Tag Archives: economics

Defining capitalism may be for a different article but there is an important distinction that should be made when we discuss it to clear up confusion.
For a simple definition, it is economic freedom and private property. The distinction comes into play when people start lumping capitalism with other stuff. You may have heard terms like crony capitalism or state capitalism etc. The distinction is “capitalism and” vs “capitalism except.” When people start lumping other stuff with capitalism it doesn’t not add something to it, it replaces part of it. People use the term mixed economy to describe this lumping together of capitalism with other stuff. Namely, other economic ideas like socialism, communism, interventionism. Mixed economy is a nice way of saying fascist economy. Unfortunately most developed countries have this type of economy. There can be any amount of this other stuff mixed together. That’s why all these countries can still be the same basic thing (fascist/ mixed economy) but still be quite different from each other. Continue reading →