Showing posts with label Chris Sciabarra. Show all posts
Showing posts with label Chris Sciabarra. Show all posts

Saturday, March 06, 2010

Capitalism versus the Free Market, cont'd

This post by Chris Sciabarra from 2005 is well worth reading (again).

I like this quote from Hayek from Capitalism and the Historians:
In many ways it is misleading to speak of "capitalism" as though this had been a new and altogether different system which suddenly came into being toward the end of the eighteenth century; we use this term here because it is the most familiar name, but only with great reluctance, since with its modern connotations it is itself largely a creation of that socialist interpretation of economic history with which we are concerned.
I also recommend Kevin Carson's comment on Chris's post.