An independent profit motive and unbridled entrepreneurship are pillars of a free society. These two concepts have provided the foundation of our open competitive market for more than 200 years. 

Unfortunately, liberals often use the constraints of overbearing taxation systems to regulate and even control an enterprise — even an entire industry. The undeniable point is that a free market system is a necessity for the creation of a bountiful capitalist wealth base from which all leaders can tap into for their progressive programs. Students are often oblivious to this critical link to capitalism.

As a practicing certified public accountant for more than four decades and a professor of accounting and taxation for almost as long, it is challenging to convey the principles of accounting and the tax law without advocating outside the context of capitalism. These disciplines have their roots in a free market-based system. Given events of the past few years, I increasingly see students leaning towards a socialist ideology. 

Budding accounting and business students often ask probing questions about what they believe to be “democratic socialism,” as if a definition exists. I often get queries about the Bernie Sanders free tuition proposal. Other questions revolve around socialist ideas such as: Why don’t we have a guaranteed income? Why is the minimum wage not higher?  Why do some government leaders actively pursue policies that propose cuts to Medicare, Medicaid or social security? These questions inevitably precipitate into class discussions on the government printing of money, the national debt and cybercurrency. 

Many students at large public and private universities work part time and their first encounter with the government is when they receive their first paychecks. Tax withholding for FICA and Medicare often get questioned. Consequently, the concept of government taxation begins to become a reality and the students’ minds are broadened. This experience, combined with productive and proactive discussions in their university courses, can help student understand the contrasts between fiscal responsibility, or conservativism – and the potential pitfalls of what they believe to be “democratic socialism.”

Parents often express their anxiety over the radical indoctrination of their children by left leaning professors. We, as faculty, should reassure them that, we provide an academic environment for open discourse and that all perspectives are welcome. Students are exposed to a wide spectrum of scholastic and political views at their university. However, ultimately on their own, they should be educated to weigh the pros and cons of multiple economic systems – including the advantages of our own historically competitive free market system. 

Too many universities get a bad reputation for the radical ideology of their students.  Fortunately, in 33 years of teaching, I have not seen much of this kind of indoctrination at my university and around the country. I have been an advisor for a national accounting honor society for nearly 20 years and have experienced the mind-set of countless students both locally and at national conferences. It is safe to say that only a minority of high-profile universities delight in creating a unilateral political learning environment, and there are even fewer radical professors whose writings are magnified by the mainstream media. 

On our campus, we view our responsibility as providing an opportunity for open debate.  While all political points of view are welcome, offensive behavior is not tolerated.  Faculty and students should not be censored for their beliefs.  An important advantage of a free and open society is academic freedom – and, occasionally, universities and the press need reminding of this.