R. Matthew Poteat: False Promise of Unbridled Capitalism

R. Matthew Poteat is an assistant professor of history in the Virginia Community College System.

GOP presidential hopeful Tim Pawlenty is finding out that the road to his party's nomination runs to the right. The far right. Take for example Pawlenty's view on capitalism:

"I'm a market person, but there are certain circumstances where you've got to have government put up the guardrails or bust up entrenched interests before they become too powerful."

This view, however, is no longer acceptable to many GOP voters. These voters believe not only that unbridled capitalism will fix the debt/ deficit crisis, create jobs, and protect American freedoms, it will also fix our schools and hospitals, too. They believe the government should "get out of the way," deregulate the marketplace, slash taxes and spending, and let independent market forces do their job.

The problem is, market objectivity is an illusion. There is no such thing as a truly free market. In a truly free market there would be one-page trade agreements. Trade in child labor, drugs, sex, and weapons would be open. Environmental regulations would not exist. Foreign capital and foreign workers would flow freely across borders....