Professional Wrestling: A Testament to Capitalism

Sunday night, professional wrestling’s prodigal son returned home. At the Survivor Series pay-per-view event in Chicago, Windy City native CM Punk walked down the ramp, “Cult of Personality” by Living Colour blaring over the Allstate Arena’s sound system. Alongside Punk’s (real name: Phil Brooks) theme music, viewers could hear the sound of money filling Vince McMahon’s coffers.

The straight-edge superstar who calls himself the “Best in the World” (and was my favorite wrestler — and all my friends’ — back when I was 12 and watched professional wrestling) left World Wrestling Entertainment (WWE) in 2014 in what can only be described as an acrimonious divorce. Often blurring the lines between kayfabe and shoot (scripted storyline and reality), Punk was a fan favorite for his antiestablishment, anti-corporate persona that at the very least felt drawn from his real-life enmity toward McMahon and his deputy and son-in-law, Paul “Triple H” Levesque; he ultimately walked out on the company the day after what would seem like the last match of his WWE career, telling McMahon and Levesque that he was “going home.” 

WWE suspended Punk for two months after his walkout and, according to him, refused him his unpaid royalties until his firing on his wedding day in June 2014. In the wake of his termination, he said he’d never work for WWE again, a feeling that appeared mutual.

His career since has not gone particularly smoothly. Following a UFC stint that could charitably be described as disastrous, he joined All Elite Wrestling (AEW), for a time the most formidable competition McMahon’s operation had faced since the Monday Night Wars with World Championship Wrestling (WCW) in the late 1990s. His feuding with management continued. He criticized AEW at press conferences and reportedly nearly came to blows with founder and co-owner Tony Khan shortly after a backstage fight with a fellow wrestler, which led to his firing only two years after joining the now-flailing operation.

Nevertheless, despite the bad blood between Punk and WWE’s bigwigs — and the trouble he’s gotten himself into in the nine years since his departure — one of the biggest draws in the history of professional wrestling’s biggest company is back. With WWE’s television ratings averaging all-time lows since its flagship Monday Night Raw program launched in 1993, Levesque, who has taken over for McMahon as the organization’s effective leader, is clearly prioritizing the windfall Punk promises to bring over locker-room stability. Take WWE’s current marquee superstar, Seth Rollins, for instance. While his reaction to Punk’s return Sunday night was clearly meant to set up a future storyline, there is legitimate bad blood between the two. During a 2020 podcast appearance, Rollins called Punk selfish and said he’s “just not a fan.” Before his comeback, WWE sources acknowledged the strained relationship, saying Punk would have to bury the hatchet with Rollins and other personalities in order to make his triumphant return reality. Given his history of poor behavior — Khan said he legitimately feared for his safety after Punk lunged at him — it’s a safe bet to assume things may not end well this time around.

All the better for the fans, and all the better for the company’s survival. Take a look at the audience’s reaction to Punk’s return, and know all is right in the world — capitalism always wins.

This post was inspired by a conversation with the American Enterprise Institute’s Guy Denton, with whom I attended a showing of WWE Monday Night Raw a few weeks ago.