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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The Strange Death of Vincent Foster , 4.4 out of 5 based on 17 ratings
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The Strange Death of Vincent Foster

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What really happened on the day Vince Foster was found dead? Howard Phillips, host of Conservative Roundtable, interviews Attorney John Clark and Patrick Knowlton – a Whitewater Grand Jury witness – on the questionable proceedings related to the death of Vincent Foster. Mr Knowlton was an unknowing witness to events in Fort Marcy Park in Virginia on the day Vince Foster’s body was found dead; the same day his office in the Clinton White House was discovered ransacked–and the same day the FBI was supposed to conduct a search of his office for Whitewater evidence. Watch as Mr. Knowlton describes the strange campaign of intimidation against him before he was scheduled to testify, and the threatening man in Ft. Marcy park. Essentially he was being “urged” to testify that the 83 or 84 Honda Accord and other details he saw were not what he really saw.

Foster had been the deputy White House counsel & also the personal attorney to Bill and Hillary Clinton during Whitewater.

 

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The Strange Death of Vincent Foster , 4.4 out of 5 based on 17 ratings

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