Capitalism vs. the Free Market – Sheldon Richman’s Full Lecture

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Lecture by Sheldon Richman given as part of The Future of Freedom Foundation’s “Economic Liberty Lecture Series” on March 1, 2010. http://www.fff.org

Sheldon Richman is editor of The Freeman, published by The Foundation for Economic Education in Irvington, New York, and serves as senior fellow at The Future of Freedom Foundation. He is the author of FFF’s award-winning book Separating School & State: How to Liberate America’s Families; Your Money or Your Life: Why We Must Abolish the Income Tax; and Tethered Citizens: Time to Repeal the Welfare State.

Here’s a great short piece on the differences between capitalism and free enterprise from Rick Martin:

“When I tell people that capitalism and free enterprise are not the same thing, I typically get a deer-in-the-headlights look, followed by a clearly articulated “Huh?”  But they are not the same thing, and that is the subject of this piece.

Capitalism requires growth.  Free enterprise does not.  Capitalism can only be satisfied by “more.”  Free enterprise can be satisfied by “enough.”  Free enterprise can go on forever.  Capitalism cannot.

Free enterprise means that I am free to set up my own enterprise, say a general store, and the Federal Agents will not come knocking at midnight. As long as my expenses do not exceed my revenues, my enterprise can continue indefinitely without the need to increase my net worth.

Free enterprise requires freedom, but it does not require accumulation, or growth.

Capitalism, on the other hand, requires a return on investment (ROI).  It requires me to accumulate ever more capital. If I invest $100, by the end of the year, I had better realize a minimum of $106.  If I don’t, then my investment became negative, as the very roots of capitalism are planted in inflation.


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A Conquered People, 4.8 out of 5 based on 13 ratings
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A Conquered People

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A Spy State is being erected around us.
To police our every behavior then create a comprehensive, personalized profile used to predict our actions before they happen.
We are a conquered people.
Staying far too tolerant, apathetic, or blissfully unaware we allow it to occur from within, to fester until we succumb.

By sifting through the publicly available information we glean the truth.
Reports routinely show the rise in American surveillance, driven by a public-private relationship working in concert to usurp our rights. They reveal piecemeal programs and plans without underscoring a broader nefarious agenda.
We break the spy state down into categories, starting from the most familiar than working towards the more abstract. All collected data falls into quadrants split between information we willingly give up and whats taken without our knowledge or consent — both in the physical and digital world. There is a legal framework behind it. In front is a layer of spin and propaganda. And underneath is a storage matrix so great that it’s almost unbelievable.

Most Americans remain woefully unaware of this spy state building up around them, ignorant of its scope and the various facets that dot our surroundings — every minute of every day.
The purpose of this film is to connect the dots and expose the structure.

More at: http://www.aconqueredpeople.com

 

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