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Capitalism Goes to the Movies

I love a good movie. My husband thinks I'm a bit obsessed with the cinema, but I feel that, besides escaping everyday life for a couple of hours, you can also learn a lot about people and the human experience from watching well-crafted stories.


Last week, I mentioned several films that were related to the topic of prisons for profit. With the Academy Awards coming up this Sunday, I thought I'd continue with a few more movie references. This time, I'd like to compare some nominees or award winners from the past that have a positive view of capitalism with those that don't.


Generally, it's easier to find films that are critical of capitalism. Since we often like to identify with the little guy (the worker) who ends up beating the giant (the corporation) against all odds, that result shouldn't surprise anyone. Exploitative capitalism has been criticized by Hollywood since its beginning, building on the 19th-century tradition of social commentators like Charles Dickens, Mark Twain, and Leo Tolstoy. There's not enough room for all of them, but here's a small selection of standouts that masterfully show the negative and positive sides of capitalism:


  • Modern Times (1936): A silent film featuring the iconic Charlie Chaplin, this classic work is not just visually engaging; it's a profound commentary on the societal effects of industrialization. Set during the Great Depression, the film shows the struggles of workers through the eyes of Chaplin's character, the Tramp.


    The film highlights the conformity and monotony created by factory mass production, as well as the negative effects of making efficiency more important than workers' well-being. Modern Times explores themes like poverty, unemployment, and the search for dignity during economic hardship. Though almost 100 years old (and the only non-nominated selection in this post), Modern Times is still relevant because of its focus on the struggles and triumphs of people during times of rapidly changing technology.


Image Credit: Santa Barbara International Film Festival


  • Norma Rae (1979):  Another factory-focused piece, this film earned Sally Fields the Oscar for best actress. Set in a small Southern town, the story centers around Norma Rae Webster and the struggles that industrial workers faced during the 1970s. Norma Rae and her fellow textile mill employees endure grueling work conditions, long hours, and low wages.


    As the plot unfolds, Norma Rae transforms from a passive worker into an outspoken leader in the fight for labor rights, showcasing her determination and resilience. Through Norma Rae's efforts to unionize her workplace, the film shows the positive impact that organized labor can have on achieving fair treatment and better working conditions.


  • Wall Street (1987): Directed by the renowned filmmaker Oliver Stone, Wall Street takes a hard look at the world of big finance and the pervasive culture of corporate greed that characterized the 1980s. The story revolves in part around the charming but ruthless stockbroker Gordon Gekko, who embodies the relentless pursuit of wealth and power. His famous mantra, "Greed is good," summarizes the film's view of high-stakes finance. (In later interviews, Michael Douglas has stated he regrets his role in helping ignite a "greed is good" ethic among some people.)


    Gekko's young protégé, Bud Fox, gets caught up in lies and moral compromise as he tries to navigate this murky world. Bud's journey not only highlights the unbridled allure of wealth but is also a cautionary tale about the moral dilemmas faced by people pursuing success. For his portrayal of Gordon Gekko, Michael Douglas won the Academy Award for best actor, and Wall Street has taken its place in film history as the standout socio-economic commentary of its time.


Image Credit: The Movie Buff


  • There Will Be Blood (2007): This film is a powerful tale about the ambition and greed of a ruthless turn-of-the-century oilman named Daniel Plainview, portrayed masterfully by Daniel Day-Lewis, who won the Oscar for best actor. The film chronicles Plainview's transition from humble silver miner to California oil magnet through his determined pursuit of wealth and success, often at the expense of those around him. Plainview's relationships are filled with tension and betrayal, highlighting the personal sacrifices he makes in his quest for power.


    The cinematography, which also won an Oscar, complements the film's themes, emphasizing the conflict between human ambition and the environment. Ultimately, There Will Be Blood stands as a negative portrayal of the unbridled pursuit of wealth, revealing the darker side of the quest for prosperity and the damaging lengths to which people will go to achieve their goals.


  • The Big Short (2015): This Oscar winner for best adapted screenplay dives into the complicated world of mortgage-backed securities, subprime mortgages, and the recklessness of banks and institutions that led to the 2007-08 financial crisis. The story follows a hedge fund manager, a quirky investor, and a team of analysts who discover the hidden yet impending economic disaster created by risky loans and dubious lending practices. The film uses a unique storytelling style, often breaking the fourth wall and featuring celebrity cameos to explain tricky financial concepts.


    The Big Short explores the moral and ethical dilemmas the characters face as they make money off the coming crash, raising questions about responsibility and the fallout of greed. The movie serves as a warning, showing how a lack of oversight and accountability can lead to disastrous outcomes for both the global economy and ordinary people.


So much for our negative portrayals on capitalism. Let's turn now to a few films that portrayal its successes:


  • Jerry Maguire (1996): This film starts off with Jerry, a successful sports agent, experiencing a moral crisis after realizing that his industry cares only about profit and not the well-being of athletes he represents. This epiphany leads him to write a mission statement, which he circulates among his coworkers, advocating for a more personal and ethical approach to sports management.


    As a result of this new outlook, Jerry finds himself fired from his high-powered agency job, leaving him to navigate the system on his own. He ends up with a single client, played by Cuba Gooding Jr, who won an Oscar for best supporting actor. Through persistence, loyalty, and the support of his assistant, Jerry beats the odds and maintains his success as an agent. Jerry Maguire resonates with audiences because of its message about staying true to the best version of yourself.


Image Credit: The Georgetown Voice


  • Joy (2015): Entrepreneur Joy Mangano's journey from humble beginnings to successful inventor was the inspiration for this movie. The story details Joy's struggles with her dysfunctional family, including her demanding mother, her ex-husband, and her two children. Despite the obstacles she faces, Joy's resilience and will power shine through. The film portrays her determined pursuit of her dreams, which finally leads to the creation of her now famous Miracle Mop.


    At its core, Joy is a story about empowerment, resilience, and the pursuit of one's passions. It encourages viewers to embrace their creativity and not be afraid of failure, as each setback can be a stepping stone towards success. The film serves as a reminder that with hard work, dedication, and a little bit of ingenuity, anyone can overcome their circumstances and achieve their dreams. Jennifer Lawrence, who portrayed Joy, was nominated for best actress in this role.


  • The Pursuit of Happyness (2006): An incredible true story, The Pursuit of Happyness details the daunting challenges of a man named Chris Garner as he tries to create a better life for himself and his young son. Chris is a struggling salesman who invests his life savings in portable bone density scanners, hoping to sell them to doctors. When the product fails to sell, Chris finds himself battling financial ruin and homelessness.


    Through a chance encounter, Chris secures an unpaid internship at a prestigious brokerage firm, where he must compete against other interns for a full-time position. Though hardships mount, Chris remains focused on his goal of achieving financial stability and a better life for himself and his son. The Pursuit of Happyness ultimately serves as an inspiring reminder that despite life's hardships, determination and hard work can lead to success. Will Smith was nominated for best actor for his authentic and touching portrayal.


  • The Blind Side (2009) This film was nominated for best picture, and Sandra Bullock received the Oscar for best actress. While the movie portrays the remarkable true story of Michael Oher, it is the Tuohy family that provides the lesson for capitalism. The Tuohys, who have made their fortune through investments in fast food restaurants, have not allowed their wealth to overcome their compassion for those in need. This affluent family invites Michael, who is homeless, to stay with them and gives him not only a place to live but a family to support him.


    Through their ability to provide him with the help he needs, Michael is able to reach his potential, both in the classroom and on the field. This story shows the ability of money to do tremendous good in the hands of people who use it to bless the lives of others. The Blind Side is a powerful narrative about resilience, the human spirit, and the profound changes that can occur when individuals choose to care for one another.


Image Credit: Entertainment Weekly


  • Chef (2014): The film Chef portrays the transformation of Carl Casper, a talented chef who finds himself at a crossroads in his career. After facing significant challenges in a prestigious restaurant setting, Carl embarks on a journey of self-discovery, which is not only about food but also about reconnecting with his own values and aspirations. He chooses to leave behind the constraints of traditional dining and instead embraces the freedom of food trucks. Carl's journey is supported by his loyal friend and sous-chef, Martin, as well as his young son, Percy.


    Their involvement illustrates the importance of collaboration and support in achieving one's goals. Ultimately, Chef culminates in a realization that success is not solely measured by financial gain but also by personal fulfillment and happiness. Carl's journey leads him to a place where he can find joy in his work, nurture his relationships, and share his culinary creations with the world.


As you look over these two groups of movies, you can see a common theme in each set. For the first group, capitalism with a profit maximization focus leads to the exploitation and unhappiness of the people involved. In the second group, character qualities like innovation and determination can lead to great success and happiness, including enough profit, when coupled with other qualities like compassion, loyalty, and meaningful relationships.


If there are any of these fabulous films that you haven't yet seen, I encourage you to take some time and watch them in the near future. When you do, the contrast of capitalism based on profit maximization vs profit optimization won't be hard to see.


Fix Capitalism. Fix the American Dream.


Our vision is to benefit society by transforming capitalism's current core ethic of 'maximize shareholder value' to the better core ethic of 'optimize mutual value.' We achieve our vision by impacting learning, opinion, beliefs, and policy. Institute for Better Capitalism, Inc.




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