“Capitalism” is something of an ideological term, and really too vague. What are you contrasting it against? All existing states have extensive government intervention in and regulation of their economies. I agree with others that the post would be improved by a more clinical and clearly non-ideological presentation.
My post was not about what the right balance is between free markets and government regulation is, my post was about an irrational bias that (some) people have against free markets.
When I say “The vast majority of the world’s wealth has been produced under capitalism” I’m contrasting the level of economic regulation present in America and similar states with the level of economic regulation present in the China and USSR of the 1950s-1970s (for example).
“Capitalism” is something of an ideological term, and really too vague. What are you contrasting it against? All existing states have extensive government intervention in and regulation of their economies. I agree with others that the post would be improved by a more clinical and clearly non-ideological presentation.
My post was not about what the right balance is between free markets and government regulation is, my post was about an irrational bias that (some) people have against free markets.
When I say “The vast majority of the world’s wealth has been produced under capitalism” I’m contrasting the level of economic regulation present in America and similar states with the level of economic regulation present in the China and USSR of the 1950s-1970s (for example).