Capitalist-entrepreneurs drive the economy forward in their desire to satisfy the demands of consumers. Capital goods themselves are the causes of economic growth and progress. Everything we see around us is the fruit of capital accumulation and saving by capitalists.
Rather than decry the term “capitalism,” we should be more willing to use the term than ever. Capitalists and capital are the cause of growth and progress. The whole of the market system relies upon them. Capitalism should be readily embraced by all defenders of free markets as a descriptive term. Capital is a central part of society. The term that Marx gave as a mark of derision is, in fact, a perfect descriptor of the benefits of the market system—one that advocates of free markets should make a term of pride.
https://mises.org/mises-wire/yes-we-should-defend-term-capitalism
Michael Matulef
npub1t4…487qz
2024-09-19 21:51:16
Author Public Key
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2024-09-19 21:51:16Event JSON
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