The newly released movies, Lone Ranger and Iron Man 3 both feature an evil capitalist as the villain. Writing at The American Spectator, Jonathan Witt addresses this common practice in Hollywood:
This media stereotype is so persistent, so one-sided, and so misleading that an extended definition of capitalism is in order. First a quick bit of housekeeping. Yes, there are greedy wicked capitalists—much as there are greedy wicked musicians, greedy wicked landscape architects, greedy wicked manicurists, et cetera, et cetera, ad infinitum—just as there are good people in each of these professions.
Now onto what capitalism is and isn’t. Capitalism is an economic system characterized by private (rather than state) ownership of businesses, a system where investments are determined by private decision, and where prices, production, and the distribution of goods and services are determined mainly by free choices in a free market overseen by the rule of law and stable property rights. In cultural terms, most of us are what you might call functional capitalists. At least when we’re not wrestling with theoretical abstractions, we buy, sell, trade, invest, donate; and we much prefer to do so free from the dictates of one or more government bureaucrats. (more…)