Are Libertarians Confused About Capitalism?Submitted by Marc Clair on Tue, 11/12/2013 - 15:35
This is what is suggested by Salon.com’s Charles Davis in a recent article entitled “Libertarians are very confused about capitalism”. Davis flashes his collectivist creds right out of the gate with the headline, by grouping all “libertarians” into one collective mass with a singular mind. Libertarians are individuals, many of which may indeed be “confused” about capitalism, while others may not be. But let’s start by looking at just how confused Davis himself is.
“There is no evidence that capitalism exists today”, begins the article with a quote from Ron Paul. Dr. Paul is largely correct in this analysis – much of the “free world” is run in sort of a neo-fascist system, not true capitalism.
So how does Davis view capitalism?
If one defines capitalism as a system designed by and for the interests of those who hold capital (what it is), capitalism is what the United States has today. It is a system based not on principles of freedom and liberty and justice for all, but the accumulation of wealth for people called “capitalists.”
Well sure, “if” one defines a banana as a round fruit that grows on a tree in my backyard, then the grapefruit I had this morning was a banana. But that’s not what a banana is, nor is capitalism “a system designed by and for the interests of those who hold capital”. Capitalism is not a “system” and it is not “designed” – it simply means that the means of production in the economy are privately owned and privately controlled.