THRUST FOR FREEDOM - No. 4

What is
CAPITALISM?

CAPITALISM is usually defined as that economic system in which the land and the means of production and distribution are owned privately and in which the capitalists, or the owners of capital, play the principal part.

This definition - though not wrong in its content - falls far short of doing CAPITALISM justice. It leads to much abuse and misunderstanding of the term. Through the destructive propaganda of those who wish to control production (and ultimately all property) - the various forms of collectivists - CAPITALISM has been denounced as selfish greed and exploitation of the many by the few capitalists.

Actually, the present dictionary definition of CAPITALISM is not an adequate definition at all. It describes only some of CAPITALISM'S characteristics. The resulting incomplete picture of CAPITALISM leads to serious distortions and erroneous interpretations.

A total definition of CAPITALISM can be given in terms of property:*⁽²⁾

Capitalism is that societal structure whose mechanism is capable of protecting all forms of private property completely.

By comparing this functional definition of CAPITALISM with the definition of freedom,*⁽³⁾ it is seen that a successful application of CAPITALISM produces the freedom of a society. The solution to the problem of creating freedom is to discover the proper means of creating a capitalist society.

In freedom, everyone’s property is sacrosanct and CAPITALISM is the guarantor of this. Therefore, in CAPITALISM (not under CAPITALISM), everyone is a CAPITALISM capable of generating capital. No one can be exploited.

The concept of TOTAL CAPITALISM, as defined above, is more than an economic system; it is a way of life which is both moral and practical as no other system can be, and one of its characteristics is a free enterprise economy.

If you want freedom — protect property by promoting total Capitalism. Capitalism builds freedom. The freedom you build will be your own.

* See THRUST FOR FREEDOM issue number indicated in parenthesis.