Capitalism means freedom

Michael Moore has been on various shows flogging his new movie. He criticizes capitalism as “evil.” However, when he describes “capitalism,” it turns out that he’s really criticizing fascism.

The health care and banking systems are examples of economic fascism, which is the whorish entanglement of government and big business (with government playing the role of Daddy). Let’s take the banks for example. U.S. banks are a cartel under the thumb of the price-fixing Federal Reserve. The banks are “private,” but they operate under heavy regulation (which they embrace). Government agencies like the FDIC “guarantee” bank deposits with money they do not have, which means instead of one bank being at risk, the entire system is at risk of broad collapse. The big banks benefit from government guarantees that ensure privatized gains and socialized losses. Politicians benefit by getting large campaign contributions from financial interests, and they get their big government programs funded by the Fed’s counterfeiting. There is also a swell revolving door between lobbying and banking interests and government agencies. Look at the fantastic wealth accumulated by the Rubins and Hank Paulsons of the world.

The current banking system wouldn’t exist in a free market. To call the banking system “capitalist” is a horrid misuse of the word. Capitalism is simply private ownership of the means of production. It involves the voluntary interaction of buyers and sellers. I grow corn on my property and offer it for sale. You (or a middleman) decide whether to buy it. We must agree on a price. The capitalist system is simply millions upon millions of these transactions.

In other words, the capitalist system means freedom. That’s why I prefer the term “free market” to “capitalism” because it speaks to peaceful, voluntary exchange. The alternative is that Michael Moore and others decide how to spend much of our money for us (since they arrogantly assume that they know how to allocate resources more efficiently and “fairly” than us uncaring dolts).

Michael Moore is an authoritarian socialist dressed in populist garb, so he has an interest in confusing his terms. He is another reminder of this observation by Paul Elmer More:

There is something at once comical and vicious in the spectacle of those men of property who take advantage of their leisure to dream out vast benevolent schemes which would render their own self-satisfied career impossible.

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