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Tuesday, July 31. 2012

Why are most of the rich American capitalists Liberals?

Charles Murray discusses: Why Capitalism Has an Image Problem. One quote:



The U.S. was created to foster human flourishing. The means to that end was the exercise of liberty in the pursuit of happiness. Capitalism is the economic expression of liberty. The pursuit of happiness, with happiness defined in the classic sense of justified and lasting satisfaction with life as a whole, depends on economic liberty every bit as much as it depends on other kinds of freedom.



Another:



... these capitalists of the left are concentrated where it counts most. The most visible entrepreneurs of the high-tech industry are predominantly liberal. So are most of the people who run the entertainment and news industries. Even leaders of the financial industry increasingly share the politics of George Soros. Whether measured by fundraising data or by the members of Congress elected from the ZIP Codes where they live, the elite centers with the most clout in the culture are filled with people who are embarrassed to identify themselves as capitalists, and it shows in the cultural effect of their work.


Posted by The Barrister in Our Essays, Politics at 13:52 | Comments (5) | Trackbacks (0)

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A lot of these folks who are rich lefties are rent seekers. George Soros did not make his money building anything. He was a speculator and made his fortune attacking the British pound.

http://en.wikipedia.org/wiki/Black_Wednesday

Many of the technology billionaires, like Allen and Gates, were interested in social issues and their business practices represent the aggressive capitalist practices of the late 19th century.

The Wall Street folks have ethics, like Jon Corzine, that resemble Krupp and Thyssen in the 1930s. We call them "crony capitalists" but there are other terms.
#1 Mike K (Link) on 2012-07-31 15:28 (Reply)
I appreciate this article but Thomas Edison was not a Capitalist.
He was entirely supported by grants.
#2 bgarrett on 2012-07-31 19:02 (Reply)
Edison's ENTIRE life story hinged on his first, personal, successful invention: the TICKER TAPE MACHINE.

Yeah, the one you see in all the movies.

Edison invented that -- per a request -- virtually in one dream.

IIRC, he sold out his patent rights to a Wall Street tycoon for a pretty penny -- only to find out that the tycoon would've paid him ten times as much and considered it a bargain.

The remainder of Edison's funding came from profits and private capitalists.

After screwing over, and lying to, just about everybody -- for ever and ever -- he was kicked out of control of his TA Edison General Electric Company. This last particular entity was stuffed with the patents that didn't find their way into his lighting company, his phonograph company, etc. etc.

He was so furious when he was turfed out ( he'd been caught lying and constructively stealing from his investors -- spending the money on yet other projects whose patents he was pledging elsewhere (!) -- ) that he demanded that his name be taken off the enterprise.

The board was delighted to meet his request: leaving the world with the General Electric Company.

Your gas bag assumption is piffle.
#2.1 blert on 2012-08-01 03:02 (Reply)
Wealthy people are liberals ---SO THAT THEY DON'T HAVE TO GIVE UP ANY OF THEIR LUXURIES.

It's a get-out-of-guilt-jail free card, existential justification.
#3 ahem on 2012-08-02 08:17 (Reply)
By the way, why is freedom going out of style? Because so-called 'capitalism' is nothing more than freedom. Why and how can the idea of freedom go out of style? Only if you're brainwashed into letting it go.
#4 ahem on 2012-08-02 08:20 (Reply)

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