Capitalism is simply an economic system that requires all parties engaged in trade to consent to the transaction. If there is no consent, it is without exception, not capitalism, but theft. This, of course, includes taxation.
Crony capitalism is a capitalist economy corrupted by government that has acquired the power to interfere with fair trade, and so either blatantly manipulates the market for direct profit, or officials are bribed by corporations who want to use legislation and regulation to give themselves an unfair advantage.
The reason capitalism always turns into crony capitalism is because government is not kept in check. If officials have no power to manipulate the free market, there can be no 'crony' capitalism -- which by the way -- is just Socialism.
'capitalism' is defined by capital, aka $$$$. A materialistic view of value for human activities. In this sense, it differs from a free market economy, where the value of human freedom is the defining element, not capital.
Aside from that, I think your description is on target. It is unchecked government that undermines the free market, that and corruption.
The point is, "capitalist" is a concept largely defined in opposition to, but because of, Marx's theory of economics. As such, it exists on a playing field defined by the enemy, and framed by lies.
"Free market economy" is what anyone should be aspiring to, not a "capitalist economy".
Capitalism is simply an economic system that requires all parties engaged in trade to consent to the transaction. If there is no consent, it is without exception, not capitalism, but theft. This, of course, includes taxation.
Crony capitalism is a capitalist economy corrupted by government that has acquired the power to interfere with fair trade, and so either blatantly manipulates the market for direct profit, or officials are bribed by corporations who want to use legislation and regulation to give themselves an unfair advantage.
The reason capitalism always turns into crony capitalism is because government is not kept in check. If officials have no power to manipulate the free market, there can be no 'crony' capitalism -- which by the way -- is just Socialism.
'capitalism' is defined by capital, aka $$$$. A materialistic view of value for human activities. In this sense, it differs from a free market economy, where the value of human freedom is the defining element, not capital.
Aside from that, I think your description is on target. It is unchecked government that undermines the free market, that and corruption.
Almost the entire world's money are fiat. [ paper not backed by tangible assets ]
A fiat system in a society is not a Capitalist society.
Therefore, almost all or the world's societies are not capitalist.
The point is, "capitalist" is a concept largely defined in opposition to, but because of, Marx's theory of economics. As such, it exists on a playing field defined by the enemy, and framed by lies.
"Free market economy" is what anyone should be aspiring to, not a "capitalist economy".
Laissez-Faire Capitalism is the most appropriate term for a free market economy non-anarchist society.