Capitalism and Socialism: Two Obsolete Ideologies

Capitalism and socialism were the two ideologies of the early industrial revolution. Their supporters argued about which could modernize the economy and create new wealth more rapidly, and which could use the newly created wealth to benefit the most people.

Today, everyone agrees that capitalism has won this argument, but most people do not realize that this argument has become obsolete in the developed countries.

In the developed countries, most people already have all that they need to keep them comfortable – and more. In the United States, we have more cars than licensed drivers. But this symbol of prosperity is so common and so widely used that we have moved beyond the point where it make us happy to the point where blights our cities and leaves us stuck in traffic jams.

American progressives still stick to their old politics, trying to distribute more wealth to underprivileged minorities – but minorities do not win elections.

They would do better if they realized that their old politics is obsolete. In a surplus economy, we need a politics that allows people to downshift and live more simply. That would help the majority of Americans live better lives, and it could win elections.