Tuesday, May 12, 2009

Pro Commerce: This puts it together

Pro Commerce: This puts it together

Michael Phillips points out that most young people tend to favor socialism over capitalism (or commerce), tending to think of the latter as inherently evil.

The problem, in my opinion, is not that capitalism is inherently evil, but rather that what is popularly known as capitalism is not what true free-market capitalism is -- or could -- be.

The US is popularly thought of as the foremost modle of a free ecomomy, but the truth is that is is not -- and has NEVER been -- a free market economy (FME), and it is my guess that virtually all of the defects which are attributed to the FME are actually due to attempts to control the economy rather than letting natural forces run their course.

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