Well, capitalism (and praxeology more generally) is definitely a value-free science, as Mises reiterated. I’m speaking more to the OP video… “Should we have capitalism or should we have socialism?” Of course, this question is not using the word “capitalism” in exactly the way Mises used it since there is no “should” to capitalism, it simply describes the conditions that pertain under voluntary exchange, private property, etc.
Nevertheless, the intent of the question seems valid enough even if it is not phrased in precise language. Essentially, this is the question that divides the public into “left” and “right”. As Rothbard argued, the utilitarian argument for capitalism is a losing argument; the counter-argument will inevitably win. The counter-argument is that our moral duty as human beings is a higher priority than attaining the highest possible standard-of-living. This argument has been used by the Progressives for over a century to devastating effect. Yet, the majority of apologists for capitalism blindly stumble on with the attempt to apply purely value-free utilitarian arguments to the debate. “If you want to have a good standard-of-living, then what you need is capitalism” which the Progressives quickly translate for the audience to, “If you want to be rich, then you just have to accept that Chinese children are going to have to be enslaved by heartless Multi-National Corporations.” So much for utilitarianism.
But the fact is that there is something bigger at stake, here. Capitalism isn’t just more practical, it really is on the moral high ground. By ceding the moral high ground, capitalism is doomed to failure as a social norm. So, I think the question we need to focus on answer is how exactly is capitalism more moral?
The answer lies, in my opinion, in the Epicurean philosophy of ethics and, with some caveats, in some schools of Buddhism. Until you understand what is right and wrong (for yourself), you cannot understand why capitalism is the morally best social order. Once you understand what is right and wrong, capitalism follows naturally. Of course you have no business taking what belongs to another person under any pretext, and no matter how wealthy you imagine they are. Once you see that that’s the case, you will immediately perceive that socialism (and coercive governance, generally) is obviously immoral.
So, I think the path forward is a moral revolution. People need to hear about Epicurus’s ideas. They need to hear about the (correct interpetations of) the Four Noble Truths of Buddhism. They need to hear about the basic concepts of praxeology as expounded in HA which provide a comprehensive and precise social scientific foundation on which to filter out the mistakes of Epicurus and Buddhism and extend these ideas into their own lives and how to develop their very own theories of right living.
They need leaders to help them do this. I think the demand is there and is growing in direct proportion to the strength and power of the police state. The meat-headed, useful patriotic idiots are a loud minority. As the old proverb says, “the empty vessel is the loudest”. Those in the silent majority that have to get up every day and go to work and pay taxes and try to make ends meet with ever-more-worthless money know they are getting shafted but don’t have the luxury of quitting their job to become political activists while their children starve. They are trapped by a system that they don’t understand beyond its inescapability.
There is strength in numbers. The sole individual who has had the “lightbulb” go off in his head and “gets it” and realizes that the entire system is a sham is helpless. In fact, he is worse off than he was before. As Cypher says in the Matrix, “Ignorance is bliss.” And as long as your neighbors do not understand why the system they serve is actually evil, there is no chance they will ever resist it, even passively. But if the truth begins to spread and people begin to have a moral revolution in their lives, the status quo suddenly becomes highly tenuous.
People will stop “believing in” paying their taxes, being honest with government officials, and so on. The structure immediately begins to strain and crack as more and more people simply stop running on the job and start walking instead. Why are we killing ourselves for the little pittance that is left over once the redistributionary Establishment gets done with our paychecks? To hell with them, we’d rather live poor and happy with our family and friends and not serve these jerks than run ourselves to death on the absurdist corporate treadmill so we can buy a few more trinkets from the company store. The Greeks are not as stupid as you might think. I’m painting the issue in very high contrast but you get the idea. People who are awake to their slavery become much less enthusiastic to serve the Status Quo, thus initiating its demise.
Clayton -