Millennials Love Free Markets, But Don’t Understand Them

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3. Millennials Love Free Markets, But Don’t Understand Them
«The answer is simple, Millennials simply do not understand what either of these words really mean, especially capitalism.

The word capitalism is generally unpopular on college campuses around the country. In pop culture, it is rare, though not impossible, to find a story where the capitalist ends up being the hero. All day long we are bombarded with anti-free market propaganda. Oddly enough, most of this anti-capitalist rhetoric is available to us through mediums that exist only because of the free market. For example, every time a young, enthusiastic socialist tweets about the injustices of capitalism from his or her iPhone, they are living proof that Millennials love the free market.

If there is one thing the Millennial generation struggles with, it’s patience. We have grown up in a world where everything has been available to us with the click of the button. We have never had to use encyclopedias or spend hours doing research in a library. Instead, we Google whatever it is that we were looking for and in a matter of seconds, we have a plethora of sources. Socialism is not generally associated with quick results. Instead, extreme bureaucracy usually tends to make things take even longer than they otherwise would, much like a government bread line. Likewise, a government-run healthcare system usually results in longer waiting periods even for simple office visits. Millennials hate waiting. I am willing to bet that if these self-proclaimed socialists were to spend some time in a socialist country, they would not last very long.

Millennials love quality, one-of-a-kind products. Platforms like Etsy have served the Millennial generation as a sort of online farmers’ market where strangers from around the world buy and sell handmade goods from each other. Whether you’re looking for a beard warmer or craft BBQ sauce, Etsy has it. Likewise, we live in a world fueled by Amazon Prime. Not only do we have access to almost anything we could possibly need or want, we are also having these items shipped to our door in two days. Both Etsy and Amazon are wonders brought to us by the free market. So, as Millennials login to Amazon to purchase a copy of The Communist Manifesto, they might want to consider the fact that the book is delivered to them in 48 hours all thanks to capitalism.

Millennials are entrepreneurs. We are using technology to our advantage and making the world run quickly and efficiently. Though some might speak loudly in favor of unions and collective bargaining, on a late night when no cabs can be found, a Millennial knows that a safe ride will be available to us in minutes by opening our Uber App. Apps like Square, Venmo, and PayPal have allowed us to start small businesses and collect payment with ease. Sites like YouTube allow us the opportunity to gain exposure and promote whatever it is we are working on or selling without ever leaving our homes. We have the potential to be the most entrepreneurial generation our country has ever seen.

Millennials love to actively participate in the market process. Active participation is one of the fundamental principles of the free market. If we are not willing to give feedback and review our purchased consumer goods, we will not get the most innovative processes or the best quality products available. Millennials have grown up in a world where every thought and opinion is shared on social media. Platforms like Yelp have become important tools in the hands of young consumers who are either pleased or completely outraged about the goods or services they received. As a result, Millennials, more than any other generation, are reading online reviews of a company or product before making the decision to buy. According to Forbes, 33% of Millennials said that they read reviews of a product before deciding to buy.»