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<blockquote data-quote="wkmac" data-source="post: 824357" data-attributes="member: 2189"><p>Capitalism is a troubling word at best IMO. As one who believes in free markets and thus all manner and form of economic action, to take one of the 3 factors of production, the other 2 being land and labor, and making that a central focus seems to me to be inviting unintended consequences. If you took capital out and replaced with labor, the market would still be unbalanced and thus consequences and poor allocation of resources would result.</p><p></p><p>Capitalism and capitalist were first coined as terms of dispargement and it's often debated as to who used the terms first. Many claim it was Marx but in 1825' Thomas Hodgskin used the term in his pamplet, <a href="https://web.archive.org/web/20030903062108/http://www.cleverley.org/areopagus/index.html" target="_blank"><span style="color: red">"Labor Defended Against the Claims of Capital"</span></a> in which Hodgskin defended labor and David Ricardo's Labor theory of value against capital.</p><p></p><p>Hodgskin's thoughts and ideals might prove some worth in your discussion of capitalism. Another piece that puts forth some ideas on the subject is Gary Chartier's <a href="http://c4ss.org/content/1738" target="_blank"><span style="color: red">"Advocates of Freed Markets Should Embrace Anti-Capitalism" </span></a>.</p><p></p><p>You are right in that there are not any hard and fast conclusions because each person will hold differing standards that cause differing conclusions. The larger question that being the case, with so many people and so many conclusion, should gov't be placing all it's eggs in one manner or economic basket when so many people would hold so many different baskets if given the free choice?</p></blockquote><p></p>
[QUOTE="wkmac, post: 824357, member: 2189"] Capitalism is a troubling word at best IMO. As one who believes in free markets and thus all manner and form of economic action, to take one of the 3 factors of production, the other 2 being land and labor, and making that a central focus seems to me to be inviting unintended consequences. If you took capital out and replaced with labor, the market would still be unbalanced and thus consequences and poor allocation of resources would result. Capitalism and capitalist were first coined as terms of dispargement and it's often debated as to who used the terms first. Many claim it was Marx but in 1825' Thomas Hodgskin used the term in his pamplet, [URL='https://web.archive.org/web/20030903062108/http://www.cleverley.org/areopagus/index.html'][COLOR=red]"Labor Defended Against the Claims of Capital"[/COLOR][/URL] in which Hodgskin defended labor and David Ricardo's Labor theory of value against capital. Hodgskin's thoughts and ideals might prove some worth in your discussion of capitalism. Another piece that puts forth some ideas on the subject is Gary Chartier's [URL='http://c4ss.org/content/1738'][COLOR=red]"Advocates of Freed Markets Should Embrace Anti-Capitalism" [/COLOR][/URL]. You are right in that there are not any hard and fast conclusions because each person will hold differing standards that cause differing conclusions. The larger question that being the case, with so many people and so many conclusion, should gov't be placing all it's eggs in one manner or economic basket when so many people would hold so many different baskets if given the free choice? [/QUOTE]
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