I think you are too harsh on our friend and the academia. I think what actually happens is that at Uni we learn about macro and micro economics. In Macro we do learn about Kyenes and Friedman etc etc, but when we come out in the real world and work in industry the macro economics gets pushed in the back of the mind. In industry its all about micro.
And of course, once out of Uni and working, its all about accumulating wealth. And to a lot of people once you have wealth, you look at life and the world with different eyes. Hence you will get statements like "We were all socialists and then we grew up etc etc".
The disappointing thing is that these people whilst being true to the Micro economics prostitute what they learned about Macro Economics. Or deliberately choose to believe only one branch of it. Free market with little government intervention. Anything else is Socialism or Communism.
If these people remembered their Macro Economics they would realise that most of the things they support is in fact anti-capitalist. Hence why I threw the challenge to our learned friend. Define the one definition that identifies the difference between a capitalist economy and a socialist one. Anybody who has sydied economics would have learned that very early in their studies.
