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Politics : Welcome to Slider's Dugout -- Ignore unavailable to you. Want to Upgrade?

To: Horgad who wrote (23105)	1/19/2011 9:57:53 AM
From: Northern Marlin	7 Recommendations Read Replies (1) \| Respond to of 50564

Please provide a description of what the word capitalism means to you. Obviously, we agree that something isn't right with the current situation. However, the problems you describe in your post are examples of corporatism (big business in control of the state), not capitalism. Maybe this quote from Murray Rothbard will be helpful: If we are to keep the term "capitalism" at all, then, we must distinguish between "free-market capitalism" on the one hand, and "state capitalism" on the other. The two are as different as day and night in their nature and consequences. Free-market capitalism is a network of free and voluntary exchanges in which producers work, produce, and exchange their products for the products of others through prices voluntarily arrived at. State capitalism consists of one or more groups making use of the coercive apparatus of the government - the State - to accumulate capital for themselves by expropriating the production of others by force and violence. mises.org Corporatism is another word for "state capitalism" in the quote from Rothbard. Phil @NorthernMarlin