March 28, 2023

What is Market Capitalism?

Bob Clasen

"The market economy, by contrast, is what naturally happens when people are free to produce and trade for profit. It just so happens that in order to produce for profit, you MUST produce what others want! And in producing what others want, although it may be no part of your intention, as Adam Smith put it, you benefit them.

Further, the market economy wordlessly (and leaderlessly) coordinates the actions of millions of individuals towards allocating scarce resources to their most valuable uses. Price signals direct self interested individuals towards the production of what society values most highly. It is no accident that we have refrigerators and washing machines and microwave ovens and air conditioning and entertainment at our finger tips. It was self interested actions in the frame of a market economy that brought us all that.” (Couts Moseley)
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Tim adds:

That is why I say Free Market Capitalism (as opposed to crony capitalism aka Fascistic socialism) is not an economy theory at all but a mtter of Natural Law. It is what people will do when left alone to act in their own economic self-interest. Yes, there are some who may try to create a monopoly and suppress others, but that is not free market capitalism any longer. The fact is the market is the only economic system. All others are cheap knockoffs, substitutes that use government in some fashion to compel activity or restrict it and thus manipulate how goods and services will be created and marketed. All systems except Market Capitalism employ the power of the State to set the terms and choose winners and losers. Capitalism is at it's essence a kid offering to trade his sandwhich for a twinkie. That is the essence of all capitalism; you have something I want and I have something you want and we'll both be happy if we trade. If we treated lunchroom kids the way we treat businesses we would have a board regulating lunch trades, would demand the traderr provide all nutritional statistics, demand they package it in a specific way, and then would take a cut "a third of your twinkie before you trade it away". That is what passes for "capitalism" these days. But it is Fascist economics, a type of socialism that incorporates businesses but empowers government to direct and control them.

Posted by: Timothy Birdnow at 01:53 PM | Comments (1) | Add Comment
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1  although it may be no part of your intention, as Adam Smith put it, you benefit them.

Posted by: Omega Replica Watches at May 11, 2023 07:38 AM (dbOdi)

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