It is only a slight exaggeration to say that most recent college graduates learned everything they know about capitalism from Barbara Ehrenreich. Ehrenreich’s 2001 book Nickel and Dimed was compulsory summer reading for entering freshmen throughout most of the past decade at countless campuses across the country, including Smith, Rutgers, the State University of New York-Brockport, Slippery Rock University of Pennsylvania, the University of North Carolina-Chapel Hill, Appalachian State University, Illinois Wesleyan, Northern Arizona University, and California State University-Northridge. At none of those campuses were students at any level, from freshmen to graduating seniors, required to read a single word written by Adam Smith, whose Wealth of Nations (1776) is considered the seminal philosophical justification for a Western economic system that relies on private property and private investment and allows the market, not governments, to set wages and prices, in the process generating prosperity from the pursuit of self-interest. Nor were those students—and the same can be said for their successors enrolled in college today—required to read any of the seminal philosophical critics of capitalism, such as Karl Marx or Ferdinand Tönnies, who famously worried that social systems based on Gemeinschaft (traditional bonds of family and neighborhood) were being replaced by those based on Gesellschaft (impersonal monetary and contractual relations).
Stay informed.Stay ahead.
Join Washington Examiner for unlimited access to the news, analysis, and commentary that matter most.
Already a member? Log in
