If you haven't already done so, or haven't heard them in some time, I urge you to visit YouTube and find Ronald Reagan's old speeches that are posted in their entirety and listen to at least his '64 Goldwater convention address and his inaugural addresses to congress."Capitalism, again in the common usage of the term, includes things like multinational corporations, credit default swaps, and the revolving door between the Big Four accounting firms, tax funded bailouts, and the Department of the Treasury, the SEC and the Commodities Futures Commission and so on."
I have worked for and with many of the very top-tier companies, as well as many innovative boutique and startup companies for almost 30 years. I have never heard anyone express the concept of capitalism in the manner that you described it.
In addition, I received an MBA from a private Catholic university, graduating with Highest Honors (4.0/4.0 GPA). While I'm not a Catholic (the maternal side of my family is), I decided to attend that rather expensive school because of the exceptional depth of real-world business experience by both the full-time and adjunct faculty. They were executives of major corporations, scientists, prominent lawyers, etc. Likewise here, I have never heard anyone express the concept of capitalism in the manner you described.
George Bush, when explaining his rationale for implementing TARP said he had to use socialism to save capitalism (barf).
The DemocRATic propaganda that is passed off as education, needs to modify history in order for people to abandon their common sense and adopt their totally illogical policies. In the end, their policies are designed to create a loyal, permanent support base of misinformed (brainwashed) voters who depend on their leaders for sustenance.
Free and independent thinkers, armed with accurate historical information and economic facts, are the most dangerous people on earth according to our Homeland Security director and her leftist pals.
I'd have to respectfully disagree as to the vernacular meaning of "capitalism." For most people it conjures up images of Paulson's revolving door from Goldman Sachs to Treasury, funnelling untold billions in tax dollars to Citibank and to GM, Bernie Madoff and so forth. I prefer to use the terms "free enterprise" and "private property" when discussing these matters. I am in no way out to save any of the stuff I listed above, but I sure as heck am trying to same "free enterprise" and "private property."
I think it's much more effective in getting the point across to use those terms with most folks, since the term "capitalism" has all of these negative connotations. People like free enterprise and private property, but they have no use for Bernie Madoff and the bailout of the financial industry, GM, Freddie and Fannie, and so on.