Written by Jeffrey Tucker for Laissez Faire Today.
People talk like capitalism is some strange foreign invader, a mechanical system that was imposed on the world a couple hundred years ago, fueled by burning coal and emitting smoke, and certainly not anything organic to the social order.
This is preposterous. The Christmas story that surrounds us in this season, told millions of times in songs and sermons and popular lore, presumes capitalistic institutions. I mean by that: the story presumes private property employed in an extended order of production, organized by human volition, with owners, entrepreneurship, speculation, workers, and consumers all trading to their mutual advantage.
Read the full thing »