Michael Moore's new film, "Capitalism: A Love Story" will be released next month. I've neither seen nor read reviews of the film, except for a short piece in the London Telegraph (9/6/09) titled "Michael Moore film calls capitalism evil." Aware of Michael Moore's previous films, I know that it will be at best a misleading story about capitalism. So let's do some defensive mental preparation, not about the film but what is and what is not capitalism.
Capitalism is an economic system characterized by private ownership and control over the means of production. The distribution of goods and services and their prices are mainly determined by competition in a free market. Under such a system the primary job of government is to protect private property, enforce contracts and ensure rule of law. Full story...
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Capitalism is an economic system characterized by private ownership and control over the means of production. The distribution of goods and services and their prices are mainly determined by competition in a free market. Under such a system the primary job of government is to protect private property, enforce contracts and ensure rule of law. Full story...
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