This interviewee is a 57 year old White male who lives in Virginia. He grew up in New Jersey and then moved to Virginia about five years ago. He is a college graduate with a law degree. He has been working in the insurance business for over twenty years. He formerly worked in New York City for many years and now works from home in Virginia.
How do you define capitalism?
“Capitalism is an economic system which provides a monetary incentive to every individual, without regard to class, race, creed, or religion, but in direct relation to how ambitious and industrious they are. Wealth and money is relative to the individual, some are satisfied with minimum wage which is fine and some want more, it all depends on what makes you happy. But in a capitalist economy the opportunity is there for every individual to prosper according to their wants and desires.”
Where do you see capitalism in action?
“Businesses, the local pizza and bagel place, Walmart, retail stores, Amazon, etc etc etc.”
How do you think capitalism impacts the economy?
“It creates a better product through competition. It creates wealth for individuals who then can spend their money at other businesses which keeps people employed.”
What do you think of other economic systems other than capitalism?
“I don’t think much about them, most are based on shared wealth, government control and dictatorships. Any country who had these economic systems did not last long; they do not stimulate ambition, inventiveness or creativity in an individual. If you like being told what to do in all aspects of your life then socialism, communism, or marxism is for you.”
What do you think are some positive aspects of capitalism? What negative aspects?
“Positive aspects include: Instills competition, ambition, creativity and individualism. All positive personality traits. It causes people to strive for greatness. Negative aspects include: failure in a capitalist economic system can devastate the weak minded individual and therefore the system needs to support those who give up. Which creates a dependent class of people.”
Analysis:
This interview was interesting and similar opinions were shared with my last interview. This interview and the last interview were both from the same generation and for my next interview I would really like to get an individual from a completely different generation particularly a younger generation.
