Galt's Gulch

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  • Posted by straightlinelogic 10 years, 9 months ago
    What's worse that this article is that so many purported defenders of liberty treat "capitalism" as a dirty word. Capitalism--production, voluntary exchange, value-for-value--is the economics of free people.
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  • Posted by Robbie53024 10 years, 9 months ago
    From the article: "Groups like the American Legislative Exchange Council allow capitalists to write laws behind closed doors, then wine and dine state lawmakers to pass those laws in exchange for future campaign contributions from capitalists."

    And the unions and trial lawyers don't?
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  • Posted by $ Maphesdus 10 years, 9 months ago
    How about this: instead of making capitalism into a dirty word, let's just stop using the word entirely and replace it with the term "free market."
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    • Posted by LetsShrug 10 years, 9 months ago
      Why change the language for a bunch of whiny ass babies? No.
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      • Posted by Robbie53024 10 years, 9 months ago
        Well, to be more accurate would be a good reason.
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        • Posted by LetsShrug 10 years, 9 months ago
          What is inaccurate about the word "capitalism"?
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          • Posted by gblaze47 10 years, 9 months ago
            I found this from a blog, so I'm quoting but it's perfect,

            "In modern society the term ‘Capitalism’ is used imprecisely and inaccurately. Many scholars suggest that the term ‘Capitalism’ and its related term ‘Capitalist,’ was first derived in the English vernacular from a translation of the pejorative term used by Karl Marx in the mid to late nineteenth century to describe the class of men he called the elite “bourgeois” society who owned and controlled “society’s capital resources.”

            To students of the Founders, the philosophy of capitalism is the only moral system that guarantees to man his individual liberty, and therefore the only valid political, economic, and social standard for pursing prosperity and peace.”
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          • Posted by Robbie53024 10 years, 9 months ago
            In simple terms, Capitalism is defined as an economic environment comprising basically of two sets of people, owners and workers. An essential feature of this kind of economic system is private ownership. The owner has full control of the means of production and profits are due to him. Production is determined by the free market, as well as the prices for goods and services, plus distribution.

            A free market is one that is not regulated by government, but rather driven by demand and supply. The free market theory contends that an ideal free market is where entities are exchanged voluntarily after a seller and buyer mutually agree on a price, without any intervention from external influences.
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