What “Capitalism” Really Means
Capitalism is characterized by the private ownership of capital, coming from Lockean homesteading principles, and not from state coercion and force.
Capitalism is characterized by the private ownership of capital, coming from Lockean homesteading principles, and not from state coercion and force.
Sponsored by Dan Johnson and Randee Laskewitz.
Ask most people why our economy is advanced, and they will likely will answer, “Technology.” Yet, technical knowledge is meaningless without capital development, and capital development is impossible without real savings.
Many proponents of free markets have tried to cast aside the name “capitalism” as a descriptor of the market system. They should take caution before doing so.