Some Very Interesting Facts About Capitalism

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facts about capitalism

Here are some very interesting facts about capitalism:

1.  The term Capitalism was popularized by Karl Marx and Friedrich Engels. They explicitly coined the term to refer to the owners of private wealth. This term is a Communist interpretation of markets — from a decidedly egalitarian perspective. It is based on a context in which governments own a significant portion of the capital in society and the economy. It is incomplete and utterly incompatible with concept of free markets – especially as defined by the Austrian School of Economics.

2.  Given this accurate origin of Capitalism, I doubt any Austrians, libertarians, or other free-market advocates would disagree that Capitalism is a dismal failure — due exclusively to the governmental component.

3.  A free market economy cannot exist when the blood source of that economy — its money supply — is owned by a centralized government, and in which much competition is strictly forbidden.

4.  When banks become “too big to fail” they are no longer private entities. When a government steps in to financially support an institution, it becomes — by definition — an extension of that government.

5.  Our current economic malaise is not a product of market failure. It is a product of government failure.

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