4 May 2014 2:45 pm
I agree with this. I disagree with Cannon's definitions of capitalism and free enterprise.GeorgeWashington » 04 May 2014 2:37 pm » wrote:
The problem with the current definition is that the crony capitalists have coopted the word capitalism. Fundamentally, capitalism is simply the private exchange of capital for goods and services, capital being anything of value, be it labor or the fruits of labor. Many people think we live in a capitalist society when it is actually crony capitalism, where the rules of the road are written by the powerful to keep the powerless from getting a leg up. The prime example of this is "deregulation" in recent years that yields more regs, which benefit the monied.