George Will on Nikki Haley’s defense of capitalism:
Speaking in a manner bracingly unusual in this city, Haley minced no words: “The American system is capitalism.” Although “the Founders never used the word, they gave us capitalism in all but the name,” because capitalism is “another word for freedom. And it springs from America’s most cherished ideals.” The Founders understood something the Supreme Court has forgotten for eight decades: Economic freedom is, like freedom of speech and free exercise of religion, a fundamental right. Capitalism has “lifted up more people, unlocked more progress and unleashed more prosperity” than any other system, yet “many people avoid saying that word, including some conservatives and business leaders.”
“Only in a prosperous country like America,” Haley said, “can people be so flippant about capitalism and so naive about socialism.”
from George Will in the Washington Post, Nikki Haley picks a worthy fight with anti-capitalist Republicans
it is also included as a chapter in his collection American Happiness and Discontents.
It was a comment on Haley’s WSJ editorial, This Is No Time to Go Wobbly on Capitalism:
Then there are critics who call for other kinds of hyphenated capitalism. Some are conservatives who seem embarrassed by the free market. They advocate for more tax credits here, more subsidies there, more mandates for this, more regulations for that. But their new capitalism would merely give government more power over businesses, workers and families. It differs from socialism only in degree.
It’s true that some businesses are corrupt. That isn’t capitalism, and it isn’t legal. It’s also true that too many lobbying interests win special treatment. That isn’t capitalism either. It’s cronyism and corporate welfare, which should be stopped. Finally, it’s true that income inequality exists. But that’s infinitely better than the alternative. Under socialism, everyone is equal—equal in poverty and misery—except for those who control the government.
Haley is clear minded about her ideology.
“Hyphenated capitalism is no capitalism at all. The better name for it is socialism lite.”