Wednesday, 16 November 2011

"Capitalism" As Anti-Concept

Government "favouritism" toward business is a political contingency, i.e. a given business may or may not be treated "favourably" or "unfavourably" relative to some other individual or set of individuals (or another business) depending on whether there are operant political interests involved and what these political interests are.

That criticism aside, I think Long makes a reasonable case for insisting on a distinction between "capitalism" and "free-market".

However, it is important to remember that this distinction will be lost on two kinds of people: those whose minds tend to naturally fixate upon a narrow conception of consequences and those who are simply opposed to the basic principles of a free society to begin with.

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