What Really is Capitalism

Peter Schiff is often great at pointing out error in much of our common assumptions.  One of the commonest assumptions is that capitalism means Goldman Sachs, Citigroup, Fannie and Bernie Madoff.  What Peter Schiff correctly points out is that the previous are all examples of crony capitalism, not real capitalism.  All of these organizations have been able to buy off the government to get special favors.  In a real capitalism environment they would not be sheltered by big government.

I still feel that free capitalism may form monopolies, but that is another discussion.  The main point is that Michael Moore and Peter Schiff essentially agree, even if their terminology is different.


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