Sunday, January 15, 2012

Actually operating… 

"Capitalism, as practiced in the real world, goes far beyond the private ownership of productive capital. Capitalism as it actually exists includes different forms of corporate ownership, … investment and financing schemes, interest, the acceptance of greed as an objective good, usury, using capital for profit … [and] to prevent competitors from making profit, monopoly, free trade, involvement of the highest levels of government, and a utilitarian view of the worker. … [T]he economic system actually operating under the name Capitalism is very different than the basic definition of the word [i.e. private ownership of production]…. Since both Distributism and Capitalism operate on the basis of private ownership of productive capital, we need to look beyond this one common root and realize that neither of these economic systems is wholly defined by it."

–– David Cooney, "Is Distributism a Form of Capitalism?"

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