- Apr 30, 2009
- Reaction score
the key components are: private ownership and voluntary transactions, freedom of trade, freedom of contract, etc.So how do you define capitalism, and how does that differ from Moore? How does the left's understanding differ from the right's?
the left defines capitalism as anything that businesses do, often times claiming that capitalism demands growth or profits.
government control of business is no longer capitalism. Government's role in capitalism is only to defend rights: i.e. settle disputes over property rights. No interference in private voluntary transactions.