theconcealedweapon:
You can love business and even love free markets while hating capitalism. What, you say?
Free markets means people and businesses are free to set prices of goods and services (I.e. rather than prices being fixed by law or some entity that manages or regulates the economy.)
Capitalism means that people use wealth to generate more wealth. Capitalism is what leads wealth to accumulate in the hands of people who already have it.
You can have one without the other. China’s economy is an example of one that is more managed (i.e. less free market) than the US but still highly capitalistic. A bunch of ppl getting together to freely buy and sell whatever they want is free market but not necessarily capitalistic.
Government policies can move things one way or the other. For example, progressive taxation is anti-capitalist because it limits wealth accumulation, but it is totally compatible with the free market. Minimum wage is anti-free-market because it fixes a price (I.e. price of labor) but it isn’t inherently anti-capitalist. I.e. it does nothing to prevent extreme wealth accumulation at the top, and it also doesn’t prevent poverty because it does nothing to help people who don’t have jobs.
If you are anti-capitalist and care about wealth inequality, you would do well to learn these distinctions, and use them to inform which policies you support.