Also, today 27% of the entire student body is non-American when back in 1900 it was estimated to be 1 to 3%. Non-Americans aren't going to care so much about 'service' at least in the USA - and most today don't even go back to their home countries to 'help out.' Not to mention that the Protestant Work Ethnic that reigned in earlier days has essentially been obliterated....
It is a bit surprising that a conservative publication would bemoan a preference of a number of classmates to go into business rather than “service” whatever that means. I suspect that our economy suffers from too many graduates in recent years learning little while in college and seeking (as well as having to) find jobs in government or nonprofits that advance leftist ideals, only to find that when, like now, government largesse and sinecures dry up, there is no “service”to be provided. A more familiar route to a fulfilled life can be found in the descriptions of candidates for Harvard Overseers who generally distinguish themselves both in their professions and in their good works along the way.
Capitalism is a system for the allocation of resources, and as such it is quite good. Sure, it is imperfect, given imperfect information and imperfect rational behavior, but it is the best of realistic options.
What capitalism is not is a way of life. Decisions, including economic decisions, should never be based solely on material or economic self-interest. A free society allows free decisions based on other factors, including those that run against self-interest. Indeed, such a society can flourish only if these factors include values higher than simply material ones.
Also, today 27% of the entire student body is non-American when back in 1900 it was estimated to be 1 to 3%. Non-Americans aren't going to care so much about 'service' at least in the USA - and most today don't even go back to their home countries to 'help out.' Not to mention that the Protestant Work Ethnic that reigned in earlier days has essentially been obliterated....
It is a bit surprising that a conservative publication would bemoan a preference of a number of classmates to go into business rather than “service” whatever that means. I suspect that our economy suffers from too many graduates in recent years learning little while in college and seeking (as well as having to) find jobs in government or nonprofits that advance leftist ideals, only to find that when, like now, government largesse and sinecures dry up, there is no “service”to be provided. A more familiar route to a fulfilled life can be found in the descriptions of candidates for Harvard Overseers who generally distinguish themselves both in their professions and in their good works along the way.
Excellent commentary.
Capitalism is a system for the allocation of resources, and as such it is quite good. Sure, it is imperfect, given imperfect information and imperfect rational behavior, but it is the best of realistic options.
What capitalism is not is a way of life. Decisions, including economic decisions, should never be based solely on material or economic self-interest. A free society allows free decisions based on other factors, including those that run against self-interest. Indeed, such a society can flourish only if these factors include values higher than simply material ones.