The Tug-of-War over Capitalism
By Arnold Kling
From my latest essay.
Those of us on the pro-capitalist (P) side tend to approve of the price system, because we think it helps send signals. Those on the anti-capitalist (A) side see prices as corrupt. For example, when the price of gasoline goes up, P’s say that this tells people to consume less and to produce more. A’s see gouging. Where P’s address the problem of pollution with taxes, A’s want to regulate and punish polluters. Where P’s see no problem with using a market for organ transplants, A’s would view such a market as inhumane.
The essay lists other views that tend to “clump” together on the P and A side.