Rule Five Fundamental Misunderstandings Friday

This guy has a serious, fundamental misunderstanding of what capitalism is.  Excerpts, with my comments, follows:

But the fact is, capitalism moves and energizes the modern world.

Sort of.  Unfettered, laissez-faire capitalism is not actually practiced anywhere in the modern world.  What we do have is a combination of cronyism and mercantilism.

And what capitalism values, our world does more of; what it doesn’t, we do less of.

Yes, this is true.  And that’s precisely how it should be.

Many of us feel like the activities of a normal life are becoming harder and harder to accomplish.

So, how many is many?  That’s a content-free assertion.  “Many” is very relative.  Three can be “many.”  I wouldn’t want to have three people standing on my tongue.  That would be too many.

So the question becomes: In a system where capitalism is a prime determinant of value, how can we preserve what we truly value as humans, what matters to us beyond money?

With free trade and free markets, obviously – in other words, capitalism.  And, as I’ve said before and will say again, there really is no “-ism” in laissez-faire capitalism; there is no underlying ideology other than liberty.  An honest free-market system consists of nothing more than free people deciding, freely, for themselves what to do with their money, their talents, skills and resources.

Here’s where the author, one Andrew Yang, goes off the rails, in defining his “reformed” capitalism:

Human capitalism would have a few core tenets:
1. Humanity is more important than money.

Again, a content-free statement.  That means precisely nothing; you can’t quantify it or even define it.

2. The unit of an economy is each person, not each dollar.

See above.

3. Markets exist to serve our common goals and values.

This is real dinger.  Yang seems to be of the stripe that “people should be free to make choices, as long as the choices are ones I approve of.”

There are no common goals or values.  Only individuals have goals and values, and those may vary widely.  You can’t define common goals or values and assign them without the iron hand of government telling people what to do.  Quis custodiet ipsos custodes applies here; there is no way to have markets “serve our common goals and values” without someone in power deciding what those common goals and values are, and imposing those goals and values on the population as a whole.

There’s only one answer to such a suggestion:  Fuck off, slaver.