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08/31/2003 Entry: "Intellectuals and capitalism"

I'd intended to leave economics alone for a bit, but Josh Claybourn drew my attention to this article: Why Do Intellectuals Oppose Capitalism?.The claim that's being made, I think, is that essentially "intellectuals" --people of intelligence or of a certain level of education, but those who, in their vocation, deal with ideas as expressed in words, shaping the word flow others receive-- oppose capitalism out of envy and resentment. They are not rewarded as highly as they believe they should be, whilst people of lesser intellect receive big rewards. Hence their opposition.First of all, I need convincing that the majority of intellectuals do oppose capitalism. It at least is a testable proposition. But supposing it is true, what about the conclusion that's drawn? I suggest one alternative that springs immediately to mind. If "intellectuals" are not so motivated by financial reward as others -- and let's face it, entering a lifetime of study in an academic institution (for example) is not the mark of someone attracted by the salary -- it could just be that their criticism of capitalism arises from their different perception of the world. I'd draw a sporting analogy. Players and fans of football (what some of you call soccer) often look at rugby and are entirely turned off by it. Likewise, the rugby follower may feel no appreciation for football. In fact, my experience of die-hard rugby fans is that they are extremely likely to say uncharitable words about the Association code. So the intellectual, motivated by the power of words and the pursuit of ideas, just doesn't "connect" with the world of capitalism.

But not being one, I wouldn't really know.

Posted by Richard @ 09/04/2003 09:13 PM CST

So, let me get this straight - the highly intelligent and educated people tend, on the whole, to be actively critical of capitalism?

Hmm. What does that say?

Posted by Wood @ 09/04/2003 01:45 PM CST

Well, yes. That was my point. Just as rugby fans are often vociferous critics of football. It doesn't have to be envy that motivates it - just a deeply held opinion that the rules the other fellows play by are $@£&$*!%

Posted by Richard @ 08/31/2003 09:24 PM CST

I think that without question a large portion of intellectuals are opposed to capitalism, or at least libertarian ideals. I know this is especially true in many of the elite institutions.

Not connecting with the world of capitalism is one thing, but many take the added step of actively arguing against it and working to convince others of the same.

Posted by Joshua Claybourn @ 08/31/2003 08:47 PM CST