Why Academicians do not like Capitalism?

This analysis explores the contradictions inherent in the advocacy of academicians who support public welfare policies while benefiting from the systems they criticize. Academicians often opt for private institutions for their children’s elementary and secondary education, known for superior infrastructure and a competitive environment that nurtures early academic excellence. This ensures their children receive the best possible education, creating an early advantage and establishing a disparity that allows their children to excel in competitive exams, often gateways to prestigious publicly funded higher education institutions in fields like medicine and engineering. A similar contradiction is evident in healthcare, where academicians champion universal healthcare and public hospitals. They advocate for medical services to be free and accessible to all, pushing for state intervention. However, their social class and influence grant them priority in public sector hospitals, while their financial means allow access to superior private sector services, enabling them to benefit from the best of both systems. Furthermore, academicians display a striking contrast in their regulatory advocacy. They are vocal proponents of strict regulatory measures for businesses, politicians, and other groups, arguing that capitalism needs checks and balances. Yet, they demand absolute freedom in their own domains, such as free speech and academic independence with absolutely no accountability. This practice not only entrenches socio-economic disparities but also maintains privileged access that is not available to all. Prominent economists like Prof Milton Friedman and Prof Thomas Sowell argue that capitalism fosters broad-based prosperity, challenging the views of majority of the academicians who benefit from a lack of competition in sectors like education and healthcare. This selective opposition to capitalism suggests a deeper motive of maintaining elitist advantages under the guise of social justice, highlighting a need for consistency between public advocacy and personal choices.