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by steve_benjamins 4436 days ago
(1) That is not at all a conventional theory of "capitalism"

(2) It is most certainly not what Piketty means by capitalism ... which is what we are discussing here.

1 comments

The falsehood in the claim that capitalism is an "ism" can be demonstrated by the fact that no nation or culture has ever "imposed" capitalism upon its people. All forms of socialism, fascism, redistributism, Keynsianism, etc, are imposed by government taking deliberate action against the natural economic choices of their people. What you call "capitalism" is just the absence of such interventions. Capitalism is just a word to describe the natural economic life of man.