Tuesday, September 1, 2026

I Know Why Everybody Hates Capitalism

By Kevin D. Williamson

Monday, August 31, 2026

 

I went to fetch the mail on Friday and saw one of those envelopes, never welcome, featuring the distinctive typography of forms from the Internal Revenue Service. Many of you will guess, immediately, that this was not a note from the IRS but one of those scammy financial things where they send you something that looks like a check but the “check” is the plastic worm on the hook of an unsolicited loan application. I get a few of those every month, along with misleading stuff from people who want to sell me an automotive service agreement, which is packaged as though it were something from the manufacturer about the factory warranty on my car. I get so many automated scam calls—about one an hour, mostly from phony financial firms telling me that my $65,000 (or whatever) line of credit is ready—that my telephone is more or less useless in any traditional role as a telephone, in much the same way that the mailbox has become nearly useless as anything other than a way station between the junk-mailers’ conveyor belts and my trash can. Scam texts purportedly from my bank and credit card companies, very scammy emails from phony political groups that exist only to fleece doddering angry old people, etc.: The sheer volume of scammery and fraud in anno Domini 2026 is astounding.

 

Americans are now subjected to billions of automated calls a year, many of them scams and scam-adjacent, and the number is growing, up by about 16 percent this year, according to industry sources, though it seems like a good deal more than that to me. It is difficult to imagine that this stuff really works, but I suppose it must—it does not cost very much for scammers to make an automated phone call, and the average loss from scams of this sort is estimated to be a few thousand bucks. Some of you will know (or will have heard of) a man whose Saturday night consists of going out to a bar and straightforwardly sexually propositioning every woman who catches his eye—no “Can I buy you a drink?” or anything like that, just the ask, unvarnished, however many times is necessary each night, until getting a “Yes.” It does not cost anything to ask and, if you are psychically equipped for that sort of thing, it is not the worst courtship strategy ever invented. Ask 10 million octogenarians to text you their banking information, and you’ll probably get a few positive responses. It is a volume game.

 

I have written many versions of this sentence, and I’ll repeat myself here: Pretty much everybody in the rich world would be enthusiastically pro-capitalism if not for their experiences with a handful of firms concentrated in financial services and telecommunications: insurance companies (especially health), banks and credit card issuers, collections firms, streaming and (especially) cable services (there is a reason that fewer than 1 in 3 U.S households subscribes to cable today, down from a peak of 90 percent or so), mobile providers, things like that. The problem seems to be nearly exclusive to providers of intangibles, whereas providers of physical goods have a relatively good reputation. However overpriced their goods may seem, nobody hates Gucci or Cartier the way some people hate their banks or insurance companies—UnitedHealth’s profit margins run around 3 percent vs. 22 percent for luxury-goods giant LVMH, but you will not win any votes calling for the nationalization of Louis Vuitton or Moët & Chandon. It is true that luxury goods occupy a special cultural position, but you could make much the same case about Adidas or Dell or Black & Decker.

 

We live in a society that is far more egalitarian in theory than in practice. Airlines are another industry that people hate—and nobody hates them with the Wolf-Rayet heat with which I hate them—but I will say in defense of the airlines that they are at least honest about the one thing Americans find it very difficult to speak honestly about: status. Sure, congrats, you got that round-trip ticket for $129, now take your boarding-group nine ass to the back of the bus with the rest of the proles. Airlines (and airports and the associated enterprises) are run by a particularly vicious bunch of clowns, to be sure, but airlines also are an example of a case in which the great majority of the fault lies with consumers rather than with dopey corporate managers or rapacious shareholders. Most Americans do not take a flight at all in any given year and, of those who do fly, most take only one or two flights a year. But there are a lot of those seldom-fliers, which is why frequent fliers make up only 12 percent or so of the total population of passengers. Seldom-fliers pretty reliably just go online and pick whatever the cheapest option for getting from Cleveland to grandma’s house in Toad Suck, Arkansas, happens to be on a given day, i.e., they discriminate based on price and basically nothing else. So airlines have to compete on price and basically nothing else, at least where these yahoos are concerned. Hence the treatment of economy-class fliers, which increasingly resembles the treatment of factory-farmed livestock, except instead of being force-fed some kind of hormone-laced soy-based swill of the kind that pigs get, fliers are force-fed credit-card solicitations, including that “limited-time offer” from American Airlines that has been going on for, what, 18 years now?

 

That said, airlines still offer a lot of what it is that people hate about capitalism, or what they imagine they mean when they use the word capitalism. For example, airline travelers generally do not have a whole lot of choice when it comes to choosing a carrier, especially if they do not live near a major hub airport. They feel as though they do not have much power when it comes to bargaining over prices, which is true at the individual level but wildly untrue when it comes to economy fliers as a class, who, as noted above, basically set the fundamental terms of service. When there is a delay or a cancellation, passengers feel they have little or no say in how that situation is handled and little or no recourse when it comes to costs that may be imposed on them through incompetence or negligence of the airlines. If the airline does anything to make it up to passengers, it generally does so on its own terms and at its own discretion. When the airline says, “We’re not going to fly you to Tampa, after all,” or “We’re going to fly you to Tampa, but you’ll get in four hours later than planned,” fliers basically have to take it. But if you tell the airlines, “Okay, but I’m going to pay you $200 instead of $300,” you’ll get treated like a crazy person. Your bank doesn’t pay you a $90 service charge every time it is late with something or gets something wrong, but it sure as hell expects you to pay that if you make a mistake—and it has the means to ruin your credit if you fight it, imposing real costs far in excess of that service charge.

 

These are economic losses, to be sure, but they also are matters of dignity, and that, I think, may be more important in the long run. Part of that is the bigness of modern life in a global economy: If you feel that an airline or a hotel or a bank is treating you as insignificant, that probably is because you are, as a mathematical matter, insignificant, at least as an individual customer. And to be treated as insignificant—to have one’s relative lack of power (and status) rubbed in one’s face—is necessarily an assault on one’s dignity.

 

Firms that can figure out a way to treat their customers as significant earn for themselves a great deal of goodwill: American Express, for example, typically does a good job of that with its platinum cards. (Presumably the rarely seen Centurion card, or “black card,” is even better.) I have heard AmEx platinum customers suggest to customer-service representatives that the firm should raise its annual fee in order to thin out the population in the Centurion airport lounge at DFW or Vegas. You will not find many businesses with customers arguing for higher prices.

 

The power disparity in economic relations is at the heart of most complaints about capitalism, which in the greater scheme of things are less often economic in character than social and moral in character. The deck-stacking is obvious and, if it is not necessarily a scam in the same sense those automated calls are a scam, it is no more honest: Everybody knows that customers are not going to read 20 pages of lawyerly prose before checking that box that says one has agreed to the terms of service. It is one of those things we just go along with because we feel that we do not have a real option to do otherwise.

 

At-will employment is another. Most employees are in at-will positions and, even though firms need good people to succeed, the fact that an employee can terminate employment as easily as an employer does not really mean that there is some kind of equality at play: Sure, a business that is down a good person may experience some trouble, but losing one’s job can be a real trauma, especially when it comes as a surprise. (Rather than, say, after an imbecilic smear campaign in the pages of the New York Times and elsewhere.) Some studies have suggested that a man who loses his job is more likely to lose his wife than if he is caught in an affair. There is more on the line than economic inconvenience.

 

When the sexual abuse scandals began to roil the Catholic Church all those years ago, a certain kind of secular liberal could be relied upon to tut-tut that this was an inevitable consequence of clerical celibacy and an all-male clergy, which were treated as being self-evidently barbarous relics from the dark ages. But, of course, similar sex abuse scandals have afflicted Protestant and Jewish religious congregations that do not impose celibacy on ministers, as well as public schools, private schools, summer camps, etc. Hollywood and the broader entertainment industry, where chastity famously is not the rule, produced a great number of sex abuse scandals. “Well, that’s what you get with the rich and powerful, who feel that they are beyond sanction.” Maybe, but there is the inconvenient fact that sexual abuse, particularly abuse of children, is absolutely rampant in the poorest places in these United States: on Indian reservations, in remote rural areas, in the poorest urban centers. Sexual abuse is something perpetrated by everyone from celibate Catholic clergy to Donald Trump to pretty blonde teachers who make their victims “pinky promise” to keep quiet. This ought to lead one to believe that the capacity for such monstrous behavior is part of the human condition rather than something particular to this or that religious practice or socioeconomic group.

 

Likewise, the abuses associated with what we call, for lack of a better term, capitalism. If you think that greed, self-service, incompetence, pettiness, opportunism, etc., would somehow be removed from the human character by abolishing capitalism—if you labor under the delusional belief that abolishing capitalism would even mitigate these—then I would suggest you read the collected works of Aleksandr Solzhenitsyn or Václav Havel. But while I am a defender of capitalism—a celebrant of capitalism and a practitioner of it—I do not want to let capitalism off that easy, either.

 

Like many econo-political concepts, capitalism is slippery to define. A colleague of mine used to say, “Capital is what happens when property rights are respected,” and there is something to that, and one can put together a very libertarian definition of capitalism that encompasses freedom of exchange and contract with sensible limits touching externalities, fraud, some kinds of unofficial coercion, etc. But there is more to American capitalism than free enterprise and free exchange. That was true before the nakedly fascist economic policies of the Trump administration were put into place, but the rise of Trump and Trumpism should, perhaps, occasion some reflection. The many excellent arguments offered by my anarcho-capitalist friends notwithstanding, capitalism as we know it happens in a complicated nest of rules, institutions, norms, laws, etc.—and it also happens in a culture, a factor that is perhaps given short shrift. When some obvious fraud, abuse, or Wile E. Coyote-level business scheme runs amok—Theranos, the worst of Enron, a good deal of the current business model of social media companies—we not only act surprised but are surprised. Think of the caliber of the people Theranos managed to hoodwink: former Secretaries of State George Shultz and Henry Kissinger, former Secretary of Defense James Mattis, William Perry (another former secretary of defense, not the Refrigerator, a man of an entirely different magnum caliber), former Wells Fargo CEO Richard Kovacevich, former Bechtel Chairman Riley Bechtel, etc.—all were board members. Sure, all of them hoped to make some money from getting in early on the next big thing, but there was more to it than that. Americans make heroes of entrepreneurs, and we are right to do so—but getting involved in starting a business does not liberate a man or woman from the ugly fallen facts of the human condition any more than becoming a priest or a teacher does.

 

Deng Xiaoping, that rotten old tyrant, was not wrong when he (apocryphally, alas) said, “It is glorious to get rich,” and it should be understood that he was not talking about individual fortunes so much as the fortune of his country, which had been poor and vulnerable and is now a good bit less poor and overcompensating for its former vulnerability by being an arrogant pain in the ass (and worse) all around the world. Deng even understood that for a country to get rich together necessitated a good deal of economic inequality, hence one of his actual maxims: “Let some people get rich first.” It is glorious that our country is so rich—and it is glorious that it is so much easier to get rich by creating some interesting new thing here in the United States than it is in, say, France or Switzerland, two lovely and perfectly civilized countries (rich, too, especially Switzerland) that simply do not have our culture of venture investing and entrepreneurship. But the same kind of openness to enterprise and cultural deference to business also makes it easier to start a multilevel-marketing scam in the United States or run a really crappy insurance company or a less-than-honest business ofone kind or another.

 

And if you think that the American business class is all rah-rah about free enterprise, think again: Adam Smith famously wrote that men of the same trade cannot get together without the conversation turning to a conspiracy to fix prices, but we go well beyond price fixing, using occupational licensure, financial regulations, and other instruments to create and entrench all sorts of chiseling middle-man grifts (real estate agents and the like) that simply add to the cost of getting ordinary things done. You can be a really good hair-braider—or a really good architect—but if you want to hang out your shingle and practice your trade, you have to pay somebody for permission. (Try organizing a private poker game in Vegas with real stakes on the table and see how fast you go to jail in the place where gambling supposedly is legal.) This stuff is supposedly done in the interest of public safety—you know, protecting us all from outlaw cosmetologists—but it ends up being a full-employment scheme for the lowest-performing members of any given profession, who inevitably end up working in the education-and-licensing end of their business, teaching test-prep courses and things like that, or simply collecting fees from would-be professionals who have no real option but to pay them. It is not quite a scam but not quite legit–and there is a great deal of American economic life that is like that: legal but grifty.

 

And so there is Mr. Average out there, feeling that he has somebody trying to pick his pocket 24 hours a day in ways that range from the merely disreputable to the outright criminal, who “owns” his house and his car but has somebody with his hand out monthly or annually to make him pay for the privilege of keeping his own property, who sees the heavy financial costs of inefficient and incompetence in enterprises ranging from air travel to medical billing pushed off onto him as an individual or as a business operator himself, who regularly deals with businesses with which he would never choose to have anything to do in the absence of a law compelling him to do so, etc. And maybe he blames capitalism, because that is the word he has for the things that make him feel like the most despised drone in the world’s richest beehive.

 

I am keenly aware that I write this as someone who is happy to occupy a modest place in the top income decile in these United States, someone who has opinions about premium charge-card services and airline lounges and such. I have been poor and I have been not poor, and being poor sucks—I remember that well enough to appreciate that what irritates and enrages me about the ugliness, pettiness, chiseling, indignity, and injustice of modern American life is experienced a hundredfold more intensely by people who are genuinely struggling economically in a way that I am not. And so when I hear people talking positively about socialism, I cringe and roll my eyes, because such talk is stupid and generally comes from people who don’t know what the hell they are talking about. Americans can be awfully ungrateful for all the material blessings we have, but those who complain about their bank charges or medical bills or airline experiences are not always and everywhere wrong to do so. They are wrong to think that the problem is free enterprise and free markets, of course, but that is not quite what they mean, I think, by capitalism.

 

There are a lot of cozy business-government relationships out there, a fair bit of feather-nesting, etc., and, consequently, a popular sense, by no means unreasonable, that some people and institutions are a good deal more insulated from the consequences of economic trouble and uncertainty than others are, and that this is not inevitable or natural or just.

 

Two Cheers for Capitalism, Irving Kristol advised in his famous book of that title. Two, two and a half, maybe two and three quarters.

 

Words About Words

 

In the above, I have tried to be careful about the use of the words celibacy and chastity. Celibacy, properly understood, does not refer to a state of sexual abstinence per se—it refers to the state of being unmarried or the state of having sworn off marriage, with the understanding that Christian morality requires sexual abstinence as a consequence of the unmarried state. Chastity, in the Christian moral vocabulary, does not refer exclusively to sexual abstinence, either, but to keeping sex in its place: Catholic doctrine speaks of chaste marriage, meaning one in which the dual unitive (we Catholics love our jargon) and procreative functions of sex are properly integrated into the marital relationship. Chastity may mean abstinence in one context and forbid practicing abstinence in another. Abstinence, of course, is the word for what often is meant by celibacy: abstaining.

 

And Another Thing

 

Of the Donald Trump apologists with prominent perches in the mainstream media, Marc Thiessen is surely among the most irritating—smart enough to know better but evidently unable to stop himself from publishing installment after installment of superficial turd-polishing that would put a real dent in the Washington Post’s reputation for publishing interesting and incisive commentary if it had one.   

 

Six months into Trump’s imbecilically conceived and incompetently executed goat rodeo in Iran, the leaks have started as various White House cretins desirous of having political careers in the post-Trump era do that mustelid sideways shuffle and sing a few choruses of Shaggy’s turn-of-the-century hit, “It Wasn’t Me.” But these leaks (“disloyal,” in Thiessen’s assessment) only prove that—can you guess?—Trump was right all along. The leaks, Thiessen insists, only succeed in “demonstrating what a courageous decision Trump made. Virtually alone, surrounded by naysayers, Trump acted to stop Iran from getting a nuclear weapon.”

 

Thiessen is playing Avengers games with the timeline: The attack on the Iranian nuclear facility happened in the summer of 2025, the leaks in question relate to the current campaign, which began in February of this year and was oriented toward regime change rather than merely making rubble of Tehran’s nuclear ambitions.  

 

But temporal coherence does not seem to be Thiessen’s thing. Trump, Thiessen argues, did what other leaders should have done and took the enemy at his word. Thiessen cites as examples Adolf Hitler’s infamous Mein Kampf and V.I. Lenin’s What Is To Be Done? In Hitler’s book, Thiessen notes, the future German dictator “laid out his plan to establish a thousand-year Reich in Germany and eradicate the Jews,” whereas Lenin in his book “laid out his plans to overthrow the Russian czar and establish a ‘dictatorship of the proletariat.’” Those would be points of minor interest and limited applicability if they were true, but, as a matter of fact, they are not. Mein Kampf is full of violent antisemitism, but nowhere in the book does Hitler lay out a plan to eradicate the Jews. He probably did not have such a plan at the time he wrote the book. Hitler was a decade away from his rise to power when Mein Kampf was written, and most scholars believe that Hitler himself had not set upon a policy of Jewish extermination until the mid-1930s. Like Mein Kampf, What Is To Be Done? is full of turgid theoretical disquisitions, but nowhere in the book does Lenin lay out a plan to overthrow the czar and establish—Karl Marx’s phrase already was old rhetorical hat by the time of Lenin’s writing—a “dictatorship of the proletariat.” The Bolshevik Party had not yet been founded—indeed, much of What Is To Be Done? is dedicated to obscure questions of party organization and Lenin’s defense of the central role of intellectuals above and beyond the “spontaneity” of the workers’ organizations. The only thing Lenin lays out much of a plan for in the book is launching a socialist newspaper, an enterprise that, unlike overthrowing the czar, gets an entire chapter of its own.

 

To take seriously Thiessen’s advice—to take seriously the words of the world’s fanatics and rabble-rousers—would require, at a minimum, knowing what those words actually are. Neither Mein Kampf nor What Is To Be Done? was a manual for how their authors would try to operate government, but, if Thiessen really wants to think of such books that way, then he probably should do what the boys down in tech support used to advise in the 1990s: RTFM—“Read the Manual.”

 

That Marc Thiessen is a lazy columnist who very often does not know what he is talking about is a matter of general knowledge if not a matter of general interest. What is worth thinking on a good bit is the way in which his argument demonstrates the opposite of what he apparently thought his point was going to be: A great deal of what is presented to men such as Donald Trump as “common sense” grounded in “moral clarity” is, in fact, superficial piffle put forward by men and women who have not done the homework and who do not know what they are talking about.

 

Trump is praised by such figures as Thiessen for what is supposed to be his plain good sense, native cunning, gut instinct, whatever you want to call it. But those “disloyal” leaks show—as though it needed to be shown—how limited that sort of thing is. Before launching the current campaign in February, Trump consulted his intelligence advisers. Let us remember that this group was at the time led by crackpot cult member Tulsi Gabbard. But Gabbard apparently passed along the advice of the actual professionals, who warned Trump that wiping out the Iranian leadership probably would usher in a new group, possibly more hardline and even more committed to acquiring a nuclear weapon. They advised that Tehran would close the Strait of Hormuz and that this would play hell with oil prices, that our stockpiles were not stocked and piled high enough, that there were other “readiness problems for an overstretched force,” as the Wall Street Journal put it. Trump launched the war, anyway, hoping—as though hope were a policy—that the Iranians would rise up and overthrow their government, presumably while parading through the streets with placards of Donald Trump.

 

Thiessen was right about one thing: There were naysayers, and Trump did not listen to them. He probably should have. He needs to hear “nay” more than he has.

 

In much the same way that one could not extrapolate the course of German or Russian history from Mein Kampf or What Is To Be Done?, trying to predict the course of Iranian history based on the instincts of Trump’s gut, however ample, was—and continues to be—stupid and dangerous. The ideological origins of the Iranian revolution, and the current ideological character of the Iranian regime, are more complicated than barstool experts such as Thiessen would have you believe—it is not all fanatical Twelver Shiism stuff. It is worth remembering how many of the national liberation movements of the 20th-century Middle East were led and profoundly influenced by men who thought of themselves as serious socialists—indeed, the Russian revolution had a meaningful ideological influence on the Iranian one, which makes it a little bit ironic that the Soviets were even more surprised by its success than the shah’s American friends were.

 

Thiessen would make do with a rather lighter course of study. He writes that Trump knew enough from listening to the ayatollahs in their own words:

 

For 47 years, the Iranian regime pledged to bring “death to America.” In a 2023 speech, Ayatollah Ali Khamenei declared, “When you chant ‘Death to America,’ it is not just a slogan, it is a policy,” adding that were it not for America the “artificial Zionist regime would have been destroyed.” In 2022, he declared, “Yes, it will happen. Death to America will happen.”

 

It is a safe bet that Trump has not spent very much time listening to the actual words of Iran’s leaders or reading them. He knows what he sees on Fox News (where Thiessen is a contributor), and he knows what people tell him. Which people? Crackpots such as Tulsi Gabbard and Robert F. Kennedy Jr., amateurs and incompetents such as Pete Hegseth, scheming sycophants such as J.D. Vance and Marco Rubio, yes-men in Congress, and the occasional Washington Post columnist making confident assertions about books he never has bothered to read.

 

In Closing

 

One of the things that wise people will tell you when you have children is that while it is easier if you have enough money to give them the things they want, what they really want from you, especially when they are very little, is your time and attention. When I fail to resist my inner Clark Griswold, I buy my boys a lot of toys—but, then, I buy myself a fair number of toys, too, so I suppose it is to be expected. Life has not given me proverbial lemons, but literal lemons—those are an excellent investment: The boys like it when I make lemonade with them. This weekend, we made two kinds of lemonade: the regular stuff and a more complicated version with strawberries and just a little bit of rosemary. My oldest boy had helped me plant the rosemary a few months ago, and I commissioned him to harvest some from the garden.

 

A bag of lemons, a bag of limes, some sugar, some frozen strawberries, a sprig of rosemary cut from our own garden, a bowl of watermelon chunks (and, if I’m being honest, some much more popular potato chips) to snack on while we are squeezing the lemons and the limes—that is a pretty good half-hour. And then we have two kinds of lemonade with lunch. A few months ago, they made a mixed-berry pie out of berries they had gathered themselves, and it was the best piece of pie I have ever had, probably for reasons having nothing to do with the quality of the ingredients or the baking.

 

It is reasonably cool in August where I live, but still warm enough for a glass of lemonade. The deer are out bothering my lilac and roses, but the lavender is thriving, and the rosemary will find its way to a roasted chicken (Mrs. Williamson is an excellent cook) when the fall weather arrives for real. “Long days and short years,” they say, and, my God, isn’t it true? Only a dozen more summers until the older boy qualifies for a driver’s license, assuming we’re still letting human beings drive cars then.

 

The summers always seemed so long when I was his age. Practically endless. Not now. I do not have a very strong feeling one way or the other on lemonade. Lemonade is fine. But making lemonade with four little boys giggling and squealing and being delighted? With their lovely mother, pleased by the scene, seeming almost as delighted? They tell me that Heaven will be better than any of this, but I am not sure that I believe it. I don’t need it to be, and I am not even sure that I want it to be. The same hand that made these lemons and limes and the good clean water and the late August sun made those four little boys and their mother, and gave their peevish, irritable father just enough sense to wonder whatever he did to deserve such blessings. The children getting juice all over their pajamas or summer shorts, their mother in her sweatpants furtively trying to get a little housework done, the dachshund hoping somebody drops something tasty on the floor, the thirsty rosemary in the garden—do you know what I think? I think Solomon in his glory was not arrayed like one of these.

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