capitalism simply means private property ownership + voluntary exchange... pretty difficult to hate on that. Maybe you mean CRONY capitalism. . . when you have a centralized state/coercion involved no wonder things don't work out so well..
capitalism simply means private property ownership + voluntary exchange... pretty difficult to hate on that. Maybe you mean CRONY capitalism. . . when you have a centralized state/coercion involved no wonder things don't work out so well..
no that's not what capitalism is all about nowadays. Capitalism has now far more to do with financial "capital" and how it can manipulate the real productive economy at benefit of the money manipulators who produce nothing of any value
Hmm, now you make sense too since a majority capital these days are pretty much a financial instrument, backed by nothing but confidence - am I right about this? I guess everybody will have different takes on the matter :)
Yes, that's what capitalism "simply" means. But in reality it seems that what starts as simply positive idea turns, sooner or later, into crony capitalism. Concentration of capital is inevitable, followed by concentration of power, etc.
+1 this, I don't think the simple take on such a complex subject adds much, by definition
True that, it's just difficult to write about it precisely while maintaining brevity :)
I've used a blanket statement just because as the way things are going right now, it seems that the free-market has been favouring or leaning towards centralized states / coercion like you've mentioned..