> We are all Capitalists, until the Market comes after the stuff we love.

Anyone with half a brain isn't a "Capitalist" (with a big C, like in your example) which is why every single prosperous nation (including USA) regulates markets to avoid destruction of their prosperity and society.

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MrDrMcCoy an hour ago | parent [-]

Colloquial "capitalism" today is just cronyism that in no way resembles the capitalism that Adam Smith wrote about. We really should move towards Rhine Capitalism, the only system that has stood the test of time and truly benefits everyone.

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fhn an hour ago | parent [-]

Adam Smith wrote about the invisible hand and let the free market run. What ended up happening?

	▲	atmavatar 8 minutes ago \| parent \| next [-]
		It turns out the hand is invisible because most of the time, it's not really there.
	▲	fragmede 42 minutes ago \| parent \| prev \| next [-]
		He also wrote about the problem with monopolies, but that was later on in his book so we forgot to do that part so the market isn't properly free.
	▲	iamnothere 27 minutes ago \| parent \| prev [-]
		He only used that metaphor a few times, and he did not attribute the sort of mystical power to the metaphor that modern neoliberal economists do. He never proposed the modern extreme interpretation of the concept, nor did he suggest that government should release all control over the economy. Marx treated Smith rather favorably, and credits him for first understanding that labor in general is what creates value. Smith is best understood as an early pioneer in understanding political economy and trade. He likely wouldn’t recognize or understand the capitalism of today (nor would Marx).