-Caveat Lector-

A totalitarian state thrives on propaganda, and there
   is no more effective way to limit thought than to
   control the language itself.  By changing definitions
   of words through continual association, any serious
   discussion involving the concepts that the words
   represents becomes hopelessly muddled.

   The words 'democracy', 'hate' and 'racism' immediately
   comes to mind. -- Thomas Sowell


Laissez faire capitalism means the complete separation of economy
and state, just like the separation of church and state. Capitalism
is the social system based upon private ownership of the means
of production which entails a completely uncontrolled and unregulated
economy where all land is privately owned. But the separation of
the state and the economy is not a primary, it is only an aspect of
the premise that capitalism is based upon: individual rights.
Capitalism is the only politico-economic system based on the
doctrine of individual rights.  This means that capitalism
recognizes that each and every person is the owner of his own
life, and has the right to live his life in any manner he chooses
as long as he does not violate the rights of others.

The essential nature of capitalism is social harmony through the
pursuit of self-interest. Under capitalism, the individual's
pursuit of his own economic self-interest simultaneously benefits
the economic self-interests of all others. In allowing each individual
to act unhampered by government regulations, capitalism causes wealth
to be created in the most efficient manner possible which ultimately
raises the standard of living, increases the economic opportunities,
and makes available an ever growing supply of products for everyone.
The free-market operates in such a way so that as one man creates
more wealth for himself, he simultaneously creates more wealth for
everyone, which means that as the rich become richer, the poor
become richer too. It must be understood that capitalism serves
the economic self-interests of all, including the non-capitalists.

Contrary to widely held beliefs, capitalism is not a system which
exploits a large portion of society for the sake of a small minority
of wealthy capitalists. Ironically, it is actually socialism that
causes the systematic exploitation of labor. Since the socialist
state holds a universal monopoly on labor and production, no
economic incentive exists for the socialist state to provide anything
more than minimum physical subsistence for the workers except to
perhaps prevent riots or revolutions. Exploitation is inherent to
the nature of socialism because individuals cannot exist for their
own sake, rather, they exist merely as means to whatever ends the
socialist rulers -- the self-proclaimed spokesman of "society," may
have in mind.


Regard$,
--MJ

Capitalism undoubtedly has certain boils and blotches
upon it, but has it as many as government? Has it as
many as marriage? Has it as many as religion? I doubt
it. It is the only basic institution of modern man
that shows any genuine health and vigor.
-- H. L. Menken

Underlying most arguments against the free market is a lack of
belief in freedom itself.  -- Milton Friedman

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