Conflating Corporatism with Capitalism
Feb.17, 2010 in
barack obama
http://www.cato-unbound.org/2008/11/...onflation-now/
This is an excellent essay by Roderick Long on the mistake of conflating the current economic and political system we have in America with free-market capitalism.
Thoughts?
This is an excellent essay by Roderick Long on the mistake of conflating the current economic and political system we have in America with free-market capitalism.
Thoughts?
May 11th, 2010 at 2:00 pm
The real capitalism is not the abstract ideal between your ears that fits into your ideological prescriptions of how society or reality ought to be. (”Real” - scholastic philosophic term meaning independent of the opinion of any one mind or group of minds).
The real capitalism is the human institution out in the real world spanning centuries and continents, that has created pretty much every scrap of value you have ever seen, and raised billions out of grinding poverty.
And no, it didn’t need to fit your prescriptions to do so. And it did so. It stands on its actual historical accomplishments and does not require the additional bonus of your little trumpet. And if you blow raspberries instead, it doesn’t care, and neither do I.
The actual history of finance capitalism is the history of the rise and properity of the corporate form. And no, they have never been entirely divorced from or opposed to government, in the way modern ideologues wish they were.
The current economic system in the US is actual capitalism. And it isn’t broken, doesn’t need wrecking, and doesn’t need your approval. Can it use some reforms around the edges, sure. Are some of its practical compromises less than optimal as a matter of economic allocation or perfected justice, sure. Does any of that make your idealizations more real than its massive reality, no. Or make it anything but capitalism, no.
FWIW…
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