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Modern capitalism is turning 250, too. We need to remind Americans why it’s important
Por Frank Miniter
Published August 23, 2026
Adam Smith’s "The Wealth of Nations" is turning 250 this year. It is, perhaps, not completely coincidental that this original capitalist tome was first published in 1776 — the same year the Declaration of Independence was written and signed to free this nation from British subjugation of the people’s rights, including their right to commerce.
One of the grievances listed against King George III in the Declaration of Independence was: "For cutting off our Trade with all parts of the world." And many of the taxes, restrictions on trade and more from the British at the time — things that led to the Boston Tea Party and the American Revolution — were government actions and restrictions "The Wealth of Nations" argued against.
For these reasons, it is an oversight of Republican Party leadership that this telling anniversary was not mentioned in the 250th celebrations of the signing of the Declaration.
DEMOCRATS' SOCIALIST SURGE PROVES AMERICA'S 250-YEAR FIGHT FOR FREEDOM ISN'T OVER
We are, after all, now in a moment of history when many of the youth in our elite universities, along with their professors, are openly flirting with socialism.
Palmer Luckey, founder of Anduril Industries, during an interview on "The Circuit with Emily Chang" at Anduril's headquarters in Costa Mesa, Calif., on Dec. 14, 2023. (Kyle Grillot/Bloomberg via Getty Images)
And it isn’t just the universities.
EL AUGE DEL SOCIALISMO DENTRO DEL PARTIDO DEMÓCRATA AMENAZA AHORA EL SUEÑO AMERICANO
There are now Democratic Socialists of America (DSA) members running metropolitan areas from New York City to Richmond, Calif. The DSA currently claims around 250 members in elected government positions nationwide (mostly in local offices) and over 100,000 members. (Its newsletter literally begins with "Dear Comrades.")
A lot of political commentary is understandably focused on the fact that the candidates with socialist views who recently won Democratic primaries — most notably to represent Michigan in the U.S. Senate (Abdul El-Sayed) — are arguably too far left to win general elections.
WE’RE ALL MISSING THE SOCIALIST TAKEOVER THAT’S HAPPENING IN PLAIN SIGHT
The trouble is, the framing here still matters.
If a far-left socialist candidate can convince a majority of voters that they are just a smiling, compassionate Mr. Rogers type, as Zohran Mamdani did to become mayor of New York City, then they can win.
REPASO: LA HISTORIA DE MAMDANI EVITANDO RESPONDER A PREGUNTAS SOBRE SU POSTURA ANTE TEMAS CLAVE
When they push back, many point to the complete destruction of individual liberty and economic mobility that occurred in Cuba, Venezuela and other places after people were seduced by socialists. But there also needs to be a positive message to excite freedom-loving voters. This should not be difficult; after all, capitalism has given us a standard of living never before seen in the history of the world.
But how do you make this understandable to those who only get their news on social media?
El inventor y empresario estadounidense Thomas Edison (1847-1931) con un Fonógrafo Estándar Edison, en su laboratorio de West Orange, Nueva Jersey, 1906. (Keystone-France/Gamma-Keystone vía Getty Images)
SOCIALISM WILL 'CONTROL PEOPLE' AND 'TAKE EVERYTHING AWAY' FROM AMERICA, ACCORDING TO THESE EXPATS
One key way, as history has long shown, is to highlight individual, heroic stories. This is why I included heroes like Thomas Edison in "Cool Heroes for Boys."
Americans love heroes, and we have a lot of heroes to choose from.
WE SHOULD TELL REAL AMERICAN ADVENTURE STORIES TO TEACH OUR BOYS ABOUT HEROES
"Wealth of Nations" celebrated the shopkeeper and, indeed, President Donald Trump won again in part because of support from blue-collar workers — a constituency Democrats used to rely on, but that the elites of the Democratic Party now despise.
Just imagine if more Republicans showed that capitalism can and does free individuals to achieve their dreams via stories starring normal people, such as the workers "Dirty Jobs" host Mike Rowe often lionizes.
If a far-left socialist candidate can convince a majority of voters that they are just a smiling, compassionate Mr. Rogers type, as Zohran Mamdani did to become mayor of New York City, then they can win.
LIZ PEEK: THE LEFT SAYS THE AMERICAN DREAM IS DEAD, BUT MILLIONS PROVE OTHERWISE
This is especially important because in the upcoming midterm elections, the economy/cost of living is by far the dominant issue. Only the market economy once heralded by Adam Smith can solve this. The left offers centralized planners who prefer to allocate resources to their favored constituencies; whereas the right offers individuals the freedom to rise via their own hard work.
Young men like Ethan Thornton, who founded Mach Industries, and Palmer Luckey, who co-founded Anduril Industries, are current examples of free-market entrepreneurs changing the world. Billionaire Elon Musk, once a darling of the left, remains a heroic example of what the American entrepreneur can accomplish.
Such individuals are fallible human beings, but their accomplishments can be cited by free-market politicians who want to positively show young voters the way to real prosperity — I’ve made podcasts with these individuals and more required viewing for my 14-year-old son.
The same can be done with issues like housing affordability and healthcare. Both of these markets are heavily regulated and, in many ways, controlled by special interests. There are, however, heroes trying to reform them.
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It did not help that the U.S. Senate left town without passing the very popular Save America Act to safeguard elections. But perhaps a heroic stand can still be taken by the Trump administration and by the senators who argued they must pass this legislation. Republicans need a "Mr. Smith Goes to Washington" moment to energize their voters.
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Capitalism is now 250. If it is going to make it out of this generation, it needs heroes to stand up for it.
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https://www.foxnews.com/opinion/modern-capitalism-turning-250-remind-americans-why-important