[dictionary][essays][people][library][quotes]

BlackCrayon.com : library : dictionary : 'economicCapitalism'


ECONOMIC CAPITALISM

Economic capitalism is a free market in privately held property titles, including titles for "infrastructural capital" (technology) and "natural capital" (land).

It is often called 'laissez-faire capitalism' or sometimes 'pure capitalism' or even 'true capitalism' by those who want to tie the economic concept back to the ethical position of ideological capitalism.

(Contrast with POLITICAL CAPITALISM.)

bkMarcus, Reluctant Capitalist

[bk]

Your property is that which you control the use of. If most things are controlled by individuals, individually or in voluntary association, a society is capitalist. If such control is spread fairly evenly among a large number of people, the society approximates competitive free enterprise -- better than ours does. If its members call it socialist, why should I object?

Socialism is dead. Long live socialism.

David Friedman, The Machinery of Freedom: Guide to a Radical Capitalism

[friedman]

If commercial activity were unregulated and absolutely unsubsidized, it could depend upon only one factor for success -- pleasing customers.

Karl Hess, "The Death of Politics", Playboy, March 1969

[karlHess]

The market economy is the social system of the division of labor under private ownership of the means of production. Everybody acts on his own behalf; but everybody's actions aim at the satisfaction of other people's needs as well as at the satisfaction of his own. Everybody in acting serves his fellow citizens. Everybody, on the other hand, is served by his fellow citizens. Everybody is both a means and an end in himself, an ultimate end for himself and a means to other people in their endeavors to attain their own ends.

Ludwig von Mises, Human Action

[mises]


BlackCrayon.com : library : dictionary

[dictionary][essays][people][library][quotes]