secret: Most people don’t really know what capitalism is. Most people don’t even know what socialism is. But most people are not capitalists, because they don’t have capitalist money. They’re not billionaires.”
So, after all these years, we now know that be a “capitalist” you must have “capitalist money,” which only billionaires somehow have access to.
Of course, that is a totally inaccurate, juvenile assessment of capitalism.
In its most basic form, according to Investopedia, capitalism is more accurately described as, “an economic system in which private individuals or businesses own capital goods. The production of goods and services is based on supply and demand in the general market—known as a market economy—rather than through central planning—known as a planned economy or command economy.”
In other words, capitalists, including everyone from teenaged owners of a neighborhood lemonade stand to Amazon’s Jeff Bezos, simply supply goods and services based on the principles of supply and demand. There is no monetary threshold at which someone becomes a capitalist because they have special access to capitalist money. Moreover, not all billionaires are capitalists. And vice-versa.
Sadly, the 8.5 million followers of AOC’s Instagram account probably bought her inane assessment of capitalism on its face. After all, it probably falls right in line with the anti-capitalist, pro-socialism nonsense they have been inundated with after years in America’s failing public education system.
No wonder so many Americans, but young Americans in particular, hold capitalism in contempt while they openly embrace socialism.
Chris Talgo ([email protected]) is the editorial director and a research fellow at The Heartland Institute, as well as a researcher and contributing editor at StoppingSocialism.com.
