I refuse to use the term “capitalism” to describe my economic philosophy.
“Capitalism” is a term invented by Marx to describe the exploitative economic growth in the early stages of the Industrial Revolution.
It ceased to exist after Poor Laws were passed in the late 1840s.
Free enterprise is not an ideology. It is the opposite of an ideology.
Liberal economics is also a term used many times in the past for free market economics. Of course, many liberals hate liberal economics. Strange huh?
I refuse to use the term “capitalism” to describe my economic philosophy.The specifics of the Bishops' Pastoral Letter reflect far more of the secular Enlightenment of the 18th century than of Catholic traditions. Archbishop Weakland admitted that such an Enlightenment figure as Thomas Paine "is now coming back through a strange channel.”Notwithstanding that, I find it extremely useful to quote Paine:Strange indeed. Paine rejected the teachings of "any church that I know of," including "the Roman church." He said: "My own mind is my own church." Nor was Paine unusual among the leading figures of the 18th century Enlightenment.
SOME writers have so confounded society with government, as to leave little or no distinction between them; whereas they are not only different, but have different origins. Society is produced by our wants, and government by our wickedness; the former promotes our happiness POSITIVELY by uniting our affections, the latter NEGATIVELY by restraining our vices. The one encourages intercourse, the other creates distinctions. The first is a patron, the last a punisher.Society in every state is a blessing, but Government, even in its best state, is but a necessary evil - Thomas Paine, Common Sense (1776)
“Capitalism” is a term invented by Marx to describe the exploitative economic growth in the early stages of the Industrial Revolution.
It ceased to exist after Poor Laws were passed in the late 1840s.
Free enterprise is not an ideology. It is the opposite of an ideology.
Thomas Paine, in the quote above, frees us to use the word which truly describes “the market.” The word we seek - the word which “liberals” have stolen from us - is society.