The means of production are privately owned and the goal of these means of production is profit maximization. That’s capitalism. It’s a simple concept – one whose reputation has been sullied by ahistorical narratives, such as Howard Zinn’s “A Peoples’ History of the United States” and The New York Times’ “1619 Project,” the demonization by Democratic politicians, such as Elizabeth Warren, Bernie Sanders and Alexandria Ocasio-Cortez and, most importantly, a profound misunderstanding of what capitalism is and what it is not.
The implementation of capitalism and free markets wasn’t just a matter of materialistic vanity. People actually felt happier. They felt a more holistic sense of well-being. Economic prosperity allowed more people access to a greater number of vocational options in life. Children weren’t dying as often. People were living longer and the quality of life was improving. Capitalism isn’t just about material prosperity. It’s about economic freedom.