May 3, 2016—A recent Harvard University survey showed a slight majority of people aged 18 to 29 do not support capitalism. Only 42 percent supported capitalism, compared to 51 percent who did not. To Dr. Ron Paul, it’s “all in semantics.”
“It’s so far removed from free market capitalism, that it’s foolish,” Paul continued, “but for people to label it free market and capitalize on this and say, ‘well, you know, it’s so bad, what we need is socialism,’ that’s a problem. That’s a problem in definitions and understanding of what kind of policies we have. I’m a champion of free markets, but not of the current system that we have today.”
“I’m highly critical of it, because it’s designed to fail. It’s designed to reward the rich. It’s designed inevitably to destroy the middle class and also finance some of the worst things in government, all the deficits for the welfare state and for the warfare state. So, yes, it’s failing. People should reject what we have, but they shouldn’t reject liberty and freedom and sound economic policies, because that’s not the problem. The problem is we don’t have enough free markets.”
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