New York – A recent opinion piece by Wall Street Journal editorialist Matthew Hennessey argues that reports of socialism's demise have been "slightly exaggerated," contending that "bad ideas never die" but rather enter "extended hibernation." Hennessey's commentary, published around July 1, 2025, suggests that these ideas await "intellectual spelunkers of the future to stumble onto them," reflecting a persistent concern about the resurgence of socialist ideologies.
The article, titled "Capitalism Needs Champions," was notably spurred by the victory of avowed socialist Zohran Mamdani in a recent Democratic mayoral primary in New York. Hennessey posits that such electoral outcomes serve as a reminder that capitalism requires "able defenders" in the face of renewed interest in socialist concepts. He suggests that the current landscape indicates a need for proponents of free markets to more effectively articulate their case.
Hennessey, known for his conservative viewpoints and defense of free-market principles, frequently addresses the appeal of socialist ideas, particularly among younger demographics. His work often highlights what he perceives as a growing disconnect between the historical failures of socialist systems and their contemporary romanticization. He argues that this resurgence is not due to new insights but a rediscovery of previously discredited theories.
The Wall Street Journal's opinion section, where Hennessey serves as associate editorial-page features editor, frequently publishes pieces that critically examine socialist proposals and advocate for capitalist solutions. This latest commentary reinforces the publication's stance on the ongoing ideological debate surrounding economic systems. The piece underscores a broader discussion within political and economic circles regarding the long-term viability and societal impact of socialist policies versus market-based approaches.
Hennessey's perspective suggests that the intellectual battle between capitalism and socialism is cyclical, with socialist ideas periodically re-emerging into public discourse. His call for "champions" implies a strategic need for clear and compelling arguments to counter these recurring trends. The article serves as a warning to those who believe that the debate over economic systems has been settled, emphasizing the continuous need for vigilance and advocacy.