Tuesday, December 31, 2013

Markets NOT Capitalism?


ConnGator said...

This make sense, in that "capitalism" is being increasingly identified as crony capitalism. Libertarians should be pro-market, not pro-business.

Tom said...

The book, Markets Not Capitalism, makes the claim that the distinction is not just semantic. I think I see their point. Capitalism is the economic system many libertarians expect will develop when markets are freed. But our expection is not part of our principles. It could turn out that, when people get their freedom, they perfer something more like Syndicalism. If I believed that, I would still advocate for freedom and I would still expect the system to work far better than the current practice is western countries.

I have some reasons for my expectation, but that's beside the point. Freedom is what I believe in and if it comes with lumps, OK.

/ Kudos to Stossel for exposing this issue.