A Quote by Ronald Reagan
All systems are capitalist. It's just a matter of who owns and controls the capital -- ancient king, dictator, or private individual. We should properly be looking at the contrast between a free market system where individuals have the right to live like kings if they have the ability to earn that right and government control of the market system such as we find today in socialist nations.
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There is only one social system that reflects the sovereignty of the individual: the free-market, or capitalist, system.
Free markets. What does this system mean? The answer is simple: it is the market economy, it is the system in which the cooperation of individuals in the social division of labor is achieved by the market.
The switch to the market in Eastern Europe, of course, has not exactly been one of the greatest advertisements for the market. There's no question the socialist system - and I hate to use the word 'socialist,' but I suppose some description of a system in which the state is in control - was breaking down, really collapsing. In these countries, most markedly in Russia itself and in a number of the others, it obviously was based on a tyranny, which is unacceptable even if it were producing good economic results, which it was not.
We live in a capitalist system; anyone who believes they are above this system or purer than this system, even while shopping at the cute organic market across the street or taking a hiking vacation to Guatemala, is certifiable.
free market is a market in which groups and individuals are differently represented. Parity in prosperity and performance between differently able individuals and groups can be achieved only by playing socialist leveler.
In a free market capitalist system, 'price signals' are everything. Prices are determined by buyers and sellers in the free market, and these prices are broadcast from the exchanges, reaching all corners of the economy - where they are used to transact business.
The market steers the capitalistic economy. It directs each individual's activities into those channels in which he best serves the wants of his fellow-men. The market alone puts the whole social system of private ownership of the means of production and free enterprise in order and provides it with sense and meaning.
A famous, very often quoted phrase says: "That government is best, which governs least." I do not believe this to be a correct description of of the functions of a good government. Government ought to do all the things for which it is needed and for which it is established. Government ought to protect the individuals within the country against the violent and fraudulent attacks of gangsters, and it should defend the country against foreign enemies. These are the functions of government within a free system, within the system of the market economy.
Certain countries long ago succeeded where the U.S. has failed in commercializing their air traffic control systems, putting them in the hands of private or quasi-private operators able to raise capital, charge fees, and invest in growth, free of meddling by congressional pork barons. You want a drone-friendly air traffic control system? This is the place to start. Our FAA isn't blindly anti-drone but simply marooned in a system that still needs thousands of eyeballs gazing at radar terminals and out of cockpit windshields.
There is no use in deceiving ourselves. American public opinion rejects the market economy, the capitalistic free enterprise system that provided the nation with the highest standard of living ever attained. Full government control of all activities of the individual is virtually the goal of both national parties.
Even if someone wanted a purely free-market, competitive media system, it would require extensive government regulation to set up those markets. All our largest media companies are based on the grant of explicit government monopoly privileges and licenses, or franchises, or subsidies. The government didn't come in after the system was in place, it built the system in the first place.
Private property and the market system are good not only to promote innovation and to promote growth; private property and the market system are good for our personal freedom.
Am I a capitalist? No. Why would I be a capitalist? I have no capital. Most people have no capital. But to punish the individual for the sins of the system makes no sense. We're responsible for changing it, yes. But we can't actually invent another universe, so we have to start where we are.
Conservatives by and large believe in the corrective power of the free market above all. If we don't like how private companies are doing business, we should just start our own to compete, right?
A lot of the so-called systems composers have this thing that the system is always right. You don't fiddle with it at all. Well, I don't think that. I think the system is as right as you judge it to be. If for some reason you don't like a bit of it you must trust your intuition on that. I don't take a doctrinaire approach to systems.
The stock market is an exploitable market where being right means you get rich and you help the overall system error-correct which makes it harder to be right (the mechanism pushes prices close to random, they're not quite random but few can exploit the non-randomness).
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