AW is a 32 year-old married woman employed as a writer for a marketing department in Norfolk, VA. Prior to working in marketing, AW was a high school English teacher and has worked various retail jobs. Prior to moving to Virginia in her twenties, AW grew up in a middle-class family in Rochester, NY. She attended the University of Richmond and graduated with a degree in History and American Studies.
What is your definition of capitalism?
“Capitalism is an economic system in which the price and quantity of goods is determined by the free market and not a central planning authority.”
How does capitalism function as economic system?
“It functions as an economic system in that the market determines which companies or products will succeed and which will fail.”
How has capitalism been taught to you at different levels of your education?
“In high school, capitalism was given as a simple definition used to compare America’s economy with communism and other economic systems. It illustrated a point of difference in history between the US and the rest of the world. In college, it was examined more fully, as something perhaps problematic, because I was a history and American studies major. In my grown up life, I have been able to get a fuller, more usable understanding of capitalism by managing my own finances and my experiences with capitalism.”
What are the origins of capitalism?
“It originated because it is the most natural, unforced method and economic system. It originated in human life and evolution.”
Why do you think it is the most natural method?
“It’s similar to social darwinism – the best will survive, and sometimes that means things, companies, will die off, but that leaves the best to succeed.”
What do you think caused capitalism to become more widespread in the 19th and 20th centuries?
“During the late 1800s and 1900s, the rapid expansions in human invention and a more urban-driven lifestyle allowed for more competition among people and businesses and goods and trades. It’s hard to be competitive on a feudal manner, so once industry developed, it enabled competition.”
Who do you think are the major historical figures in the history of capitalism in America?
“I’m not sure, I have to think about it. I’d say Henry Ford, Andrew Carnegie, Bill Gates. It’s hard to come up with people, but I think thats a testament to how successful capitalism has been in this country. You can ask someone about communism and they can point out who experimented with it and why it failed. The fact that I can’t pinpoint one or multiple key figures shows capitalism’s flexibility and durability.”
Are there alternatives to capitalism for the United States?
“[Censored] no!”
Can you expand on that?
“I cite a) failed attempts by other countries throughout history and b) that the self-made man that is still prevalent in American identity, that what you put in affects what you get. I think Amtrak is a good example of why no system other than capitalism can work. It’s a government subsidized company and it runs terribly.”
AW’s interview reveals her support and belief in the capitalist system as the only economic system for America. Due to her academic background in history, she backs her opinions with history and has good knowledge of capitalism’s history, which has helped form her opinions.
