Fox News’ ratings kingpin Bill O’Reilly sounds a repetitive theme, going back several years, in his nightly “Talking Points” memo when addressing Barack Obama’s economic views. Bill, in his earthy expression style designed to convey to “the folks” that he’s just looking out for them, points out that the President is not a guy who believes in capitalism or free market ideas. He contends that instead Obama is driven more by “social justice” type concerns. What invariably follows in Bill’s analysis, and is happening more frequently, is commentary on the struggling U.S. economy under the caped social-justice crusader’s watch.
Mr. O’Reilly is likely more right about the driving forces behind Barack Obama’s economic policy choices than even he realizes. That’s because not only does the President choose social justice over capitalism, he does so because he, like his collectivist minions, actually believes that the intellectual and behavioral underpinnings of capitalism are antithetical to notions of social justice within an economy.
What President Obama fails to understand is that capitalism is not only compatible with social justice, it is intrinsic to its attainment.
Turning Point USA, an organization dedicated to spreading the message of free markets to American high school and college youth and calling them to action, has recently published a pamphlet titled “Capitalism Cures” (available for free). Inspired by a speech delivered by U2 front man, Bono, in 2013 wherein he extolled the healing powers of free markets, the Turning Point message is that if you are concerned about social justice and fairness to all, then capitalism provides the best and only vehicle to use. Since Turning Point focuses its messaging to Millennials, let’s consider the following applicable example:
At College of the Ozarks, located in an idyllic setting looking out at Lake Taneycomo in Point Lookout, Missouri, incoming freshman are presented with an exciting opportunity. The college has a program known as Hard Work U in which students are charged no tuition in exchange for working at various jobs on campus. With average student debt upon graduation from a private university now over $33,000, this permits a student who honors their work requirement and meets necessary academic standards to graduate debt-free with a degree from an accredited four year program.