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Current Events » in reply to re: Our Constitution Enshrines Democracy Not Capitalism

re: Our Constitution
Tom Brosz — (archived)

Speaking of Adam Smith, "The Wealth of Nations" was published in 1775. It might have made it to the colonies by the time of the Constitutional Convention, but there's little evidence that it did. The Federalist Papers don't contain the word "capitalism" anywhere, and the word "capital" appears only a couple of times in passing. I don't see where the Federalist Papers spend any time at all trying to choose the economic theory that should govern us. The Founders were wise enough to let us decide that on our own, despite Tom's insistence that they simply "forgot" to write capitalism into the Constitution.

Not too surprising, since the word "capitalism," to the best of my knowledge, was not invented until at least the 1800s.

The key is to realize that the ideal form of government is one that allows the individual the maximum freedom to deal with other individuals on a voluntary basis, restricted from using force or fraud (the latter being the minimal role of government.) Free market capitalism is a natural consequence of this form of government, not the primary cause or goal. Democrats long ago abandoned this principle, and Republicans have been getting more than a bit forgetful about it as well.

It is a capital error (no pun intended) to assume that an economic system is no more important or as arbitrary as the color you paint your house. A "choice" you can make without serious consequences. Capitalism and socialism are outgrowths of freedom and slavery, respectively.

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