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I made a mistake. I should have provided a working definition for Capitalism. I apologize to those of you who have already posted. In this debate, capitalism refers to the socio-economic system that incorporates 1. free "laissez-faire" markets, 2. a government which only provides public goods (in economic speak), 3. freedom of movement for capital and labour, and 4. freedom of enterprise.
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Um-hmm.. in other words, a license to steal. Left to it's own device, capitalism is like fire. It will burn ever greater.. until.. ashes. Think of the furnace/fire analogy. Or even better.. the law of thermodynamics. Energy can be changed from one form to another, but it cannot be created or destroyed. The total amount of energy and matter in the Universe remains constant. Think of a long-lived star vs a supernova. In the end.. Murphy always wins.. (2nd law of thermodynamics) how long we take to get there.. another story.
