Then why do they call it “free market capitalism”? And how is socialism distinct? We can’t have overlapping definitions.
On the far left is communism where the state owns all means of production, then fascism is totally regulated private ownership, then socialism is private ownership with less than total regulation, and finally capitalism is private ownership and complete lack of regulation. Each definition must be distinct.
Capitalism is regulation for the purpose of allowing capitalism? Self-causation?
Capitalism is no regulations because capitalism is for the individual (characterized by private ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined by competition in a free market merriam-webster.com/dictionary/capitalism )
The free market is essential for capitalism just like lack of regulation or intervention is essential for natural selection in evolution. It is the total lack of artificial laws. Now, just as you can’t claim natural selection is indeed natural if you’re meddling with it, similarly you cannot conclude a free market is free if there are regulations. Therefore, capitalism is the total lack of regulation and even one regulation makes it socialism, not capitalism.
That is incorrect. That is like saying your garden is a free market system even though you cut down all the trees and pull the weeds, giving your plants an unfair advantage. Capitalism does not seek to determine what is fair, but allows whatever is natural to take its course.
Well, anarchy is a broader term including laws that are not economic in nature, but capitalism is economic anarchy and, yes, I agree that it’s determinantal to civilization.
No, that’s a connotation people have about socialism. Extreme socialism is extreme, but socialism can also be very mild. Fascism and communism are extremes of socialism that are often destructive, while the socialism that existed in the US during the 50s and 60s worked quite well.
Throwing mud already?
Right, they are for the social good; hence, socialism.
Agreed. Too many laws are too many.