[tonyinv]

I didn't put this in Breaking News.

[calmseas]

Had he said that "capitalism as practiced in the U.S. is a complex web of laws and regulations," he'd have been right!

[dobbyman]

George Will may be right - when you understand that the Corporation is the basis of modern capitalism, and that a corporation is a legal entity created by Government that grants entrepeneurs and its owners protection against personal lawsuits as they manage and create Business with their corporation. Without such legal protections granted by Government, a corporation may not be practicable or at least too risky to undertake. In exchange for such protections, Corporations and its owners agree to regulations and taxes.

I remember reading that this all stems from the first Corporations which had the title of "Limited (or LTD.)" - meaning limited liability. And this was first granted by the Queen of England to owners of English ships that wanted to do trade across the high seas, but were afraid of being sued by the surviving family of the ship employess if the ship was lost in the seas. So yes there is some good reasons to believe George Will when he says that Capitalisn is a government creation - although that statement misses some other importants parts of the picture of what capitalism is.