Armchair critics are always quick to point out flaws in someone else's work. They usually have little more than a superficial understanding of actual problems or their practical solutions. Quick with advice but never willing to do any of the work, they are always ready to flaunt moral superiority. They draw on a wealth of theorizing but rarely on real experience. The term "armchairist" describes the sufferers of this malady. I don't claim that it is solely a disease of the left, but surely armchairism is epidemic among all critics of capitalism. Here are a few examples. Health Insurance Oil Company Profits Financial Regulation Private Equity The common thread in these examples of armchairism is a disdain for profits and a religious certainty that profits are a result of ignoring the interests of other people. This is despite the dependence of capitalists on the voluntary choices of their customers. Typically, the armchairists believe they could do it better (no matter what "it" is) but are too busy with more important....
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