I recently came across this article that proclaimed our generation to be the most capitalist in American history, in spite of the fact that most millennials view socialism “favorably,” according to a survey cited by the article. The article asserted, furthermore, that this disconnect stems from a lack of understanding by millennials about what capitalism and socialism truly are—because, obviously, we’re all a bunch of idiots who just don’t know better. Right.
I would argue the opposite; we know exactly what capitalism and socialism truly are, more so than any other generation in history. And, yes, because of the economy’s nature right now, because of the fact that most of us are dealing with crippling debt, low wages, high unemployment and so forth, we are a very capitalist generation in how we stay alive—but when millennials say they want socialism, it’s a genuine and well-reasoned desire.
I’d even go farther and assert that other generations lack an understanding of what we mean when we say socialism. In America especially, most people think of socialism as being a monolithic, totalitarian ideology synonymous with full Stalinism. (The funniest/most offensive thing was when people were equating Bernie Sanders with Nazism because democratic socialism and national socialism had one word in common, so they’re identical, right?) The vast majority of millennials favor democratic socialism, the type seen in countries like Norway and France. In these countries, there is a free-market economy in place, but the government ensures that corporate abuses are kept low, wages aren’t kept stagnant, and basic necessities like education and healthcare are provided to all—a far cry from the Soviet Union. Funnily enough, unlike the USSR, social democracies have a tendency to survive and keep going strong.
And the free market? Of course, we love it. I’m not oblivious to the fact that, without the free market, I’d be scribbling this article out on a napkin. With the rise of Apple, Amazon, Pinterest, et cetera, it seems all too ironic that millennials cry out for socialism the loudest. But what we really hate is the fact that the markets seem stacked against us. The current economic system is a system that condones, if not encourages, companies hiking prices for life-saving medicines while their CEOs make millions of dollars. The current system condones the vast majority of wealth being concentrated in the hands of elites who don’t contribute to society, in the hands of their families. The current system’s abuses could themselves fill an article; are we supposed to support it? Capitalists say that it’s not real capitalism, but then why argue with us about it instead of fighting to implement their miraculous version of capitalism?
When millennials cry out for socialism, we aren’t asking for Stalinism. We do appreciate the free market, and the free market does have a place. What we want is opportunity, something that the current system has been all-too reluctant to give us. We don’t want wages that are so low, they’re impossible to live on, especially when we’re paying back massive loans. We may be the most capitalist generation ever with how we interact with the market, but we’re sick of the current suffocating setup—and that’s why so many of us are socialists.
