The New Left: Envy, Resentment and Hate

Bernie Sanders is angry. Who is he angry at? Rich people. Why rich people? That’s not clear.

At Liberty University, Sanders complained about a small number of people who have “huge yachts, and jet planes and tens of billions” while others “are struggling to feed their families.” In Madison, Wisconsin, Sanders called for a “political revolution against greed.”

So what’s the connection between people who have “tens of billions” and people who are “struggling to feed their families”? For the most part it’s a positive one. In a capitalist system, people get rich by meeting other people’s needs. Because some people are rich, other people find it easier to feed their families.

Take the world’s richest man, Bill Gates. When I was a student at Columbia in the 1970s, I remember a friend showing me a fantastic handheld device. It could add, subtract, divide and multiply. And it only cost $400. Today, I can sit in bed with my lap top, which in 1970 dollars cost less than $400. I can buy and sell goods on eBay, conduct personal banking, purchase airline tickets, book hotel rooms and even work the New York Times crossword puzzle — in large part because of Bill Gates.

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