For all those who say they do not believe in unfettered capitalism, are you even thinking about what you type?? (Or are you trolling here?) What exactly would "fettered" capitalism be, anyway? Capitalism in chains?!?
Real free market capitalism--"unfettered capitalism"--is about as far from lawlessness as you can get. Free market capitalism depends fundamentally upon the rule of law, laws that protect and respect the essential freedom of the individual, the right to property, the right of contract and other legal instruments, and even on the freedom of individuals in all other important realms of life--freedoms relating to speech, writing, (self-)education, assembly, all of the best stuff that we (nominally at least) inherit as US citizens.
"Unfettered" may be a poor choice of words, because so many of you seem to misunderstand or react emotionally to it. "Unfettered" means unchained. Not lawless, irresponsible, or unaccountable.
And if you really think so-called "capitalism" in China is "unfettered", you have no knowledge or experience of doing business in China.
Amendment 10: Do you really think someone should be prohibited from buying low and selling high?? Why exactly?
vladimir988: Free market capitalism does not mean theft is legal. Protection of property and transfer of property is part of unfettered capitalism. Interference with these rights, or selective protection of them, is not.
</rant>
Laws are fetters. The obligation to respect the property rights of others, the obligation to keep one's contractual promises, these are fetters - restraints on one's freedom. They just happen to be restraints or fetters that we have found to be beneficial because they lead to a more productive and efficient economy. That's why we prize them. "Unfettered capitalism" is an oxymoron in that regard.
“vladimir988: Free market capitalism does not mean theft is legal.”
I didn’t say that. I said that about unfettered capitalism.
“Protection of property and transfer of property is part of unfettered capitalism.”
No, it is not. That’s the point, hence, the ‘unfettered’.
“Interference with these rights, or selective protection of them, is not.”
I want a Free Market, with lots of freedom. I don’t want ‘unfettered capitalism’. And I still want people to be charitable in the Christian sense. I want a lot and will get little of it. That’s how life works.