Warren A. Stephens

Common Wisdom v2.0

Reading time – 2:50; Viewing time – 3:52  .  .  .

This post has waited a year to be published for the obvious reason that so much craziness occurs constantly that some important things get left behind.

In a May 31, 2017 article in the Wall Street Journal entitled, Why Do The Young Reject Capitalism?, by Warren A. Stephens, the claim was made that our colleges and universities are bastions of lefty-ism that teach our young pups to hate capitalism. The letters to the editor that followed on June 11 were all in agreement, one of them even declaring that our children have been “on the dole” all their lives, so of course they expect others to do the work. It’s all a very tidy package of stereotypes. There’s a palpable self-satisfaction of all the writers pointing fingers at and judging colleges and students who just don’t get the pure perfectness of unfettered capitalism and who are probably harming we who do get it.

But where is the substantiation for the claim that higher education in America is anti-capitalism and teaches our students to be freeloaders? It’s easy to make the sweeping claims, but doing so doesn’t make those claims true, any more than what’s-his-name accusing President Obama of wiretapping Trump Tower made his evidence-free claims true.

Young people have always worn their idealism on their shirtsleeves – you did, too – but does their idealism mean that our schools are teaching them to hate capitalism and be bums? That common wisdom may be common but I see no evidence of wisdom. Somebody please show me the unbiased research that justifies such claims. Otherwise, Warren A. Stephens, you can just shut up.

Everyone knows that our popular press is lefty. In a June 17, 2017 piece for the New York Times entitled Notes on A Political Shooting, which was prompted by the shooting of Rep. Steve Scalise and security people at a baseball practice, Ross Douthat casually wrote, “But because our centrist elites are actually center-left there is a constant, involuntary tug toward emphasizing what’s wrong on the right-wing side of the spectrum and excusing what’s wrong on the other.” Apparently, those centrist elites are torqued until they’re lefty blue and we are all misled by their slant.

Douthat’s claim of a lefty press is made as a given, and others make that claim, too, but is there any truth to it? Where is the unbiased study that says overall our so-called “elites” – does that mean journalists? – are lefties? It certainly isn’t true at The Wall Street Journal or The Arizona Republic or The Chicago Tribune or The Manchester Union Leader or The Orange County Register, all of which are editorially righty publications, and there are many others. Nearly all of our talk radio is either conservative or extremist right fringe. I’m not convinced of the wisdom of Douthat’s common wisdom. Somebody please show me the research that justifies his claims. Otherwise, Ross Douthat, you can just shut up, too.

The claims of left-leaning anti-capitalism of our colleges, our students and elites are easy to make, but I want someone to substantiate them with actual factual facts. Not an “everybody knows” justification, but empirical data. You know – like science-y stuff. Until then, my wisdom about these claims of common wisdom is that the wisdom part is missing. These are yet another set of stories told over and over until people come to believe the claims, without having any justification that’s grounded in reality on planet Earth.


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