Walter Block on Capitalism
By David Henderson
I readily admit that “capitalism” has a bad press, and its historical use is none too salutary either. But, the enemies of libertarianism are always trying to take words away from us. They have already long ago stolen “liberal.” We must now call ourselves “classical liberals” if we want to use that appellation at all. Some have recently had the audacity to try to take away the word “libertarian.”
He goes on:
One final point. If we libertarians “refuse to use the word ‘capitalism’ to describe what we favor,” what, then, can we make of the phrase “laissez faire capitalism”? Based on the interpretation of the Libertarians Against Capitalism, this phrase would have to be considered a logical contradiction, like “square circle.” For, in their view, “capitalism” is a synonym for “crony capitalism.”
Me: What Walter said.