Author: Tyler Hogge

The Clear Case for Capitalism

At dinner not long ago my daughter and I had a standoff. She refused to eat something—a calzone in this case—because it looked “gross.” I failed to convince her what was actually in the calzone until finally I cut it in half and into a triangle so it looked just like pizza. Once she learned what was in it she loved it. I recalled this calzone a few weeks later when I got into a heated discussion with a friend. He is convinced that capitalism is the source of all of America’s problems. As the discussion progressed, it became clear to me that the source of our disagreement was definitional: we didn’t have an agreed-upon understanding of what capitalism is—or, in other words, what’s “in it.” Perhaps this kind of disagreement isn’t surprising given that only 22 states require high school students to take a class in economics to graduate, less than 50 percent of high school students have any exposure to economics, and only three percent of colleges require an economics class (!). So …