Wow, there is a lot to unpack there.

Posted on: July 20, 2021 at 09:55:39 CT

First, I agree with her that transactions alone are not capitalism. And I disagree with Sean Spicer that selling some merchandise is capitalism. Capitalism isn't a system or a framework or anything of the like. Capitalism can only be understood when you step back, look at, and describe what occurs when free acting humans are generally uninterfered with by govt. In the process, certain themes will inevitably be observed; those being, profit-seeking behavior, price mechanisms to guide decision-making and allocate resources, time value of deferred consumption from investment, voluntary investment and conservationist behaviors, and of course general prosperity to the extent attainable by physical constraints. That's capitalism. Not making a few sales.

Second, AOC is clearly wrong when she says her outfit doesn't seek profits. She says her outfit is funding tutoring, food, and organization projects. Where are those funds coming from if not from the difference between the cost of producing her wares and the revenue generated from selling her wares?

Third, profit-seeking behavior is a beautiful and very humane thing. We all do it every single day of our lives. Profits are getting more out of what you put in. That's how the world advances. Long live profits!