Is the Market to Blame for Current Supply Chain Problems?

Source: Center for a Stateless Society
by Eric Fleischmann

“Gary Chartier points out that ‘[t]here are at least three distinguishable senses of ‘capitalism’’ These include: capitalism-1 … an economic system that features property rights and voluntary exchanges of goods and services. capitalism-2 … an economic system that features a symbiotic relationship between big business and government. capitalism-3 … rule — of workplaces, society, and (if there is one) the state — by capitalists (that is, by a relatively small number of people who control investable wealth and the means of production). The first of these would accurately describe the basics of what a market is and what naturally occurs without state intervention, but this is certainly not what exists currently on any substantial level. The second and third accurately describe the existing economic system … the market is not a central feature but is more of a secondary mechanism that can help facilitate capitalism but does not define it and whose principles are consistently violated.” (01/01/22)