June 27, 2019

The Moral Virtues of Capitalism

““There’s a lot of people more concerned about being precisely, factually, and semantically correct than about being morally right,” Rep. Alexandria Ocasio-Cortez replied when confronted with some of her most factually-challenged remarks. It’s heartening to see the discomfort produced by her effort to excuse well-meaning deception, but it’s a little concerning that Ocasio-Cortez’s idea of what constitutes morality has not received similar scrutiny.

“We only have empty pockets when it comes to the morally right things to do,” the congresswoman said in August, citing “100 percent renewable energy that is going to save this planet” as one of several moral imperatives. Merits aside, the morality of that objective is debatable. What is not debatable is the way Ocasio-Cortez and her allies hope to achieve it: by subverting the marketplace, which is one of the most morally sound mechanisms humanity has ever devised.

A draft resolution before Congress advocating Ocasio-Cortez’s “Green New Deal” devotes an entire section to explaining why “incentivizing the private sector” to mitigate the threat posed by climate change “doesn’t work.” That is a sentiment likely shared by environmental catastrophists who believe that the only way to mitigate the threat posed by climate change is to “systematically dismantle capitalism.” In fact, the market is arguably the more effective vehicle for addressing their core concerns.”

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