Posted on Jul 25, 2021
What AOC’s Latest Viral Twitter Argument Gets Wrong About Capitalism and Profit | Brad Polumbo
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https://fee.org/articles/what-aoc-s-latest-viral-argument-gets-wrong-about-capitalism-and-profit/?utm_source=email&utm_medium=email&utm_campaign=2020_FEEWeekly
Rep. Alexandria Ocasio-Cortez has a bachelor’s degree in economics from Boston University. But despite the progressive congresswoman’s educational background, she just once again revealed that she doesn’t have a very good understanding of capitalism.
Here’s the backstory behind Ocasio-Cortez’s latest social media flub.
Reuters reported that the congresswoman is investing $1.4 million in her online merchandising store. She sells clothing and apparel featuring such slogans as “Tax the Rich" and “Fight for Our Future.” The “Tax the Rich” sweater is priced at $58, as of this writing, a price likely inaccessible for many working-class Americans.
Anyway, Ocasio-Cortez’s investment in her merchandising operation attracted criticism. Former Trump official Sean Spicer tweeted at the progressive congresswoman with a tongue-in-cheek remark that she was “using capitalism to push socialism.” This rebuke didn’t go over well with Ocasio-Cortez, who replied “Not sure if you know this Sean, but transactions aren’t capitalism.”
“Capitalism is a system that prioritizes profit at any & all human/enviro cost,” she continued. “But… our shop is unionized, doesn’t operate for profit, & funds projects like free tutoring, food programs, & local organizing.”
Ocasio-Cortez isn’t wrong that some transactions could still happen in a socialist society. But voluntary transactions—like choosing to part with $58 in exchange for a sweatshirt—are the very foundation of free-market capitalism. Market exchanges create value, because voluntary transactions only occur when both parties are better off as a result. (Otherwise, they wouldn’t agree to them).
SPC Matthew Blevens MSG Joseph Cristofaro SGT Kevin Hughes CPL Richard Hughes SGT (Join to see) SGT (Join to see) PFC (Join to see) SSG (Join to see) SGT Don Schaffer CSM Chuck Stafford SGT Robert Pryor SPC Michael Duricko, Ph.D SSgt Marian Mitchell Lt Col Jim Coe Capt Jeff S. LTC Marc King @daleCOL Lisandro Murphy CPL David Bixler MCPO Roger Collins
Rep. Alexandria Ocasio-Cortez has a bachelor’s degree in economics from Boston University. But despite the progressive congresswoman’s educational background, she just once again revealed that she doesn’t have a very good understanding of capitalism.
Here’s the backstory behind Ocasio-Cortez’s latest social media flub.
Reuters reported that the congresswoman is investing $1.4 million in her online merchandising store. She sells clothing and apparel featuring such slogans as “Tax the Rich" and “Fight for Our Future.” The “Tax the Rich” sweater is priced at $58, as of this writing, a price likely inaccessible for many working-class Americans.
Anyway, Ocasio-Cortez’s investment in her merchandising operation attracted criticism. Former Trump official Sean Spicer tweeted at the progressive congresswoman with a tongue-in-cheek remark that she was “using capitalism to push socialism.” This rebuke didn’t go over well with Ocasio-Cortez, who replied “Not sure if you know this Sean, but transactions aren’t capitalism.”
“Capitalism is a system that prioritizes profit at any & all human/enviro cost,” she continued. “But… our shop is unionized, doesn’t operate for profit, & funds projects like free tutoring, food programs, & local organizing.”
Ocasio-Cortez isn’t wrong that some transactions could still happen in a socialist society. But voluntary transactions—like choosing to part with $58 in exchange for a sweatshirt—are the very foundation of free-market capitalism. Market exchanges create value, because voluntary transactions only occur when both parties are better off as a result. (Otherwise, they wouldn’t agree to them).
SPC Matthew Blevens MSG Joseph Cristofaro SGT Kevin Hughes CPL Richard Hughes SGT (Join to see) SGT (Join to see) PFC (Join to see) SSG (Join to see) SGT Don Schaffer CSM Chuck Stafford SGT Robert Pryor SPC Michael Duricko, Ph.D SSgt Marian Mitchell Lt Col Jim Coe Capt Jeff S. LTC Marc King @daleCOL Lisandro Murphy CPL David Bixler MCPO Roger Collins
Capitalism
Socialism
Economics
Government
Edited >1 y ago
Posted >1 y ago
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The woman is totally clueless. Hopefully, she’ll be out of a job in 2022. It can’t happen soon enough!
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SFC Casey O'Mally
We can hope. But unfortunately, she has built such a name for herself that she is guaranteed 15% of the vote just on name recognition. And since she is in a heavily Democratic district, she would almost definitely have to be primaried out. And since the Democrat establishment (for someone inexplicable reason) seems to like her, they are unlikely to support anyone trying to primary her.
I can be hopeful. But I have to say that I honestly believe she (as well as Tlaib, Omar, and Bush) is here for at least the next 4 or 5 cycles.
I can be hopeful. But I have to say that I honestly believe she (as well as Tlaib, Omar, and Bush) is here for at least the next 4 or 5 cycles.
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MAJ Dale E. Wilson, Ph.D.
Campaign funds. She, llhan Omar, and Eric Swalwell all took lessons from Duncan Hunter . . .
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She needs to go back to school and relearn what she was taught, and needs to pay tighter attention to the instructor this time Lt Col Charlie Brown
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Lt Col Charlie Brown
Whoever paid for that education should ask for their money back SGT David A. 'Cowboy' Groth
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