Forum Post: Capitalism and Plutocracy: There is a difference.
Posted 13 years ago on Oct. 12, 2011, 4:21 p.m. EST by JohnGalt6170
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I feel that many people are confusing the concept of Capitalism with Plutocracy. People need to understand the difference of the two.
Some think that Capitalism is the reason for this economic crisis when it is actually due to a mixed economy.
Capitalism recognizes that each and every person is the owner of his own life, and has the right to live his life in any manner he chooses as long as he does not violate the rights of others.
Plutocracy is the prioritization of endless accumulation of wealth over other interests, such as public health, education, or the environment.
I feel this clarification is a vital key to the success of the Occupy movement.
"The knowledge that they fear is the weapon to be used against them." - RUSH
The basic definition of "Capital" is: The means of production.
Thus all nations in this world engage in Capitalism. The question is: "Who owns the capital"? In America, yes... the intent was for each individual to have full ownership of their capital. In socialist, fascist and communist regimes, the government owns some or all of each person's capital. And this the primary thing that the U.S. Constitution seeks to prevent (the taking of another's capital).... but we must demand that our government abides by it.
Long live FREEDOM and LIBERTY!
"Capitalism recognizes that each and every person is the owner of his own life, and has the right to live his life in any manner he chooses as long as he does not violate the rights of others." Wrong. Capitalism is an economic system in which regulation is handled by the "invisible hand" of competition. It has nothing to do with not violating the rights of others, hence the current plutocracy dilemma.
Maybe this clarifies even more, please watch, this makes very important points: http://www.youtube.com/watch?v=PNRVRbpJMP0