525 sats \ 1 reply \ @SpaceHodler 7 Dec 2023 \ on: Anti-Capitalist Fallacies econ
One of the biggest sources of confusion is the lack of distinction between cronyism and free market capitalism.
Even SEK3 considered himself anti-capitalist, because he was anti-cronyist. But he didn't appreciate the role of capital in a free market economy as much as the Austrians did.
I think capitalism and freedom can be seen as orthogonal though. Capitalism is a civilization building framework, and civilization building through capitalism can happen in an environment that doesn't respect individual freedoms, vide China.
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0 sats \ 0 replies \ @Undisciplined OP 8 Dec 2023
That's one of the points in the article, actually. I thought it was well articulated how "capitalism" and "free markets" are different.
It's not even clear to me that calling cronyism "capitalism" is objectively incorrect.
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