Staff Reports
Politicians often find themselves in a frenzy over businesses making money, as if profit is a four-letter word that needs to be erased from the dictionary. The outrage is palpable, especially coming from the likes of Bernie Sanders, who preaches about “greed” while failing to grasp that a healthy economy thrives on self-interest. It’s comical how some Republicans join the bandwagon, often stretching their understanding of economics to fit their narrative. Case in point: Florida’s Attorney General Pam Bondi, who expressed outrage over businesses raising prices during a crisis, labeling it as “sickening.” Instead of seeing it as a fair response to market dynamics, she painted a picture of vilification – hardly understanding that in a free market, prices signal both supply and demand.
Senator Josh Hawley seems to have missed the memo as well, taking potshots at airline CEOs for charging different people different prices. His baffling statement that capitalists are simply after profits is no revelation. That’s the point! CEOs exist to manage their companies in a way that maximizes profits for their shareholders. Contrary to the rhetoric from these politicians, business leaders are not the villains in this economic narrative, but rather the heroes who drive innovation, create jobs, and ultimately improve the standard of living for everyone.
In a piece for Nature Medicine, Prof Ntobeko Ntusi argues that US foreign policy has always been linked to the idea of superiority & self-interest.
Viewing the crisis as a chance to rethink global health and address power imbalances.
More on this: https://t.co/LsukhKUHwE
— SAMRC (@MRCza) February 12, 2025
Ayn Rand, whose philosophy of objectivism raises eyebrows in intellectual circles, was spot on in recognizing that pursuing one’s self-interest does not equate to villainy; it’s the very foundation of capitalism. The left, however, prefers to demonize her ideas in favor of socialism, which is disturbingly viewed by many as a moral high ground. The irony is rich when one considers how entrepreneurial ventures have made everyday comforts—like phones or working refrigerators—possible through the very “greed” that politicians love to loathe.
The failures of government-funded initiatives often serve as a stark contrast to the efficiencies of the private sector. Take California’s high-speed rail project, for instance, which dragged on for over 17 years with no trains in sight, despite billions in taxpayer dollars. Meanwhile, a private company named Brightline swooped in and established a successful train service from Miami to Orlando in just three years at no cost to taxpayers. This reality checks the notion that government is best equipped to handle critical infrastructure projects.
Then there’s the debate around prices and competition. As prices for technology have plummeted over the decades, one must ask why greedy capitalists are lowering costs. The answer, quite simply, is competition. In a capitalist system, businesses are not insulated from their rivals; they must continuously innovate and enhance their offerings or risk going under. This competition benefits consumers and leads to more choices and lower prices, while government efforts often lead to higher taxes and stagnation.
Moreover, looking at the social dynamics, even in cases of historical injustice like Jim Crow, the inevitable profit motive pushed some businesses to defy discriminatory laws. Aquí, the entrepreneurial spirit found a path to challenge the status quo—not through government regulation, but through the market’s inherent desire for inclusivity and profit. This reflects a complicated yet remarkable truth about capitalism: its ability to drive societal progress while benefiting all layers of society, including those who once faced systemic poverty.
In summary, the hands that create wealth through self-interest are often the same hands that aid in lifting the less fortunate. Capitalism, with its imperfections, remains a powerful engine for progress. Those who understand this vital connection between self-interest and societal advancement are better positioned to appreciate the contributions of entrepreneurs, rather than denounce them as villains.
