View Full Version : A portion from The Politically Incorrect Guide to Capitalism

7th August 2010, 11:58 AM

Though not the entire audio book, it amusingly addresses many key distortions and issues regarding capitalism such as discrimination, minimum wage, price controls, child labor laws, etc.

Saul Mine
7th August 2010, 06:18 PM
It's important to remember that "capitalism" is a meaningless cliche. If you go looking for a definition in dictionaries you will find various meanings, but the most accurate one is "The way we do things in the west." An economic system requires land, labor, and capital. All three are required; none can be emphasized above the others. Capital is defined as tools of production, but in financial circles, capital means money, as in "start up capital", and it is almost always borrowed. So in practice, capitalism means running a business with borrowed money. And yes, that is a uniquely western way of doing business.