Capitalism

Generally speaking, capitalism is an economic system that is based on private ownership of the means of production. Some people use the term capitalist as referring to the free market. Other times it is used to refer to an economic system like we see in the United States today. The economic system of the United States is far from free market so we should be careful with how we use our terms.

The current economic system in the United States features a symbiotic relationship between big business and government. Because of political privilege, a relatively small number of people control the investable wealth and the means of production. Some may consider aspects of the economy today "capitalist", but it is certainly nowhere close to a free market. A genuinely freed market would look radically different than what we see today.

Suggested Resources

The Anti-Capitalists, Barbarians at the Gates by Larry Sechrest
The Importance of Capital Theory by Robert P. Murphy
Has Capitalism Failed? by Ron Paul
Why Do Capitalists Earn Interest Income by Robert P. Murphy
Anarcho-Capitalism: An Annotated Bibliography by Hans-Hermann Hoppe
Capitalism: Yes and No by Clarence B. Carson
Is Capitalism Something Good? by Sheldon Richman
Corporations versus the Market; or, Whip Conflation Now by Roderick T. Long
Capitalism by Ludwig von Mises

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