Sen. Rubio posits that shareholder capitalism needs overhauling because it no longer provides Americans with “the dignity that comes from hard work, ownership and raising a family.” The solution, he says, is an economy where politicians such as himself make more of the decisions about where capital gets invested, and where businesses and workers cooperate rather than compete for resources.
Again, some of us believe that cooperation is what you get in a market where workers are free to decide to whom they’ll sell their labor—and to whom they won’t. There is no greater security for a worker than the freedom to tell his boss to take his job and shove it, confident there is a good job for him elsewhere. Such confidence, of course, can be had only in a growing economy producing those jobs.
Experience, moreover, also tells us that when competition is tethered the result isn’t cooperation. It’s collusion. Indeed, Sens. Warren and Rubio would both find no more steadfast allies than libertarians if their goal were simply to eliminate rules and subsidies that artificially rig the market to favor big business and the politically connected at the expense of the little guy.