bardolph
King
- Joined
- Feb 5, 2007
- Messages
- 739
Just to set the record straight: Capitalism isn't synonymous with "free market trade."
Capitalism is based on the principle of PRIVATE OWNERSHIP of the MEANS OF PRODUCTION. Originally, this meant land. It has now been extended to include abstract concepts such as "intellectual property".
This implies that a common property (such as the earth) must be siezed and "owned" by a private party, who can then lend out that property to people who do not own it, for the sake of making a profit. Capitalism also implies access to a strong-arm system (such as law enforcement, or a standing army) whose primary job it is to ensure that these properties do not change hands without permission from the current "owner," and to ensure that no one profits from using such property without the "owner's" explicit permission.
That's Capitalism.
Under Capitalism, the vast majority of citizens own ZERO capital, and those who think they own capital because they "own" a mortgage or car payment are just fooling themselves. Still others who think they own capital because they have weathered a 30-year mortgage or a 5-year car loan are still just fooling themselves, since zoning laws and lack of mineral/drilling rights often prevent homeowners from ever converting their lots into actual profit-making enterprises.
"Trade" is an entirely different concept than Capitalism, and free markets can exist with or without Capitalism.
Capitalism is based on the principle of PRIVATE OWNERSHIP of the MEANS OF PRODUCTION. Originally, this meant land. It has now been extended to include abstract concepts such as "intellectual property".
This implies that a common property (such as the earth) must be siezed and "owned" by a private party, who can then lend out that property to people who do not own it, for the sake of making a profit. Capitalism also implies access to a strong-arm system (such as law enforcement, or a standing army) whose primary job it is to ensure that these properties do not change hands without permission from the current "owner," and to ensure that no one profits from using such property without the "owner's" explicit permission.
That's Capitalism.
Under Capitalism, the vast majority of citizens own ZERO capital, and those who think they own capital because they "own" a mortgage or car payment are just fooling themselves. Still others who think they own capital because they have weathered a 30-year mortgage or a 5-year car loan are still just fooling themselves, since zoning laws and lack of mineral/drilling rights often prevent homeowners from ever converting their lots into actual profit-making enterprises.
"Trade" is an entirely different concept than Capitalism, and free markets can exist with or without Capitalism.