Capitalism vs. Free Market — what’s in a name, and is Fascism in the picture?
Sonntag, 5. Juni 2011 13:30
Despite my best efforts, this Sunday is on the best way to being a random-web-surfing day, reading (among many other things) critiques of Capitalism using an Indian company’s mobile network in remote Tanzania…
This randomness is of course the source of what we often deplore as procrastination, but I’m realizing it can also set free creativity, by presenting side by side concepts that seem only very loosely related at first. So here is my starting point, a very insightful remark on what difference it makes if we speak about Capitalism or Free Market Economy, from John Kenneth Galbraith, Canadian-American economist and author, published in the article Free Market Fraud in The Progressive magazine in 1999: