Friday, January 27, 2012

Capitalism We Have Not

Too many shadows, whispering voices
Faces on posters, too many choices
If, when, why, what?
How much have you got?
--Pet Shop Boys

Nice rejoinder to escalating claims that our current economic system is 'capitalism.' The author also observes that, contrary to popular belief, capitalism is not based on 'rugged individualism' in dog-eat-dog fashion. Instead, capitalism is grounded in voluntary social cooperation.

What we have now is a system increasingly driven by political force.

1 comment:

dgeorge12358 said...

The capitalistic social order, therefore, is an economic democracy in the strictest sense of the word. In the last analysis, all decisions are dependent on the will of the people as consumers. Thus, whenever there is a conflict between the consumers views and those of the business managers, market pressures assure that the views of the consumers win out eventually.
~Ludwig Mises