Dear Editor: Your article in the January 6 issue of GCBR describes and defends “free enterprise” capitalism.
Your article in the January 6 issue of GCBR describes and defends “free enterprise” capitalism.
However, you must understand that ALL economic systems are capitalist, since they all use capital, defined as the means of production. Fascist, socialist and communist economic systems are also capitalist, since they also use capital, except the capital is subject to varying degrees of control by the state.
Of course, only free enterprise market capitalism determines the optimal production and distribution of goods and services, and it only exists under the rule of law in a Republican form of government. The other economic systems always exist under a political oligarchy, the most common form of government throughout history and today.
For clarification of the political spectrum, political and economic systems and how they interact, please watch the 29-minute, professionally produced JBS video “Overview of America” on YouTube. It fit the missing pieces into my puzzle.
Best regards and keep up the good work.
C. Burt Linthicum, CPA