{"id":977,"date":"2022-07-22T11:28:39","date_gmt":"2022-07-22T15:28:39","guid":{"rendered":"https:\/\/sites.nd.edu\/world-politics-2021\/?page_id=977"},"modified":"2022-07-22T11:28:39","modified_gmt":"2022-07-22T15:28:39","slug":"david-brooks-i-was-wrong-about-capitalism","status":"publish","type":"page","link":"https:\/\/sites.nd.edu\/world-politics-2021\/david-brooks-i-was-wrong-about-capitalism\/","title":{"rendered":"DAVID BROOKS,  I Was Wrong About Capitalism"},"content":{"rendered":"<header class=\"css-1obp038 euiyums1\">\n<div class=\"css-s8u3w2 euiyums0\">\n<p class=\"css-1ca3kv7 e6idgb70\">DAVID BROOKS<\/p>\n<\/div>\n<div class=\"css-1vkm6nb ehdk2mb0\">\n<h1 id=\"link-79188b7c\" class=\"css-xkf25q e1h9rw200\" data-testid=\"headline\">I Was Wrong About Capitalism<\/h1>\n<\/div>\n<div class=\"css-1kgs4rm\">July 21, 2022<\/div>\n<figure class=\"sizeMedium css-mnvusp\" role=\"group\" aria-label=\"media\" data-testid=\"VideoBlock\">\n<div class=\"css-bsn42l\"><span class=\"css-1dv1kvn\">Video<\/span><\/p>\n<div class=\"css-11kuxu4\">\n<div class=\"css-122y91a\"><img decoding=\"async\" class=\"css-c7hxrg\" src=\"https:\/\/static01.nyt.com\/images\/2022\/07\/20\/opinion\/sunday\/20IWasWrong-02\/20IWasWrong-02-square640.jpg\" alt=\"Cinemagraph\" \/><\/div>\n<\/div>\n<\/div><figcaption class=\"css-y5g5d7 e1maroi60\"><span class=\"css-cch8ym\"><span class=\"css-1dv1kvn\">Credit<\/span><span class=\"css-1u46b97 e1z0qqy90\"><span class=\"css-1ly73wi e1tej78p0\">Credit&#8230;<\/span>Sean Dong<\/span><\/span><\/figcaption><\/figure>\n<div class=\"css-10cldcv\">\n<div role=\"toolbar\" data-testid=\"share-tools\" aria-label=\"Social Media Share buttons, Save button, and Comments Panel with current comment count\">\n<div class=\"css-12jilgu\">\n<div class=\"css-vxcmzt\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"css-sklrp3\">\n<div class=\"css-t91cuf epjyd6m1\">\n<div class=\"css-1w5zm64 ey68jwv0\" aria-hidden=\"true\"><a class=\"css-uwwqev\" href=\"https:\/\/www.nytimes.com\/by\/david-brooks\"><img decoding=\"async\" class=\"css-1xc8k6k ey68jwv2\" title=\"David Brooks\" src=\"https:\/\/static01.nyt.com\/images\/2018\/04\/03\/opinion\/david-brooks\/david-brooks-thumbLarge-v2.png\" alt=\"David Brooks\" \/><\/a><\/div>\n<div class=\"css-ehpuw4 epjyd6m0\">\n<p class=\"css-1tx0lhj e1jsehar1\"><span class=\"byline-prefix\">By\u00a0<\/span><span class=\"css-1baulvz last-byline\"><a class=\"css-n8ff4n e1jsehar0\" href=\"https:\/\/www.nytimes.com\/by\/david-brooks\">David Brooks<\/a><\/span><\/p>\n<div class=\"css-8atqhb\">\n<p class=\"css-1t6vh53 e1wtpvyy0\">Opinion Columnist<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/header>\n<section class=\"meteredContent css-1r7ky0e\">\n<div class=\"css-s99gbd StoryBodyCompanionColumn\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">I have a specific way I tend to be wrong. I fall behind. Every day the world turns and every day I try to adjust my belief system to the realities of the moment. You would think I\u2019d be able to recognize the emerging challenges and shifting tectonics fairly quickly. As a newspaper columnist, I\u2019m paid for one skill above others: careful observation. But sometimes I\u2019m just slow. I suffer an intellectual lag.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Reality has changed, but my mental frameworks just sit there. Worse, they prevent me from even seeing the change that is already underway \u2014 what the experts call \u201cconceptual blindness.\u201d I\u2019m trying to address one period\u2019s problems through the last period\u2019s frameworks.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">It\u2019s not until I dismantle and reconstruct those preconceptions that everything becomes obvious \u2014 until the next historic change.<\/p>\n<\/div>\n<\/div>\n<div class=\"css-s99gbd StoryBodyCompanionColumn\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">Let\u2019s start at the beginning.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">When I was in high school and college, I was a democratic socialist. I was entranced by the left-wing radicals of the 1930s \u2014 the way they wrote, painted, marched and organized on behalf of working men and women. I saw the world through the lens of class struggle.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"><\/aside>\n<\/div>\n<div><\/div>\n<div class=\"css-s99gbd StoryBodyCompanionColumn\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">That was surely a useful frame for the 1930s, when the economy was heavily industrial and when millions were hungry and out of work. But when I was in college in the early 1980s, the economy was not like that. America was suffering from stagflation \u2014 high unemployment and high inflation at the same time. The chief problem was sclerosis. Over the years special-interest groups had clogged up the economy with overly burdensome regulations, work rules, perverse tax structures and all the other sinecures the economists call \u201crent seeking.\u201d<\/p>\n<p class=\"css-at9mc1 evys1bk0\">The United States needed a shot of dynamism to get the entrepreneurial and innovative juices flowing. It took me until about 1985 to realize that the people I disdained \u2014 Ronald Reagan and Margaret Thatcher \u2014 were actually doing something useful and needed.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">So off to The Wall Street Journal\u2019s editorial page I went, to drink deep from the wells of free-market thinking. For a while this bet on free-market economic dynamism seemed to be paying off. It was the late 1980s and 1990s \u2014 the golden days of globalization, liberalization, the early creativity of Silicon Valley.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">In the early 1990s, The Journal sent me on many reporting trips to the U.S.S.R. and, later, Russia, and everything that was uncool in New York was cool in Moscow, so to be a right-wing editorial writer was to be cutting-edge and hip. I paid close attention to all the privatization plans that were floating around. If state property could be distributed to the masses, then a new capitalist Russia could be born.<\/p>\n<\/div>\n<\/div>\n<div class=\"css-s99gbd StoryBodyCompanionColumn\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">I saw but did not see the enormous amount of corruption that was going on. I saw but did not see that property rights alone do not spontaneously make a decent society. The primary problem in all societies is order \u2014 moral, legal and social order. It took me a while to see that what Russia really needed was not privatization first, but law and order first.<\/p>\n<\/div>\n<aside class=\"css-ew4tgv\" aria-label=\"companion column\"><\/aside>\n<\/div>\n<div><\/div>\n<div class=\"css-s99gbd StoryBodyCompanionColumn\">\n<div class=\"css-53u6y8\">\n<p class=\"css-at9mc1 evys1bk0\">By the time I came to this job, in 2003, I was having qualms about the free-market education I\u2019d received \u2014 but not fast enough. It took me a while to see that the postindustrial capitalism machine \u2014 while innovative, dynamic and wonderful in many respects \u2014 had some fundamental flaws. The most educated Americans were amassing more and more wealth, dominating the best living areas, pouring advantages into their kids. A highly unequal caste system was forming. Bit by bit it dawned on me that the government would have to get much more active if every child was going to have an open field and a fair chance.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">I started writing columns about inequality. I called around to my right-leaning economist friends and they sensed inequality was a problem, but few had done much work on the subject or done much thinking on how to address it.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">I saw but didn\u2019t see. By the time the financial crisis hit, the flaws in modern capitalism were blindingly obvious, but my mental frames still didn\u2019t shift fast enough. Barack Obama was trying to figure out how to stimulate the economy and I still had that 1990s \u201cthe deficit is the problem\u201d mind-set. I wrote a bunch of<a class=\"css-yywogo\" title=\"\" href=\"https:\/\/www.nytimes.com\/2009\/01\/23\/opinion\/23brooks.html\">\u00a0columns<\/a>\u00a0urging Obama to keep the stimulus reasonably small,\u00a0<a class=\"css-yywogo\" title=\"\" href=\"https:\/\/www.nytimes.com\/2009\/01\/30\/opinion\/30brooks.html\">columns<\/a>\u00a0that look wrong in hindsight. Deficits matter, but they were not the core challenge in 2009. I opposed Obama\u2019s auto bailout on free-market grounds, and that was wrong, too.<\/p>\n<p class=\"css-at9mc1 evys1bk0\">Sometimes in life you should stick to your worldview and defend it against criticism. But sometimes the world is genuinely different than it was before. At those moments the crucial skills are the ones nobody teaches you: how to reorganize your mind, how to see with new eyes.<\/p>\n<p class=\"css-798hid etfikam0\"><em class=\"css-2fg4z9 e1gzwzxm0\">The Times is committed to publishing\u00a0<\/em><a class=\"css-yywogo\" title=\"\" href=\"https:\/\/www.nytimes.com\/2019\/01\/31\/opinion\/letters\/letters-to-editor-new-york-times-women.html\"><em class=\"css-2fg4z9 e1gzwzxm0\">a diversity of letters<\/em><\/a><em class=\"css-2fg4z9 e1gzwzxm0\">\u00a0to the editor. We\u2019d like to hear what you think about this or any of our articles. Here are some\u00a0<\/em><a class=\"css-yywogo\" title=\"\" href=\"https:\/\/help.nytimes.com\/hc\/en-us\/articles\/115014925288-How-to-submit-a-letter-to-the-editor\"><em class=\"css-2fg4z9 e1gzwzxm0\">tips<\/em><\/a><em class=\"css-2fg4z9 e1gzwzxm0\">. And here\u2019s our email:\u00a0<\/em><a class=\"css-yywogo\" title=\"\" href=\"mailto:letters@nytimes.com\"><em class=\"css-2fg4z9 e1gzwzxm0\">letters@nytimes.com<\/em><\/a><em class=\"css-2fg4z9 e1gzwzxm0\">.<\/em><\/p>\n<\/div>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>DAVID BROOKS I Was Wrong About Capitalism July 21, 2022 Video CreditCredit&#8230;Sean Dong By\u00a0David Brooks Opinion Columnist I have a specific way I tend to be wrong. I fall behind. Every day the world turns and every day I try to adjust my belief system to the realities of the moment. You would think I\u2019d &hellip; <a href=\"https:\/\/sites.nd.edu\/world-politics-2021\/david-brooks-i-was-wrong-about-capitalism\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;DAVID BROOKS,  I Was Wrong About Capitalism&#8221;<\/span><\/a><\/p>\n","protected":false},"author":114,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-977","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/sites.nd.edu\/world-politics-2021\/wp-json\/wp\/v2\/pages\/977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sites.nd.edu\/world-politics-2021\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/sites.nd.edu\/world-politics-2021\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/sites.nd.edu\/world-politics-2021\/wp-json\/wp\/v2\/users\/114"}],"replies":[{"embeddable":true,"href":"https:\/\/sites.nd.edu\/world-politics-2021\/wp-json\/wp\/v2\/comments?post=977"}],"version-history":[{"count":1,"href":"https:\/\/sites.nd.edu\/world-politics-2021\/wp-json\/wp\/v2\/pages\/977\/revisions"}],"predecessor-version":[{"id":978,"href":"https:\/\/sites.nd.edu\/world-politics-2021\/wp-json\/wp\/v2\/pages\/977\/revisions\/978"}],"wp:attachment":[{"href":"https:\/\/sites.nd.edu\/world-politics-2021\/wp-json\/wp\/v2\/media?parent=977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}