"Capitalism" vs "Free Market": Terminological explanation

w/some comments about Murray Rothbard

Category:

Education

Tags:

• capitalism
• free
• market
• anarchism
• rothbard

[havok007]

If you pay someone to do anything are you instantly a boss and by implication evil?

[mr1001nights]

@havok007

If you mean a simple exchange of monetized labor, then no (e.g. a cook paying a carpenter to make a kitchen table) Capitalism implies non labor income by the capitalist, derived from paying the worker less than what s/he deserves.

[Zamolxx]

We need local companies, not corporate giants, that are committed to, antimercantilist and antislave-wages, actions, such as competitive production. The people of the respective communities should have a meaningful amount of stock of the respective company. And the central bank should support charter banks, and practice low interest rates to investments in energy, infrastructure, industry and agriculture. And also a means of keeping speculation dead, a freigeld system should be applied.

[notengonickcojones]

@mr1001nights Nop. Capitalism is paying for what the boss THINKS the worker deserves. The worker can choose another boss... not like in communist countries.

[Lodatzor]

@havok007

No, but unless you are paying them the full value of their labor (that is, equal value to what YOU can obtain from the product of their labor), you are exploiting them.

It's inescapable.

[SecondAgeOfReason]

I think people actually prefer markets to capitalism because capitalism implies corrupt state intervention on behalf of large corporations. Many even like to call themselves free market anti-capitalists in order to highlight this distinction. Youtubers like yourself point out inherent problems that arise in markets when one party has more negotiating power, but it's the solutions that I tend not to agree with, because they have their own unintended consequences.

[BobGeorgeAU]

This is the problem with labels. Critics warp the meaning so much that advocates have to use a new label. Labels are invented to persuade from the offset, such as "pro-life" and "pro-choice". So instead of using labels, explain what you mean. Don't say you want "anarchism", explain what you want. And without hyperbole or other devices meant to manipulate. Don't try to manipulate, try to be honest.

[islamiscrap8888]

when you're talking about free market capitalism, libertarian capitalism, you're talking about a system that allows Individuals the most economic freedom.

[islamiscrap8888]

capitalism is too broad of a term to use when you are talking about people and their freedoms.

[0gods]

@mr1001nights

Excellent discussion.

An international review of modern structured capitalism quickly shows why any form of social welfare is unacceptable. Any welfare entitlement gives a state legitimacy and supports a notion that labor is human and has value beyond its productive capacity--a position in direct opposition to the neoliberal ideal of labor as an expendable commodity. What is amazing is, in light of this, how many turkeys keep voting for economic Thanksgiving in the US.