In the contemporary world of deepening inequality and environmental degradation, capitalism continues to hold a powerful ideological grip on much of the global population. Yet the irony is that many of its staunchest defenders are not the elites or the true beneficiaries of the system, but the very workers and middle-class individuals whose lives it exploits and controls. These defenders are not capitalists themselves; they are, in fact, cogs in the machinery of a system they imagine will eventually reward their loyalty. This illusion is strikingly captured in a quote often misattributed to John Steinbeck: “Socialism never took root in America because the poor see themselves not as an exploited proletariat but as temporarily embarrassed millionaires.”[1]
This phenomenon, which we might call the temporarily embarrassed millionaire syndrome, reflects not only a profound misunderstanding of capitalism but also the effectiveness of the system in controlling its participants through hope and aspiration. Capitalism promises upward mobility, convincing even those at the bottom of the economic ladder that their current misfortunes are temporary. But as Karl Marx and Friedrich Engels observed, this is a system of exploitation that not only alienates workers but effectively destroys them.
Survivorship Bias and the Myth of the “Rising Tide”
Capitalism’s defenders frequently invoke the idea that “a rising tide lifts all boats.” The metaphor suggests that when capitalism prospers, everyone benefits. However, this vision of progress masks the reality of capitalism’s winners and losers. As economist David Harvey has pointed out, capitalism is not a neutral system of wealth creation—it is a system of accumulation by dispossession, constantly expropriating wealth from others, often through privatisation and the commodification of public goods.[2] The rising tide does lift some boats, but it simultaneously leaves others stranded, or worse, sinking.
Survivorship bias is essential to understanding how capitalism maintains its legitimacy. The success stories—the wealthy entrepreneurs, the individuals who “made it”—are lauded as proof that the system works. But the vast numbers of people left behind, those who toil in exploitative conditions or who die from poverty and neglect, are erased from the narrative. In Engels’ terms, these are victims of social murder—individuals who die prematurely not by direct violence, but through the structural forces of deprivation imposed by capitalism.[3] Their deaths are rendered invisible, falling out of the metrics of rising living standards and growth.
“The system’s victims are not accidental casualties but inevitable outcomes of capitalism’s relentless focus on profit over life.”
Friedrich Engels, The Condition of the Working Class in England
Engels’ critique of industrial capitalism is as relevant today as it was in the 19th century. The modern mechanisms of exploitation may be more complex, but they are no less deadly. In a late capitalist world, the poor and marginalised are still being “murdered” through the structural violence of inadequate healthcare, poor working conditions, and environmental degradation. The millions left out of the capitalist success story are not anomalies but integral to the system’s operation.
Alienation and the Tragedy of Defending the System
Marx’s theory of alienation provides another crucial lens through which to understand why capitalism’s defenders often remain blind to their own exploitation. Under capitalism, workers are alienated from the products of their labour, the process of production, their own humanity, and from each other.[4] The worker becomes a cog in a machine, detached from the value they create, and unable to control their working life. Yet, even in this state of alienation, many still defend the system, believing that their hard work will eventually lead them to wealth and freedom.
This defence of capitalism, often articulated by those whose lives it degrades, reflects Antonio Gramsci’s concept of cultural hegemony. Gramsci argued that the ruling class maintains power not just through economic domination, but by shaping the cultural and ideological landscape.[5] Capitalism’s defenders are, in part, products of this hegemony, believing in the very values—individualism, competition, the ‘American Dream’—that bind them to a system of exploitation.
“The most effective form of domination is one that is not felt as domination, but rather as a form of freedom.”
Antonio Gramsci, Selections from the Prison Notebooks
This illusion of freedom under capitalism is deepened by what Herbert Marcuse calls repressive desublimation. Capitalism offers false freedoms in the form of consumer choice and superficial pleasures, giving individuals the illusion that they are exercising autonomy, even as the system remains unchallenged.[6] Workers may identify themselves in their commodities—luxury goods, tech gadgets, cars—but these objects only serve to reinforce their alienation and dependence on the capitalist system. The temporarily embarrassed millionaire clings to the dream of eventual success, all the while contributing to a system that offers only superficial rewards in return.
Social Murder and the Structural Violence of Late Capitalism
The notion of social murder offers a stark framework for understanding capitalism’s indirect, yet pervasive, violence. As Engels explained, this form of violence is not inflicted through overt means, but through the systematic neglect of basic human needs. Whether it’s the millions who die due to lack of access to healthcare or the global poor displaced by climate-induced disasters, capitalism perpetuates a form of structural violence that is invisible to those who benefit from the system’s success.[7]
The American political theorist Naomi Klein extends this analysis through her concept of disaster capitalism, where crises are exploited for profit. Whether it’s natural disasters or financial crises, capitalism uses these events as opportunities to privatise public resources, dismantle social safety nets, and deepen inequality.[8] The victims of these disasters—often the poor and vulnerable—are, in Engels’ terms, socially murdered by a system that thrives on their dispossession.
“Extreme violence has a way of preventing us from seeing the interests it serves.”
Naomi Klein, Shock Doctrine
The Temporarily Embarrassed Millionaire as a Tool of Control
The illusion that one’s current position is only temporary—that any individual can rise to capitalist wealth if they work hard enough—is central to maintaining the capitalist system. This aspiration prevents individuals from seeing their exploitation for what it is. They do not identify as part of an exploited class but instead believe they are merely waiting for their turn at wealth. Zygmunt Bauman’s concept of liquid modernity—the perpetual state of instability and insecurity produced by late capitalism—helps explain this phenomenon.[9] Individuals are constantly told that their position is fluid, changeable, and that their big break is just around the corner.
But for most, this “big break” never comes. The dream of becoming a millionaire is a powerful form of social control, one that keeps individuals invested in a system that benefits only a small fraction of its participants. As Marx reminds us, “the worker becomes all the poorer the more wealth he produces, the more his production increases in power and range.”[10] Capitalism does not reward the many; it exploits the many for the benefit of the few.
Conclusion: Facing the Irony and Imagining a Post-Capitalist Future
The greatest irony of capitalism is that those who defend it most fervently are often those who will never realise its promises. These are not the capitalists of the system, but its workers, its underclass, and its exploited. They see themselves not as oppressed, but as temporarily embarrassed millionaires—an illusion that keeps them bound to a system that offers them no real future.
In this light, the true success of capitalism is not in its creation of wealth, but in its ability to mask the conditions of exploitation, alienation, and social murder that underpin it. The path forward requires a dismantling of these illusions and a recognition that the system’s failures are not accidental but integral to its design.
“Capitalism’s greatest trick is convincing the exploited that their suffering is temporary, that their turn at wealth is inevitable.”
Naomi Klein, The Shock Doctrine
Only by facing these uncomfortable truths can we begin to imagine a future beyond the constraints of capitalist ideology, a world where human flourishing is no longer measured by wealth accumulation but by the collective well-being of all.
Endnotes:
[1]: Misattributed to John Steinbeck, this quote encapsulates a critical observation about American capitalism’s appeal to aspiration rather than solidarity.
[2]: David Harvey, The New Imperialism (Oxford University Press, 2005), pp. 145-147.
[3]: Friedrich Engels, The Condition of the Working Class in England (Oxford University Press, 1845), p. 112.
[4]: Karl Marx, Economic and Philosophic Manuscripts of 1844 (Progress Publishers, 1959).
[5]: Antonio Gramsci, Selections from the Prison Notebooks (International Publishers, 1971), p. 12.
[6]: Herbert Marcuse, One-Dimensional Man (Beacon Press, 1964), p. 10.
[7]: Friedrich Engels, The Condition of the Working Class in England, p. 114.
[8]: Naomi Klein, The Shock Doctrine: The Rise of Disaster Capitalism (Picador, 2007), pp. 9-10.
[9]: Zygmunt Bauman, Liquid Modernity (Polity, 2000), p. 14.
[10]: Karl Marx, Economic and Philosophic Manuscripts of 1844, p. 68.
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