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The important aspect of "capitalism" is that it is voluntary, secular et cetera - so why not call it "voluntaryism", "secular economics", or the old term, "laissez faire economics"?

Peikoff says that the term "libertarianism" means nothing because liberty "isn't defined"? - as I remember. But of course he knows what liberty is, just like egoism. http://dictionary.reference.com/browse/liberty?s=t

On the other hand Brook says that capitalism is a good term because it somehow signify, that capital is being used? - but not by whom, which has created a term called "state-capitalism", that would be a contradiction if "capitalism" had it genuine meaning. Money is only the tool, not the essential.

asked May 26 '13 at 10:07

romanticrealist's gravatar image


edited May 26 '13 at 11:07

The thing with libertarianism is that it tries to represent a political philosophy without roots. Politics are defined by specific code of ethics, and the latter by metaphysics and epistemology. Now into the libertarian trend various ideologies conglomerate: classical liberals, anarchists, anarcho-capitalists, voluntaryists, etc. Each of this political philosophies, in reality, are quite differents from the others. They accept different principles and definitions of freedom. That's why libertarianism is a very vague term with no coherence whatsoever in its roots (contradictions).

(May 26 '13 at 19:23) Juan Diego dAnconia Juan%20Diego%20dAnconia's gravatar image

It is good to remember that Ayn Rand preferred to be labeled as a radical for capitalism. Because true capitalism is a defined political and economic system which Objectivism validates in its entirety.

(May 26 '13 at 19:27) Juan Diego dAnconia Juan%20Diego%20dAnconia's gravatar image

"Libertarianism" is a broad net. What's wrong with the term is that in practice is encompasses an entire range of political ideas. It integrates these ideas based on one thing: a desire for "liberty".

Of course, Objectivists have a clear understanding of what "liberty" is, but the term itself doesn't have this meaning for everyone. Some people consider a lack of government provided health care to be a lack of liberty. Some think that being out of a job is to have a lack of liberty.

"Capitalism", however, is a term which emphasizes a crucial political criterion: the defense of the individual's right to his property. Capital is property. A society which denies a man his property is the opposite of capitalism.

Yes, it is true that many people are confused about the nature of capitalism -- the most common error is to call our mixed economy capitalistic -- and to damn capitalism for the mixed economy's failings.

But, in the end, people have a better handle on what property is, compared to liberty. If you stand up for property, anti-capitalistic libertarians will not stand up with you. And that is a good thing.

answered Jun 08 '13 at 21:56

John%20Paquette's gravatar image

John Paquette ♦

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Asked: May 26 '13 at 10:07

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Last updated: Jun 08 '13 at 21:56