Imagine communism without a name!
Repplier proposed that man's newest way of life be called People's Capitalism.
Here' is his step-by-step reasoning
*hich leads to this conclusion.
. Ihe first fact eif life in the' iele'a war
ls that this is a struggle' between communism and capitalism. The Commu-
nists constantly refer tei it as such, and
are not likely to cease. The whole
Pody ol Communist doctrine is based
"" the premise that capitalism is deca-
'"'nt and dying. They constantly main
'ain that capitalism i.s the e'lie'inv they
Consequently it make's no sense
whatever lor our side tei assume that
we word "capitalism" will go away if
Nve ourselves do not use it. This ostrich
aet fools only ourselves.
The term capitalism will not anel
'iiiinot go away anil the' seieine-r we
,"'1' that fact the faster we w ill gel on
'Pin the propaganda fight.
Nor is the answer to coin a word lor
rj1 system, as some' have: "consumer-
,silh lor example. Coined words can
Il anel have been successfully intrn-
,llceel into the' language, provided
jjej'e is sustained advertising behind
I "'"i. lint the taxpayers of America,
"""-suflci ing though they are, could
Y''1 supply a sufficient volume <'l
'Vl'i Using tei popularize a ncwlv-
'"""il word in all the world's laii-
j, -me! even if it could be popularized,
ommunists would taunt thai il
„',s nothing but capitalism in dis
, hy elo sei many of our propaganda
i, lll'i'ts shudder at the word capital-
lv <,(-iiise throughout much of the
(. r'<l it has a most unpleasant odor.
teih '""">' °f the world's peoples, capi-
fu 'S'"|1 has been no bargain. Under it
Shave been acutely miserable,
throughout the- Far East, for ex-
,„'' ''- capitalism has usually meant
\) ''"pleasant form of colonialism.
Po " ''"' l"'"P'(' we're' often ke'pt in
s0 Krty while their country's re-
fe„7Ces we're' systematically exploited.
\-i. §er>eration after generation life
ti|n'. Win anel totally devoid of oppor-
HERE'S THE ANSWER
il, n Europe things were he'tle'r. Rut
Ojhy0() many European countries
,. ,*'t;i]iv,„ 1,.,.. ,„,...,,,. ,, ,.,,,.*.,,,, i,...
1,(11., Ill, ..111 , , i . , i . , i i , v ii,. i,
back that a completely
Hi?^ a 'tw ""'" "ved in great luxun
fi,]| e the bulk of the- people hael piti-
\(illj little. Cartels and other trade-
stf 1 • n,8 Practice's flourished — anil the\
L' answer to this situation is to
Sr)v- "' issue- squarely. Every time the
9gajn Propaganda machine thunders
'') tt'sf capitalism, our obvious cue is
iii'w kinel eil capitalism heis come about
which is neither e-nleinieil nor feudal-
istie. Further, thai this dynamic, new
capitalism i.s already doing things for
its people that under communism
have remained e'mpty promises for
thirt; -five years.
\\ hat elo the Communists say about
capitalism? They say that it exploits
the people'; that it tneike's the- rich
richer anel the poor poorer.
Vet what are the twei miraculous
facts about our exciting American
capitalism (or Canadian capitalism,
lor that matter):
1. That the middle income group
has grown anel swollen until the segments of very poor and very rich have
shrunk almost to the point of extinction.
2. That capital lor expansion eif our
system eeime-s not from a very few rich
bankers but from the people. Nearly
every American either owns life insurance or has money in a savings bank
or belongs tei et pension plan, anil
much of these funds are invested in
industry. Over seven million people
own common stocks; often employees
are company stockholders. Many
unions invest funds in industry. In
silent, the' people are the capitalists —
a new great phenomenon in the world.
In other words, the' chief facts about
our new capitalism are' that the' people
supply the means for expansion of
prosperity and the' people share' the
benefits. Our syste'in i.s truly and accu-
rately People's Capitalism. And ever)
repetition of this phrase describes uni
While il may be true' that "people's"
heis a sort of Russian sound, like "democracy," "freedom" and other words
which we're bequeathed to ns in the
founding documents, the word "people's" has been kidnaped by the Russians. Yet iii) word is more' American.
The U. S. Constitution begins with
"We, the people," and em immortal
and inspired definition of our democracy is Abraham Lincoln's "government of the people, by the people,
and fe>r the people."
OWNERSHIP OF CAPITAL
Sherman Adams, The Assistant to
The President, said in regard tei capitalism:
"While we condemn the system we
seek to thwart we should be mindful
of the increasing benefits eif the new
capitalism we seek to strengthen and
preserve. We have actually achieved
those' things communism empty-hand-
e'ellv promises. We' are literally a
nation of middle eleess. lew of us very
rich, few eif us very poor, most of ns
somewhere in the- middle of the- e-e-ei-
nomic road. The- growth of the middle
income population heis been enor-
mous. The abundance of our land, the
leisure tei e'tijeiv it. anil the' opportunity
to grow intellectually and culturally
are' being shared by more anel more'
Americans. It is ironic that this which
was Marx's dream should have come
about through an evolution of the very
syste'in lie- so deeply reviled.
"Ownership of the e-ipitetl i.s rapid!)
moving into the hands of nieerc and
more Americans. The other day the
Chairman of the President's Council of
Economic Advisers gave me an interesting statistic. Consumer plant and
equipment in the possession eef our
people, in homes, automobiles and
durable household goods, exceeds by
one-third the value of all industrial
plant anel equipment in the nation.
"Because the people supply both the
capita] anil receive the- benefit of our
increased productivity, what has
evolved in America today is truly a
People's Capitalism. The Advertising
(Continued on Page 63)
Assistant to The
Theodore S. Repplier,