Home
/
RELIGION & LIBERTY ONLINE
/
5 Reasons Millennials Should Support ‘Capitalism’
5 Reasons Millennials Should Support ‘Capitalism’
Mar 30, 2026 10:40 AM

A recent national survey by the Harvard Institute of Politics finds that a majority of Millennials (18- to 29-year olds) do not support capitalism as a political theory. One-third of them, however, do support socialism.

As a rule, I try not to put too much stock in such surveys because opinion polls make us dumb. But it’s e obvious that a significant portion of younger American are truly so under-educated that they truly believe socialism is preferable to capitalism.

Perhaps the problem is merely one of language. The reality is that the most ardent “capitalists” don’t like “capitalism” either.

Capitalism is merely an economic system in which the modes and means of production are mostly or entirely privately owned. That’s a rather broad categorization that includes such systems as corporatism, crony capitalism, social democracy, state capitalism, and welfare capitalism. Even those of us who can be described as “capitalists” would reject most of the other forms of capitalism we don’t like. (Which is why we tend to dislike the unhelpful word “capitalism.”)

What many of us (I’m tempted to say true capitalists) prefer is not an amorphous capitalism, but an economic system that is outgrowth of the natural order of liberty: a free economy. There’s no agreed upon term for the system of a free economy (which is why capitalism is often used as a substitute) but it includes free people engaging in free enterprise in free markets. A free economy is not alaissez-faire, each-to-his-own system of consumerism. It’s a system in which people are allowed to use their resources and abilities most effectively to serve others.

My naïve hope is that if more Millennials understood that capitalism is mostly used as a derogatory term free enterprise and economic liberty, they’d realize that they really do support it after all. But in case they aren’t convinced here are five reasons why you, young Millennialreader, should support capitalism:

1. Capitalism makes the world cleaner, less violent, and less poor (yes, really)—Because of capitalism there are fewer wars, fewer deaths from pollution, and fewer people living in extreme poverty than ever before. While global peace, health, and prosperity may seem like trivial pared to your student loans, they are a reason most of us are grateful for the benefits of capitalism.

2. Capitalism is the reason you’re (probably) not a farmer –Do you currently have Tama soil under your fingernails? Do you not even know what Tama soil is? You probably don’t, which means you aren’t a farmer. Statistically, that is a safe assumption since there are only about 10,000 Millennials who are principal operators on a farm in the U.S.

Today, Millenials are farmers because they want to be. But that wasn’t always the case. In Colonial America approximately 90 percent of the population earned at least part of their living as farmers. Even in 1900, 41 percent of the U.S. workforce was employed in agriculture. People didn’t have a choice — farming was a required vocation.

So what changed? Mostly technological progress brought about by free enterprise. The gains from specialization and trade (key aspects of free enterprise) made it possible for you to be a Wendell Berry-reading “agrarian” at grad school rather than standing in an Iowa cornfield pushing a plow through Tama.

And that’s one of the truly remarkable effects of capitalism: it makes it possible for more and more people to pursue their interests, passions, and talents and use them in diverse ways to serve their fellow humans.

3.Capitalism is the main reason you weren’t drafted into the army —Thanks to the Obama administration, women will soon be joining men in being eligible for the “draft” — monly used term for mandatory military conscription.

But don’t worry, there’s not need for you to run off to Canada. No one in your generation has actually been subjected to the draft, and you likely never will. For our current all-volunteer military you canthank free market economists like Milton Friedman.

At the height of the Vietnam War, mander Gen. William Westmoreland testified before the President’s Commission on an All-Volunteer Force, mission that was exploring the feasibility of ending the military draft. AsNewsdayreported,

Staunchly opposed to an all-volunteer military, which must pay its soldiers market wages, Gen. Westmoreland proclaimed that he did not want mand “an army of mercenaries.” One of mission members immediately shot back with a question: “General, would you mand an army of slaves?

mission member was Milton Friedman. Friedman based his arguments primarily on the need for freedom in human flourishing. But he also noted itseffects on the lower classes:

A by-product of freedom to serve would be avoidance of the present arbitrary discrimination among different groups. A large faction of the poor are rejected on physical or mental grounds. The relatively well-to-do used to be in an especially good position to take advantage of the possibilities of deferment offered by continuing their schooling. Hence the draft bears disproportionately on the upper lower classes and the lower middle classes. The fraction of high-school graduates who serve is vastly higher than of either those who have gone to college or those who dropped out before finishing high school.

If you served in the military because you wanted to, not because you were forced by the government, then you have a reason to be grateful for capitalism. And if you didn’t serve you have an even greaterreason to be thankful for free enterprise.

4. Free enterprise is the most moral economic system — Free enterprise is the most moral, most fair, and most helpful system for alleviating poverty. Even a cursory study of history will show this is both obvious and true. The free enterprise system, though not without it’s significant flaws, is the most moral economic system yet devised. In the video below, Arthur Brooks explains three reasons why a free economyis the most moral:

1) Free enterprise safeguards lasting happiness.

2) It promotes real fairness.

3) It does the most good for the most vulnerable.

5. You already prefer capitalism anyway —Quick: Name your favorite provider of a good or service?

Chances are that you said Apple or Uber rather than the DMV or the Department of Commerce. While the government may provide some necessary services, it isn’t the best at providing customer service or fulfilling the various and unique wants and desires of Millennials. Imagine standing in line for hours, like they used to doin the anti-capitalist Soviet Union, to get stale bread and sandpaper-rough toilet paper. That’s what happens when you reject capitalism.

But let’s be honest. You don’t really reject capitalism. You just want more redistribution. You love capitalism when it is providing you with iPhones, Beyoncé videos, and fair trade coffee. What you don’t love is that you can’t have everything you want while you’re in college, working a free internship, or having to put in the work to move up the corporate foodchain. You want the benefits of capitalism; you just want someone else to pay for it.

That’s natural. It’s wrong and evil, but it is definitely natural. It’s a naturally occurring phenomenon of adolescent immaturity to want other people to take care of you and provide for your material wants and needs. You want more than you can have so you want other people to pay for it. That’s a form of immaturity that some people (e.g., politicians) never outgrow.

But you likely will grow up. You’ll realize that there aren’t enough “rich” people from which to redistribute e. You’ll realize that making the world a better place economically mostly entails you being productive at work, contributing to the flourishing of your fellow man by your labor. You’llrealizethat, no matter where you fall on the economic spectrum, you are part of the most materially blessed generation in the history of the universe and that you are much, much, much better off because of free enterprise.

You’ll realize that, and you’ll grow up. Or you won’t. And then we’ll all be in trouble.

Comments
Welcome to mreligion comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
RELIGION & LIBERTY ONLINE
Want to Lower Poverty Rates? Increase Entrepreneurship
The Goldwater Institute has released a new study showing that states with a larger share of entrepreneurs do a better job at reducing poverty than states with fewer entrepreneurs. There is a strong connection between a state’s rate of entrepreneurship and declines in poverty. Statistical analysis of all 50 states indicates that states with a larger share of entrepreneurs had bigger declines in poverty. In paring states during the last economic boom—from 2001 to 2007—data show that for every 1...
Registration Now Open for 2013 AU
The Acton Institute is pleased to announce that registration is now open for the2013 Acton University(AU), which will take place onJune 18-21 in Grand Rapids, Michigan. Space and scholarship funds are limited – soregister or apply now! Please visituniversity.acton.orgwhere you will find the online registration form along plete conference information. ...
Is the Bail System Inherently Unjust?
Prepping for the joint Acton/Liberty Fund sponsored conference that begins tonight: Religion & Liberty: Acton and Tocqueville, part of Acton’s Liberty and Markets program, I came across the following thought-provoking quote from Alexis de Tocqueville: The civil and criminal legislation of the Americans knows only two means of action: prison or bail. The first action in proceedings consists of obtaining bail from the defendant or, if he refuses, of having him incarcerated; afterwards the validity of the evidence or the...
Why Can’t We Fire Bad Teachers?
Timothy Dalrymple wonders whether education reform should be one of the great objectives for American Christians in the twenty-first century. Taking up that cause will require ing theintransigenceof the teachers’ unions: Try firing an ineffective teacher. Roughly 1 in 50 doctors lose their medical license. Only 1 in 2500 teachers ever lose their teaching credentials. Process that for a moment. It’s much easier to e a teacher than a doctor, yet teachers arefifty times less likelythan doctors to be removed...
Acton Commentary: The LBJ Curse on the Black Vote
Because it is right, because it is wise, and because, for the first time in our history, it is possible to conquer poverty … Lyndon B. Johnson’s Special Message to Congress, March 16, 1964 Anthony menting on the preference black voters showed for President Obama, points out that Lyndon Baines Johnson’s War on Poverty policies “introduced perverse incentives against saving money, starting businesses, getting married, and they discouraged fathers from being physically and emotionally present for their children — resulting...
Radio Free Acton: New Book from Rev. Sirico and Jeff Sandefer
Rev. Robert Sirico, President of the Acton Institute and Jeff Sandefer, entrepreneur, teacher and educational innovator, have co-authored the new book, “The Field Guide to the Hero’s Journey: inspirational classics and practical advice from a serial entrepreneur and an entrepreneurial priest”. The book is set to be released in early December. Rev. Sirico and Mr. Sandefer sat down to discuss their collaboration. [audio: ...
Bringing Spirituality to ‘One of the Sleaziest Industries in the World’
Over at Christianity Today, HOPE International’s Chris Horst, whose article on a Christian manufacturer was recently highlighted at the PowerBlog, focuses on yetanother Christian business, this time dealing in mattresses: “This is one of the sleaziest industries in the world,” says business owner Ethan Rietema. “Customers are treated so poorly. Stores beat you up, trying to get as much money as they can, but they couldn’t care less if you get the right bed.” Rietema and Steve Van Diest, both...
Acton Institute responds to National Catholic Reporter article on bishops’ economic statement
Here is ment posted this this morning on the National Catholic Reporter article titled, “Statement on economy denounced by archbishop fails to pass.” Full statement follows: An important clarification. Archbishop Fiorenza’s assertion that the Acton Institute views Rerum Novarum as “no longer applicable today” is incorrect. The archbishop is most likely basing this claim on a June 2012 America Magazine blog post by Vincent Miller titled, “Sirico Completely Wrong on Church’s Social Teaching.” See link. In the post, Miller cites...
The Contending Realities of Progressive Economics
We need to trim government programs today in order make way for bigger government tomorrow. That seems to be the message former treasury secretary and Obama economic advisor Larry Summers delivered today at the Washington Ideas Forum: “If we want to have the same kind of society we always had…you may see some upward drift in government,” he said. “That’s why you need to work ever harder to eliminate government activities that don’t need to take place.” Summers deserves credit...
Is the Fiscal ‘Cliff’ Just a Bump in the Road?
Over at Think Christian I take a look at the looming fiscal “cliff,” which we are being told from every conceivable quarter represents a significant danger to America’s fragile economic recovery: But apart from the numbers themselves, the framing of the issue by politicians and pundits ought to give us pause. The idea that returning deficit spending to 2008 levels represents a “cliff” is not just political hyperbole. It reveals something deeply broken about not only our political system, but...
Related Classification
Copyright 2023-2026 - www.mreligion.com All Rights Reserved