“Free Markets” Are Not “Capitalism”
this post highlights these two competing definitions of “free market capitalism” and argues that the term is not an oxymoron (although strictly speaking it may not be an oxymoron, I believe that it is certainly a null program). The first definition is prevalent in particular among American libertarians:
The second definition of the term free market capitalism, he goes on to say:
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Bill Wurst, the author of - In one sense, “free market capitalism” may be viewed as a system in which individuals make voluntary arrangements involving the exchange of capital.
The second definition of the term free market capitalism, he goes on to say:
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