Is Free Market Capitalism a Misnomer?
Some critics of Free Market Capitalism say that the word itself is an oxymoron or misnomer.
Some of these detractors state that any such economic system will have limits.
What limits you ask? Well, recently one of these critics stated that lack of resources, know-how, people power, or energy for starters.
But, I ask you, the reader, is this indeed, a fair assessment bathed in reality? You see, the word free is about Freedom to Choose, Right to Free Contract, Freedom to participate, Freedom from Taxation without representation, Freedom from quotas, etc.
Free Market Capitalism is not misnomer due to the scarcity of these things, but rather a misnomer in that it does not actually exist anywhere due to those who put up barriers to entry for protectionism, taxation, or control of the flow of such things such as knowledge, resources, energy, money, capital, etc.
It's not that free-capitalism is a misnomer in its theory; it's that it is not allowed to exist in the present period due to the short sided-ness of human powers that be.
There are no limits to resources, rather innovation finds other options.
If you have limited titanium, some entrepreneur starts using carbon nano-tubes, if you lack steel, some wise cracker makes a car out of cannabis woven together.
There is no limit to knowledge, for knowledge is and always will be a moving target, as the game changes so does the knowledge of how to play it.
Energy is not in scarcity rather humans are working out the details of collecting energy from heat, light, waves, wind, etc more efficiently.
There is no end limit on the availability of the needs of mankind for energy presently, the Sun has plenty, it's just a matter of innovation on how best to collect, store or use it.
There is no such thing as scarcity in labor, which is a misnomer, because labor can be done with robots, and machines through incremental or disruptive innovation better.
It's not a fixed or finite issue.
History proves it; the present observes it and the future will duplicate it.
Please tell the critics of Capitalism that you are going to have to much better than that to prove free-market Capitalism is evil.
Some of these detractors state that any such economic system will have limits.
What limits you ask? Well, recently one of these critics stated that lack of resources, know-how, people power, or energy for starters.
But, I ask you, the reader, is this indeed, a fair assessment bathed in reality? You see, the word free is about Freedom to Choose, Right to Free Contract, Freedom to participate, Freedom from Taxation without representation, Freedom from quotas, etc.
Free Market Capitalism is not misnomer due to the scarcity of these things, but rather a misnomer in that it does not actually exist anywhere due to those who put up barriers to entry for protectionism, taxation, or control of the flow of such things such as knowledge, resources, energy, money, capital, etc.
It's not that free-capitalism is a misnomer in its theory; it's that it is not allowed to exist in the present period due to the short sided-ness of human powers that be.
There are no limits to resources, rather innovation finds other options.
If you have limited titanium, some entrepreneur starts using carbon nano-tubes, if you lack steel, some wise cracker makes a car out of cannabis woven together.
There is no limit to knowledge, for knowledge is and always will be a moving target, as the game changes so does the knowledge of how to play it.
Energy is not in scarcity rather humans are working out the details of collecting energy from heat, light, waves, wind, etc more efficiently.
There is no end limit on the availability of the needs of mankind for energy presently, the Sun has plenty, it's just a matter of innovation on how best to collect, store or use it.
There is no such thing as scarcity in labor, which is a misnomer, because labor can be done with robots, and machines through incremental or disruptive innovation better.
It's not a fixed or finite issue.
History proves it; the present observes it and the future will duplicate it.
Please tell the critics of Capitalism that you are going to have to much better than that to prove free-market Capitalism is evil.