What would you change about Capitalism?

[enigmaT120]

I don't like James' definition because it isn't really about capitalism. Capitalism is making money from other people's work.

[JamesR]

Although he is often described as the "father of capitalist thinking," Adam Smith himself never used the term "capitalism". He described his own preferred economic system as "the system of natural liberty." However, Smith defined "capital" as stock, and "profit" as the just expectation to keep the revenue from improvements to that stock. Smith also made capital improvement the central goal of the economic and political system.

I suspect the spirit of 'capitalism' was originally about the "natural liberty" and invisible hand of the market. However, we tend to call the current economic system 'capitalism', which probably resulted in changing the definition. Now "capitalism" is often a scapegoat.

[tonyedgecombe]

Capitalism is making money from other people's work.

To me it's more about the state not getting involved in business.